Principal Financial Group Inc. Sells 1,693 Shares of Constellation Brands Inc (NYSE:STZ)

Principal Financial Group Inc. reduced its holdings in Constellation Brands Inc (NYSE:STZ - Free Report) by 1.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 172,271 shares of the company's stock after selling 1,693 shares during the quarter. Principal Financial Group Inc. owned 0.10% of Constellation Brands worth $31,615,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in STZ. Berkshire Hathaway Inc acquired a new stake in shares of Constellation Brands during the fourth quarter worth approximately $1,242,976,000. Norges Bank acquired a new stake in shares of Constellation Brands during the 4th quarter valued at $445,883,000. Vanguard Group Inc. grew its holdings in shares of Constellation Brands by 13.3% during the 4th quarter. Vanguard Group Inc. now owns 15,534,787 shares of the company's stock valued at $3,433,188,000 after acquiring an additional 1,821,969 shares in the last quarter. D1 Capital Partners L.P. increased its stake in shares of Constellation Brands by 186.6% in the fourth quarter. D1 Capital Partners L.P. now owns 1,527,689 shares of the company's stock worth $337,619,000 after acquiring an additional 994,639 shares during the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC raised its holdings in shares of Constellation Brands by 42.9% during the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 2,454,258 shares of the company's stock worth $542,391,000 after acquiring an additional 736,780 shares in the last quarter. Institutional investors and hedge funds own 77.34% of the company's stock.

Constellation Brands Trading Up 2.3%

Shares of NYSE:STZ traded up $3.83 during trading on Thursday, hitting $172.87. 1,137,610 shares of the company's stock were exchanged, compared to its average volume of 1,914,848. Constellation Brands Inc has a 1-year low of $159.35 and a 1-year high of $264.45. The firm has a 50-day moving average price of $176.12 and a two-hundred day moving average price of $182.45. The company has a current ratio of 1.07, a quick ratio of 0.68 and a debt-to-equity ratio of 1.30. The firm has a market cap of $30.77 billion, a P/E ratio of -72.30, a PEG ratio of 10.34 and a beta of 0.67.

Constellation Brands (NYSE:STZ - Get Free Report) last issued its quarterly earnings data on Tuesday, July 1st. The company reported $3.22 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.45 by ($0.23). The firm had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.57 billion. Constellation Brands had a negative net margin of 4.11% and a positive return on equity of 31.41%. The firm's revenue for the quarter was down 5.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.57 EPS. Equities analysts predict that Constellation Brands Inc will post 13.5 earnings per share for the current year.

Constellation Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Wednesday, July 30th will be issued a $1.02 dividend. This represents a $4.08 annualized dividend and a dividend yield of 2.36%. The ex-dividend date is Wednesday, July 30th. Constellation Brands's dividend payout ratio (DPR) is presently -170.71%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on STZ. BMO Capital Markets reduced their price target 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. CJS Securities lowered their price target on Constellation Brands from $196.00 to $194.00 in a report on Monday, May 19th. Wall Street Zen upgraded shares of Constellation Brands from a "sell" rating to a "hold" rating in a research note on Tuesday, May 20th. Needham & Company LLC raised their target price on shares of Constellation Brands from $195.00 to $200.00 and gave the company a "buy" rating in a research note on Thursday, July 3rd. Finally, The Goldman Sachs Group set a $225.00 target price on shares of Constellation Brands and gave the stock a "buy" rating in a report on Friday, June 27th. Eleven equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $213.74.

Insider Buying and Selling at Constellation Brands

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

About Constellation Brands

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.