Constellation Brands Inc (NYSE:STZ) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its stake in shares of Constellation Brands Inc (NYSE:STZ - Free Report) by 1.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 172,271 shares of the company's stock after selling 1,693 shares during the period. Principal Financial Group Inc. owned 0.10% of Constellation Brands worth $31,615,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Harbor Capital Advisors Inc. lifted its position in shares of Constellation Brands by 36.4% in the first quarter. Harbor Capital Advisors Inc. now owns 3,051 shares of the company's stock valued at $560,000 after acquiring an additional 815 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in Constellation Brands in the 4th quarter valued at $26,000. Golden State Wealth Management LLC boosted its stake in Constellation Brands by 137.0% during the 1st quarter. Golden State Wealth Management LLC now owns 2,204 shares of the company's stock worth $405,000 after purchasing an additional 1,274 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its stake in Constellation Brands by 28.9% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 7,360 shares of the company's stock worth $1,351,000 after purchasing an additional 1,651 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Constellation Brands by 7.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 17,206 shares of the company's stock worth $3,180,000 after buying an additional 1,185 shares in the last quarter. 77.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Bank of America boosted their price target on shares of Constellation Brands from $180.00 to $182.00 and gave the stock a "neutral" rating in a research report on Thursday, July 3rd. CJS Securities lowered their target price on Constellation Brands from $196.00 to $194.00 in a report on Monday, May 19th. Roth Capital cut their target price on Constellation Brands from $256.00 to $239.00 and set a "buy" rating for the company in a research note on Tuesday, May 20th. Wells Fargo & Company reduced their price target on shares of Constellation Brands from $210.00 to $196.00 and set an "overweight" rating on the stock in a research report on Wednesday, June 25th. Finally, BMO Capital Markets lowered their price objective on Constellation Brands from $260.00 to $215.00 and set an "outperform" rating for the company in a research report on Friday, April 11th. Eleven investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $213.74.

Constellation Brands Stock Down 0.7%

STZ traded down $1.24 on Wednesday, reaching $169.31. The company's stock had a trading volume of 1,829,638 shares, compared to its average volume of 1,917,554. The company has a quick ratio of 0.68, a current ratio of 1.07 and a debt-to-equity ratio of 1.30. Constellation Brands Inc has a fifty-two week low of $159.35 and a fifty-two week high of $264.45. The stock has a 50 day moving average of $176.49 and a two-hundred day moving average of $182.54. The company has a market capitalization of $30.14 billion, a price-to-earnings ratio of -70.84, a P/E/G ratio of 10.34 and a beta of 0.67.

Constellation Brands (NYSE:STZ - Get Free Report) last posted its earnings results on Tuesday, July 1st. The company reported $3.22 EPS for the quarter, missing analysts' consensus estimates of $3.45 by ($0.23). Constellation Brands had a negative net margin of 4.11% and a positive return on equity of 31.41%. The company had revenue of $2.52 billion during the quarter, compared to analysts' expectations of $2.57 billion. During the same period last year, the business earned $3.57 earnings per share. The company's quarterly revenue was down 5.5% on a year-over-year basis. As a group, analysts forecast that Constellation Brands Inc will post 13.5 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Wednesday, July 30th will be given a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 2.41%. The ex-dividend date of this dividend is Wednesday, July 30th. Constellation Brands's payout ratio is currently -170.71%.

Insider Transactions at Constellation Brands

In related news, EVP Samuel J. Glaetzer sold 3,150 shares of the stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $188.54, for a total transaction of $593,901.00. Following the completion of the sale, the executive vice president directly owned 3,126 shares of the company's stock, valued at $589,376.04. This trade represents a 50.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 12.45% of the stock is owned by company insiders.

Constellation Brands Profile

Constellation Brands, Inc, together with its subsidiaries, produces, imports, markets, and sells beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. The company provides beer primarily under the Corona Extra, Corona Familiar, Corona Hard Seltzer, Corona Light, Corona Non-Alcoholic, Corona Premier, Corona Refresca, Modelo Especial, Modelo Chelada, Modelo Negra, Modelo Oro, Victoria, Vicky Chamoy, and Pacifico brands.