Nuveen LLC Purchases Shares of 345,342 Constellation Brands Inc (NYSE:STZ)

Key Points

• Nuveen LLC has purchased 345,342 shares of Constellation Brands Inc, valued at approximately $63.37 million, increasing its stake to 0.19% of the company.
• Constellation Brands recently declared a quarterly dividend of $1.02 per share, representing a 2.4% dividend yield, with the ex-dividend date set for July 30th.
• Wall Street analysts maintain a consensus rating of "Moderate Buy" for Constellation Brands, with a target price averaging $213.74 per share.

Nuveen LLC purchased a new stake in shares of Constellation Brands Inc (NYSE:STZ - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 345,342 shares of the company's stock, valued at approximately $63,377,000. Nuveen LLC owned 0.19% of Constellation Brands as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Piscataqua Savings Bank grew its stake in shares of Constellation Brands by 1.7% during the 1st quarter. Piscataqua Savings Bank now owns 3,720 shares of the company's stock valued at $683,000 after purchasing an additional 62 shares during the period. Strategic Financial Concepts LLC grew its stake in shares of Constellation Brands by 5.8% during the 1st quarter. Strategic Financial Concepts LLC now owns 1,128 shares of the company's stock valued at $207,000 after acquiring an additional 62 shares during the period. World Investment Advisors grew its stake in shares of Constellation Brands by 1.7% during the 1st quarter. World Investment Advisors now owns 3,801 shares of the company's stock valued at $698,000 after acquiring an additional 62 shares during the period. Moody National Bank Trust Division grew its stake in shares of Constellation Brands by 0.9% during the 1st quarter. Moody National Bank Trust Division now owns 6,991 shares of the company's stock valued at $1,283,000 after acquiring an additional 64 shares during the period. Finally, Bessemer Group Inc. grew its stake in shares of Constellation Brands by 3.0% during the 1st quarter. Bessemer Group Inc. now owns 2,242 shares of the company's stock valued at $412,000 after acquiring an additional 65 shares during the period. 77.34% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP James O. Bourdeau sold 821 shares of the stock in a transaction on Monday, July 21st. The stock was sold at an average price of $169.00, for a total transaction of $138,749.00. Following 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 12.45% of the company's stock.

Constellation Brands Stock Performance

Shares of Constellation Brands stock opened at $170.35 on Thursday. The stock's fifty day moving average is $168.76 and its two-hundred day moving average is $176.62. The company has a market capitalization of $30.03 billion, a PE ratio of -71.28, a price-to-earnings-growth ratio of 10.29 and a beta of 0.67. The company has a quick ratio of 0.68, a current ratio of 1.07 and a debt-to-equity ratio of 1.30. Constellation Brands Inc has a 52 week low of $159.35 and a 52 week high of $261.06.

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

Constellation Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Wednesday, July 30th will be given a dividend of $1.02 per share. The ex-dividend date of this dividend is Wednesday, July 30th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.4%. Constellation Brands's dividend payout ratio is presently -170.71%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft lowered their price target on Constellation Brands from $191.00 to $185.00 and set a "hold" rating on the stock in a report on Thursday, June 5th. UBS Group boosted their price target on Constellation Brands from $195.00 to $205.00 and gave the stock a "buy" rating in a report on Thursday, July 3rd. Needham & Company LLC boosted their price target on Constellation Brands from $195.00 to $200.00 and gave the stock a "buy" rating in a report on Thursday, July 3rd. Piper Sandler boosted their price target 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 stock a "buy" rating in a report on Friday, June 27th. Eleven investment 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 stock. Based on data from MarketBeat, Constellation Brands currently has a consensus 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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