Mackenzie Financial Corp Has $10.55 Million Holdings in Constellation Brands Inc (NYSE:STZ)

Key Points

• Mackenzie Financial Corp has increased its holdings in Constellation Brands Inc (NYSE:STZ) by 6.2%, owning 57,487 shares valued at approximately $10.55 million as of the latest filing.
• Constellation Brands reported $3.22 EPS for the last quarter, missing estimates by $0.23, with revenue falling 5.5% year-over-year.
• The company announced a quarterly dividend of $1.02, set to be paid on August 14th, representing an annualized yield of 2.4%.

Mackenzie Financial Corp increased its stake in Constellation Brands Inc (NYSE:STZ - Free Report) by 6.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 57,487 shares of the company's stock after purchasing an additional 3,358 shares during the period. Mackenzie Financial Corp's holdings in Constellation Brands were worth $10,550,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sheaff Brock Investment Advisors LLC boosted its stake in shares of Constellation Brands by 5.9% during the 1st quarter. Sheaff Brock Investment Advisors LLC now owns 1,350 shares of the company's stock worth $248,000 after buying an additional 75 shares during the last quarter. Sterling Investment Advisors Ltd. acquired a new position in shares of Constellation Brands during the 1st quarter worth about $1,371,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Constellation Brands by 16.1% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 92,508 shares of the company's stock worth $16,977,000 after buying an additional 12,816 shares during the last quarter. Empirical Finance LLC boosted its stake in shares of Constellation Brands by 5.8% during the 1st quarter. Empirical Finance LLC now owns 3,044 shares of the company's stock worth $559,000 after buying an additional 167 shares during the last quarter. Finally, HB Wealth Management LLC boosted its stake in shares of Constellation Brands by 140.9% during the 1st quarter. HB Wealth Management LLC now owns 12,678 shares of the company's stock worth $2,327,000 after buying an additional 7,416 shares during the last quarter. 77.34% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Constellation Brands news, 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 sale, the executive vice president owned 9,438 shares in the company, valued at $1,595,022. This trade represents a 8.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Samuel J. Glaetzer sold 3,150 shares of the firm'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 transaction of $593,901.00. Following the completion of the sale, the executive vice president owned 3,126 shares in the company, valued at $589,376.04. This represents a 50.19% decrease in their position. The disclosure for this sale can be found here. Company insiders own 12.45% of the company's stock.

Constellation Brands Stock Down 2.6%

Shares of STZ opened at $167.07 on Friday. Constellation Brands Inc has a 12 month low of $159.35 and a 12 month high of $261.06. The firm's 50 day moving average is $170.55 and its 200-day moving average is $177.38. The stock has a market capitalization of $29.45 billion, a PE ratio of -69.90, a P/E/G ratio of 10.38 and a beta of 0.67. The company has a current ratio of 1.07, a quick ratio of 0.68 and a debt-to-equity ratio of 1.30.

Constellation Brands (NYSE:STZ - Get Free Report) last posted its quarterly earnings results on Tuesday, July 1st. The company reported $3.22 earnings per share (EPS) for the quarter, missing the consensus estimate 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 positive return on equity of 31.41% and a negative net margin of 4.11%. The business's revenue was down 5.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.57 EPS. Equities research analysts forecast that Constellation Brands Inc will post 13.5 EPS for the current year.

Constellation Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Wednesday, July 30th will be given a $1.02 dividend. The ex-dividend date is Wednesday, July 30th. This represents a $4.08 dividend on an annualized basis and a yield of 2.4%. Constellation Brands's dividend payout ratio (DPR) is currently -170.71%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on STZ shares. Morgan Stanley reduced their price objective on shares of Constellation Brands from $202.00 to $195.00 and set an "equal weight" rating for the company in a research note on Friday, April 11th. The Goldman Sachs Group set a $225.00 price objective on shares of Constellation Brands and gave the stock a "buy" rating in a research note on Friday, June 27th. BMO Capital Markets dropped their target price on shares of Constellation Brands from $260.00 to $215.00 and set an "outperform" rating on the stock in a report on Friday, April 11th. Cowen reaffirmed a "hold" rating on shares of Constellation Brands in a report on Monday, July 7th. Finally, Wells Fargo & Company dropped their target price on shares of Constellation Brands from $210.00 to $196.00 and set an "overweight" rating on the stock in a report on Wednesday, June 25th. Eleven equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $213.74.

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.

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