TD Asset Management Inc Sells 254,693 Shares of Constellation Brands Inc (NYSE:STZ)

TD Asset Management Inc lessened its holdings in shares of Constellation Brands Inc (NYSE:STZ - Free Report) by 65.7% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 132,710 shares of the company's stock after selling 254,693 shares during the period. TD Asset Management Inc owned 0.07% of Constellation Brands worth $24,355,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Minot DeBlois Advisors LLC bought a new position in Constellation Brands in the fourth quarter valued at about $29,000. Optiver Holding B.V. bought a new position in Constellation Brands in the fourth quarter valued at about $31,000. Laurel Wealth Advisors LLC bought a new position in Constellation Brands in the first quarter valued at about $32,000. Rakuten Securities Inc. boosted its holdings in Constellation Brands by 805.0% in the first quarter. Rakuten Securities Inc. now owns 181 shares of the company's stock valued at $33,000 after acquiring an additional 161 shares during the last quarter. Finally, Fourth Dimension Wealth LLC bought a new position in Constellation Brands in the fourth quarter valued at about $44,000. Institutional investors own 77.34% of the company's stock.

Constellation Brands Stock Down 0.5%

Shares of NYSE:STZ traded down $0.79 during mid-day trading on Friday, reaching $166.25. 1,631,018 shares of the stock were exchanged, compared to its average volume of 2,467,665. The company has a quick ratio of 0.68, a current ratio of 1.07 and a debt-to-equity ratio of 1.30. The company has a market cap of $29.31 billion, a P/E ratio of -69.56, a P/E/G ratio of 10.38 and a beta of 0.67. Constellation Brands Inc has a one year low of $159.35 and a one year high of $261.06. The stock's 50 day simple moving average is $170.55 and its 200-day simple moving average is $177.38.

Constellation Brands (NYSE:STZ - Get Free Report) last posted 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 the consensus estimate of $2.57 billion. Constellation Brands had a positive return on equity of 31.41% and a negative net margin of 4.11%. The firm's quarterly revenue was down 5.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.57 earnings per share. As a group, equities research analysts predict that Constellation Brands Inc will post 13.5 EPS for the current year.

Constellation Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Wednesday, July 30th will be issued a dividend of $1.02 per share. The ex-dividend date is Wednesday, July 30th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.5%. Constellation Brands's dividend payout ratio (DPR) is presently -170.71%.

Insider Transactions at Constellation Brands

In other Constellation Brands news, EVP Samuel J. Glaetzer sold 3,150 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The stock was 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 directly owned 3,126 shares in the company, valued at $589,376.04. This trade represents a 50.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP James O. Bourdeau sold 821 shares of the firm's stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $169.00, for a total value of $138,749.00. Following the completion of the transaction, the executive vice president owned 9,438 shares of the company's stock, valued at approximately $1,595,022. This represents a 8.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. 12.45% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on STZ shares. Barclays set a $202.00 target price on Constellation Brands and gave the company an "overweight" rating in a research note on Thursday, June 26th. JPMorgan Chase & Co. increased their target price on Constellation Brands from $170.00 to $182.00 and gave the company a "neutral" rating in a research note on Thursday, July 3rd. Wells Fargo & Company cut their target price on Constellation Brands from $210.00 to $196.00 and set an "overweight" rating on the stock in a research note on Wednesday, June 25th. CJS Securities cut their target price on Constellation Brands from $196.00 to $194.00 in a research note on Monday, May 19th. Finally, Piper Sandler increased their target price on Constellation Brands from $165.00 to $170.00 and gave the company a "neutral" rating in a research note on Friday, June 6th. Eleven 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 stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $213.74.

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.