Public Sector Pension Investment Board Purchases 2,504 Shares of Constellation Brands, Inc. (NYSE:STZ)

Public Sector Pension Investment Board boosted its position in Constellation Brands, Inc. (NYSE:STZ) by 78.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,704 shares of the company’s stock after purchasing an additional 2,504 shares during the period. Public Sector Pension Investment Board’s holdings in Constellation Brands were worth $1,468,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the business. Capital International Investors lifted its stake in shares of Constellation Brands by 39.4% during the 1st 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 during the last quarter. Capital World Investors increased its stake in 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 period. Manning & Napier Advisors LLC bought a new stake in shares of Constellation Brands during the second quarter worth $119,394,000. Vanguard Group Inc. boosted its stake in shares of Constellation Brands by 3.5% during the first quarter. Vanguard Group Inc. now owns 13,705,793 shares of the company’s stock valued at $3,724,686,000 after purchasing an additional 462,891 shares during the period. Finally, Palestra Capital Management LLC bought a new position in shares of Constellation Brands in the fourth quarter worth about $83,195,000. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Insider Transactions at Constellation Brands

In related news, Director Daniel J. Mccarthy sold 1,854 shares of Constellation Brands 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 completion of the sale, the director now directly owns 3,232 shares in the company, valued at approximately $815,853.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Constellation Brands news, Director Daniel J. Mccarthy sold 1,854 shares of the firm’s stock in a transaction 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 completion of the transaction, the director now owns 3,232 shares of the company’s stock, valued at $815,853.76. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Garth Hankinson sold 13,583 shares of Constellation Brands stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $240.00, for a total transaction of $3,259,920.00. Following the sale, the chief financial officer now owns 11,702 shares of the company’s stock, valued at $2,808,480. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,414 shares of company stock worth $3,982,922. Insiders own 12.19% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $308.00 price objective on shares of Constellation Brands in a report on Tuesday, September 17th. BMO Capital Markets reiterated an “outperform” rating and issued a $315.00 price target on shares of Constellation Brands in a report on Friday, July 5th. Barclays raised their price objective on Constellation Brands from $295.00 to $309.00 and gave the stock an “overweight” rating in a report on Tuesday, September 24th. UBS Group lowered their target price on Constellation Brands from $320.00 to $295.00 and set a “buy” rating for the company in a report on Monday, September 9th. Finally, JPMorgan Chase & Co. cut their price target on Constellation Brands from $320.00 to $307.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 3rd. Three investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $297.12.

Constellation Brands Trading Down 0.3 %

NYSE STZ opened at $257.58 on Tuesday. Constellation Brands, Inc. has a 52 week low of $227.50 and a 52 week high of $274.87. The company has a 50 day moving average price of $246.37 and a 200 day moving average price of $253.76. The company has a quick ratio of 0.53, a current ratio of 1.19 and a debt-to-equity ratio of 1.06. The firm has a market cap of $47.13 billion, a PE ratio of 19.19, a price-to-earnings-growth ratio of 1.74 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Wednesday, July 3rd. The company reported $3.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.46 by $0.11. Constellation Brands had a net margin of 22.70% and a return on equity of 23.72%. The business had revenue of $2.66 billion for the quarter, compared to analyst estimates of $2.67 billion. During the same period in the previous year, the company earned $2.91 earnings per share. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. As a group, sell-side analysts forecast that Constellation Brands, Inc. will post 13.53 EPS for the current fiscal year.

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.