iA Global Asset Management Inc. Purchases 7,990 Shares of Constellation Brands, Inc. (NYSE:STZ)

iA Global Asset Management Inc. lifted its stake in Constellation Brands, Inc. (NYSE:STZ) by 331.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,401 shares of the company’s stock after purchasing an additional 7,990 shares during the quarter. iA Global Asset Management Inc.’s holdings in Constellation Brands were worth $2,299,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in STZ. Mainstream Capital Management LLC bought a new stake in shares of Constellation Brands in the 4th quarter worth approximately $25,000. SBI Securities Co. Ltd. bought a new stake in shares of Constellation Brands in the 4th quarter worth approximately $26,000. Compagnie Lombard Odier SCmA bought a new stake in shares of Constellation Brands in the 4th quarter worth approximately $27,000. Union Bancaire Privee UBP SA bought a new stake in shares of Constellation Brands in the 4th quarter worth approximately $28,000. Finally, Versant Capital Management Inc boosted its position in shares of Constellation Brands by 887.5% in the 4th quarter. Versant Capital Management Inc now owns 158 shares of the company’s stock worth $35,000 after purchasing an additional 142 shares in the last quarter. 77.34% of the stock is owned by institutional investors.

Constellation Brands Trading Down 0.6 %

Shares of STZ stock opened at $177.73 on Friday. The stock has a fifty day simple moving average of $177.32 and a two-hundred day simple moving average of $217.28. Constellation Brands, Inc. has a 52-week low of $160.46 and a 52-week high of $274.87. The firm has a market capitalization of $32.12 billion, a PE ratio of 47.78, a PEG ratio of 1.52 and a beta of 1.75. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.46 and a current ratio of 1.10.

Constellation Brands (NYSE:STZ) last released its quarterly earnings data on Friday, January 10th. The company reported $3.25 EPS for the quarter, missing the consensus estimate of $3.33 by ($0.08). Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. The company had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.53 billion. During the same period last year, the company earned $3.19 EPS. The firm’s revenue for the quarter was down .3% on a year-over-year basis. On average, analysts predict that Constellation Brands, Inc. will post 13.5 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 7th were issued a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a dividend yield of 2.27%. The ex-dividend date was Friday, February 7th. Constellation Brands’s dividend payout ratio (DPR) is presently 108.60%.

Insider Buying and Selling at Constellation Brands

In related news, Director William T. Giles acquired 1,000 shares of the company’s stock in a transaction on Friday, January 17th. The stock was acquired at an average price of $186.39 per share, with a total value of $186,390.00. Following the acquisition, the director now directly owns 1,463 shares of the company’s stock, valued at approximately $272,688.57. This trade represents a 215.98 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Insiders own 12.19% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on STZ. Jefferies Financial Group reissued a “hold” rating and issued a $201.00 price target (down from $310.00) on shares of Constellation Brands in a research report on Monday, January 13th. Piper Sandler cut Constellation Brands from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $245.00 to $200.00 in a research report on Monday, February 3rd. Wells Fargo & Company lowered their price objective on Constellation Brands from $295.00 to $275.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Morgan Stanley cut Constellation Brands from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $220.00 to $202.00 in a research report on Thursday, February 27th. Finally, Royal Bank of Canada lowered their price objective on Constellation Brands from $293.00 to $289.00 and set an “outperform” rating on the stock in a research report on Friday, March 7th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Constellation Brands has an average rating of “Hold” and a consensus price target of $250.41.

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.