Transcend Capital Advisors LLC Acquires 812 Shares of Constellation Brands, Inc. (NYSE:STZ)

Transcend Capital Advisors LLC lifted its holdings in Constellation Brands, Inc. (NYSE:STZ) by 31.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,412 shares of the company’s stock after purchasing an additional 812 shares during the quarter. Transcend Capital Advisors LLC’s holdings in Constellation Brands were worth $878,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of Constellation Brands by 3.5% in the first quarter. Vanguard Group Inc. now owns 13,705,793 shares of the company’s stock worth $3,724,686,000 after purchasing an additional 462,891 shares in the last quarter. Capital International Investors raised its position in Constellation Brands by 39.4% during the first quarter. Capital International Investors now owns 11,685,249 shares of the company’s stock worth $3,175,583,000 after acquiring an additional 3,304,709 shares in the last quarter. Capital World Investors raised its position in Constellation Brands by 8.7% during the first quarter. Capital World Investors now owns 9,040,669 shares of the company’s stock worth $2,456,892,000 after acquiring an additional 723,549 shares in the last quarter. Capital Research Global Investors raised its position in Constellation Brands by 9.9% during the first quarter. Capital Research Global Investors now owns 2,469,997 shares of the company’s stock worth $671,246,000 after acquiring an additional 222,380 shares in the last quarter. Finally, Norges Bank bought a new stake in Constellation Brands during the fourth quarter worth $443,844,000. Institutional investors own 77.34% of the company’s stock.

Constellation Brands Price Performance

Constellation Brands stock traded down $8.95 during trading hours on Monday, reaching $237.99. 652,509 shares of the stock were exchanged, compared to its average volume of 1,201,863. The company has a market cap of $43.37 billion, a P/E ratio of 18.40, a price-to-earnings-growth ratio of 1.62 and a beta of 0.87. The company has a current ratio of 1.19, a quick ratio of 0.53 and a debt-to-equity ratio of 1.06. Constellation Brands, Inc. has a twelve month low of $227.50 and a twelve month high of $274.87. The stock has a 50 day moving average of $252.51 and a two-hundred day moving average of $254.70.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings results on Wednesday, July 3rd. The company reported $3.57 earnings per share for the quarter, beating analysts’ consensus estimates of $3.46 by $0.11. Constellation Brands had a net margin of 22.70% and a return on equity of 23.72%. The company had revenue of $2.66 billion for the quarter, compared to the consensus estimate of $2.67 billion. During the same period last year, the company posted $2.91 EPS. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. Equities 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 Friday, August 23rd. Investors of record on Wednesday, August 14th will be given a dividend of $1.01 per share. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $4.04 annualized dividend and a yield of 1.70%. Constellation Brands’s dividend payout ratio is presently 30.10%.

Insider Buying and Selling

In other news, Director Daniel J. Mccarthy sold 1,854 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $252.43, for a total value of $468,005.22. Following the transaction, the director now owns 3,232 shares in the company, valued at approximately $815,853.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Daniel J. Mccarthy sold 1,854 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $252.43, for a total value of $468,005.22. Following the transaction, the director now owns 3,232 shares in the company, valued at approximately $815,853.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kaneenat Kristann Carey sold 977 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $261.00, for a total transaction of $254,997.00. Following the completion of the transaction, the executive vice president now owns 2,706 shares in the company, valued at approximately $706,266. The disclosure for this sale can be found here. Insiders have sold a total of 27,831 shares of company stock worth $7,261,502 in the last ninety days. Company insiders own 12.19% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on STZ. Truist Financial reaffirmed a “hold” rating and set a $265.00 price target on shares of Constellation Brands in a research report on Wednesday, July 3rd. Wedbush reissued an “outperform” rating and issued a $300.00 price objective on shares of Constellation Brands in a research report on Wednesday, April 10th. Royal Bank of Canada reissued an “outperform” rating and issued a $308.00 price objective on shares of Constellation Brands in a research report on Wednesday, July 31st. Argus raised shares of Constellation Brands from a “hold” rating to a “buy” rating and set a $306.00 price objective on the stock in a research report on Monday, April 15th. Finally, UBS Group increased their price objective on shares of Constellation Brands from $315.00 to $320.00 and gave the company a “buy” rating in a research report on Friday, July 5th. Three analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $300.28.

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.