Nisa Investment Advisors LLC Sells 3,870 Shares of Constellation Brands Inc (NYSE:STZ)

Nisa Investment Advisors LLC decreased its holdings in shares of Constellation Brands Inc (NYSE:STZ - Free Report) by 6.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 55,971 shares of the company's stock after selling 3,870 shares during the period. Nisa Investment Advisors LLC's holdings in Constellation Brands were worth $10,272,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

A number of research firms recently weighed in on STZ. Cowen restated a "hold" rating on shares of Constellation Brands in a research report on Monday. CJS Securities reduced their target price on Constellation Brands from $196.00 to $194.00 in a research note on Monday, May 19th. Deutsche Bank Aktiengesellschaft reduced their price target on Constellation Brands from $191.00 to $185.00 and set a "hold" rating on the stock in a research note on Thursday, June 5th. Piper Sandler boosted their target price on Constellation Brands from $165.00 to $170.00 and gave the stock a "neutral" rating in a report on Friday, June 6th. Finally, The Goldman Sachs Group set a $225.00 price target on Constellation Brands and gave the company a "buy" rating in a report on Friday, June 27th. 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 company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $213.74.

Insiders Place Their Bets

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 transaction 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 trade represents a 50.19% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 12.45% of the stock is owned by corporate insiders.

Constellation Brands Price Performance

Shares of NYSE:STZ traded up $0.15 during trading on Friday, hitting $172.27. 1,370,929 shares of the company's stock were exchanged, compared to its average volume of 1,922,487. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.07 and a quick ratio of 0.68. Constellation Brands Inc has a 52-week low of $159.35 and a 52-week high of $264.45. The business's 50-day simple moving average is $175.86 and its 200 day simple moving average is $182.07. The company has a market cap of $30.67 billion, a price-to-earnings ratio of -72.08, a PEG ratio of 10.42 and a beta of 0.67.

Constellation Brands (NYSE:STZ - Get Free Report) last released its 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). Constellation Brands had a positive return on equity of 31.41% and a negative net margin of 4.11%. The business had revenue of $2.52 billion for the quarter, compared to analysts' expectations of $2.57 billion. During the same quarter in the prior year, the business posted $3.57 EPS. The business's revenue for the quarter was down 5.5% compared to the same quarter last year. As a group, equities analysts predict that Constellation Brands Inc will post 13.5 EPS for the current year.

Constellation Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Wednesday, July 30th will be issued a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 2.37%. The ex-dividend date is Wednesday, July 30th. Constellation Brands's dividend payout ratio is presently -170.71%.

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.