Empower Advisory Group LLC Purchases 101 Shares of Constellation Brands, Inc. (NYSE:STZ)

Empower Advisory Group LLC raised its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 8.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,330 shares of the company’s stock after acquiring an additional 101 shares during the period. Empower Advisory Group LLC’s holdings in Constellation Brands were worth $343,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Capital International Investors grew its holdings in shares of Constellation Brands by 39.4% in the first quarter. Capital International Investors now owns 11,685,249 shares of the company’s stock worth $3,175,583,000 after purchasing an additional 3,304,709 shares during the last quarter. Capital World Investors grew its stake in shares of Constellation Brands by 8.7% in the first quarter. Capital World Investors now owns 9,040,669 shares of the company’s stock worth $2,456,892,000 after purchasing an additional 723,549 shares during the last quarter. International Assets Investment Management LLC increased its holdings in Constellation Brands by 23,184.7% during the 3rd quarter. International Assets Investment Management LLC now owns 499,689 shares of the company’s stock valued at $128,765,000 after purchasing an additional 497,543 shares during the period. Manning & Napier Advisors LLC bought a new position in Constellation Brands during the 2nd quarter valued at approximately $119,394,000. Finally, Vanguard Group Inc. lifted its holdings in Constellation Brands by 3.5% in the 1st quarter. Vanguard Group Inc. now owns 13,705,793 shares of the company’s stock worth $3,724,686,000 after buying an additional 462,891 shares during the period. 77.34% of the stock is owned by hedge funds and other institutional investors.

Constellation Brands Trading Up 0.5 %

Shares of NYSE STZ opened at $241.99 on Friday. The firm’s 50 day moving average price is $244.49 and its 200-day moving average price is $248.30. Constellation Brands, Inc. has a 52-week low of $224.76 and a 52-week high of $274.87. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.53 and a current ratio of 1.25. The company has a market cap of $43.94 billion, a PE ratio of 78.31, a P/E/G ratio of 1.68 and a beta of 0.90.

Constellation Brands (NYSE:STZ) last released its quarterly earnings data on Thursday, October 3rd. The company reported $4.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.08 by $0.24. The business had revenue of $2.92 billion for the quarter, compared to analysts’ expectations of $2.95 billion. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period in the prior year, the firm posted $3.70 EPS. On average, equities research analysts expect that Constellation Brands, Inc. will post 13.57 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th will be given a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date is Tuesday, November 5th. Constellation Brands’s dividend payout ratio (DPR) is 130.74%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Morgan Stanley cut their price target on shares of Constellation Brands from $305.00 to $280.00 and set an “overweight” rating on the stock in a report on Monday, August 26th. BMO Capital Markets cut their target price on shares of Constellation Brands from $315.00 to $305.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 15th. Truist Financial decreased their price target on shares of Constellation Brands from $265.00 to $255.00 and set a “hold” rating for the company in a research note on Friday, October 4th. Roth Mkm reaffirmed a “buy” rating and set a $298.00 price objective on shares of Constellation Brands in a research report on Friday, October 4th. Finally, UBS Group decreased their target price on Constellation Brands from $320.00 to $295.00 and set a “buy” rating for the company in a research report on Monday, September 9th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $290.47.

Insider Activity

In other Constellation Brands news, CEO William A. Newlands sold 7,426 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $237.24, for a total transaction of $1,761,744.24. Following the completion of the sale, the chief executive officer now directly owns 7,274 shares of the company’s stock, valued at approximately $1,725,683.76. This represents a 50.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert Sands sold 119,274 shares of the stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $242.37, for a total transaction of $28,908,439.38. Following the completion of the transaction, the director now owns 431,729 shares in the company, valued at $104,638,157.73. The trade was a 21.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 128,210 shares of company stock valued at $31,040,994 in the last 90 days. 12.19% of the stock is currently owned by insiders.

Constellation Brands Company 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.