Intact Investment Management Inc. Has $629,000 Stake in Constellation Brands, Inc. (NYSE:STZ)

Intact Investment Management Inc. grew its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 23.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,600 shares of the company’s stock after purchasing an additional 500 shares during the quarter. Intact Investment Management Inc.’s holdings in Constellation Brands were worth $629,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Morgan Stanley grew its stake in shares of Constellation Brands by 1.5% in the third quarter. Morgan Stanley now owns 4,050,468 shares of the company’s stock worth $1,018,005,000 after purchasing an additional 58,518 shares during the last quarter. Northern Trust Corp boosted its stake in Constellation Brands by 3.7% during the 3rd quarter. Northern Trust Corp now owns 1,499,035 shares of the company’s stock valued at $376,752,000 after purchasing an additional 53,862 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Constellation Brands by 9.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,015,105 shares of the company’s stock worth $255,126,000 after purchasing an additional 85,330 shares in the last quarter. Darsana Capital Partners LP increased its stake in shares of Constellation Brands by 288.9% during the 3rd quarter. Darsana Capital Partners LP now owns 875,000 shares of the company’s stock worth $219,914,000 after purchasing an additional 650,000 shares during the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC raised its position in shares of Constellation Brands by 9.9% in the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 800,686 shares of the company’s stock worth $201,236,000 after buying an additional 71,979 shares in the last quarter. 77.34% of the stock is currently owned by institutional investors.

Insider Activity

In other Constellation Brands news, EVP James A. Jr. Sabia sold 15,781 shares of the business’s stock in a transaction on Friday, April 12th. The shares were sold at an average price of $263.63, for a total transaction of $4,160,345.03. Following the transaction, the executive vice president now owns 20,910 shares in the company, valued at $5,512,503.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP James A. Jr. Sabia sold 15,781 shares of the company’s stock in a transaction on Friday, April 12th. The stock was sold at an average price of $263.63, for a total transaction of $4,160,345.03. Following the completion of the sale, the executive vice president now directly owns 20,910 shares in the company, valued at approximately $5,512,503.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William A. Newlands sold 4,013 shares of the company’s stock in a transaction that occurred on Friday, April 19th. The shares were sold at an average price of $263.25, for a total transaction of $1,056,422.25. Following the transaction, the chief executive officer now owns 5,395 shares in the company, valued at approximately $1,420,233.75. The disclosure for this sale can be found here. Corporate insiders own 16.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on STZ shares. Jefferies Financial Group lifted their price objective on Constellation Brands from $292.00 to $314.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Constellation Brands from $256.00 to $262.00 and gave the company a “hold” rating in a research note on Wednesday, April 10th. Roth Mkm restated a “buy” rating and issued a $305.00 price objective on shares of Constellation Brands in a report on Friday, April 12th. Piper Sandler started coverage on Constellation Brands in a report on Friday, March 22nd. They set an “overweight” rating and a $300.00 target price on the stock. Finally, Wedbush restated an “outperform” rating and issued a $300.00 target price on shares of Constellation Brands in a research note on Wednesday, April 10th. Three research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $298.55.

Constellation Brands Trading Down 0.6 %

Constellation Brands stock opened at $260.04 on Monday. 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 12-month low of $221.81 and a 12-month high of $274.87. The firm has a market capitalization of $47.54 billion, a price-to-earnings ratio of 27.72, a P/E/G ratio of 1.76 and a beta of 1.75. The firm has a 50 day moving average of $259.80 and a 200 day moving average of $248.08.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings results on Thursday, April 11th. The company reported $2.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.10 by $0.16. The business had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.09 billion. Constellation Brands had a return on equity of 23.06% and a net margin of 16.13%. Constellation Brands’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.98 EPS. As a group, research analysts predict that Constellation Brands, Inc. will post 13.51 earnings per share for the current year.

Constellation Brands Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Friday, May 3rd will be paid a $1.01 dividend. This is a boost from Constellation Brands’s previous quarterly dividend of $0.89. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date of this dividend is Thursday, May 2nd. Constellation Brands’s dividend payout ratio (DPR) is presently 43.07%.

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 Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Victoria, Vicky Chamoy, and Pacifico brands.