Constellation Brands Inc (NYSE:STZ) Shares Acquired by Intact Investment Management Inc.

Intact Investment Management Inc. lifted its holdings in Constellation Brands Inc (NYSE:STZ - Free Report) by 16.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,100 shares of the company's stock after buying an additional 3,100 shares during the quarter. Intact Investment Management Inc.'s holdings in Constellation Brands were worth $4,056,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of STZ. Mainstream Capital Management LLC purchased a new stake in shares of Constellation Brands in the fourth quarter valued at approximately $25,000. SBI Securities Co. Ltd. purchased a new stake in Constellation Brands during the fourth quarter worth $26,000. Union Bancaire Privee UBP SA purchased a new stake in Constellation Brands during the fourth quarter worth $28,000. Minot DeBlois Advisors LLC purchased a new stake in Constellation Brands during the fourth quarter worth $29,000. Finally, Optiver Holding B.V. purchased a new stake in Constellation Brands during the fourth quarter worth $31,000. 77.34% of the stock is currently owned by hedge funds and other institutional investors.

Constellation Brands Trading Up 1.4%

Constellation Brands stock traded up $2.30 during trading on Friday, hitting $162.30. The company's stock had a trading volume of 4,359,080 shares, compared to its average volume of 1,847,258. The stock has a market capitalization of $28.89 billion, a price-to-earnings ratio of -318.23, a P/E/G ratio of 8.96 and a beta of 0.70. The stock's fifty day moving average is $181.16 and its 200 day moving average is $187.96. Constellation Brands Inc has a 1-year low of $159.35 and a 1-year high of $265.70. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.56 and a current ratio of 0.92.

Constellation Brands (NYSE:STZ - Get Free Report) last announced its quarterly earnings results on Wednesday, April 9th. The company reported $2.63 EPS for the quarter, topping the consensus estimate of $2.28 by $0.35. The company had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.14 billion. Constellation Brands had a positive return on equity of 29.56% and a negative net margin of 0.74%. The firm's revenue was up 1.2% on a year-over-year basis. During the same period in the prior year, the firm posted $2.26 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 Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Tuesday, April 29th were paid a dividend of $1.02 per share. The ex-dividend date was Tuesday, April 29th. This is a positive change from Constellation Brands's previous quarterly dividend of $1.01. This represents a $4.08 annualized dividend and a yield of 2.51%. Constellation Brands's dividend payout ratio is currently -800.00%.

Insiders Place Their Bets

In other Constellation Brands news, EVP Samuel J. Glaetzer sold 3,150 shares of the company's stock in a transaction dated 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 now directly owns 3,126 shares in the company, valued at $589,376.04. This represents a 50.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 12.45% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on STZ. Barclays boosted their target price on Constellation Brands from $203.00 to $207.00 and gave the stock an "overweight" rating in a research report on Monday, April 14th. Piper Sandler boosted their target price on Constellation Brands from $165.00 to $170.00 and gave the stock a "neutral" rating in a research report on Friday, June 6th. Truist Financial upgraded Constellation Brands from a "hold" rating to a "buy" rating and boosted their target price for the stock from $190.00 to $215.00 in a research report on Wednesday, May 7th. Jefferies Financial Group decreased their target price on Constellation Brands from $201.00 to $196.00 in a research report on Friday, April 11th. Finally, Bernstein Bank decreased their target price on Constellation Brands from $260.00 to $225.00 and set an "outperform" rating on the stock in a research report on Thursday, April 10th. Eleven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $215.87.

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.