Johnson Investment Counsel Inc. Sells 214 Shares of Constellation Brands, Inc. (NYSE:STZ)

Johnson Investment Counsel Inc. decreased its holdings in Constellation Brands, Inc. (NYSE:STZ) by 12.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,531 shares of the company’s stock after selling 214 shares during the period. Johnson Investment Counsel Inc.’s holdings in Constellation Brands were worth $377,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Prudential PLC purchased a new position in Constellation Brands during the first quarter valued at approximately $705,000. Cetera Investment Advisers grew its stake in Constellation Brands by 1.0% during the first quarter. Cetera Investment Advisers now owns 17,026 shares of the company’s stock valued at $3,921,000 after acquiring an additional 163 shares in the last quarter. Sequoia Financial Advisors LLC grew its stake in Constellation Brands by 17.6% during the first quarter. Sequoia Financial Advisors LLC now owns 3,149 shares of the company’s stock valued at $725,000 after acquiring an additional 471 shares in the last quarter. Vanguard Group Inc. grew its stake in Constellation Brands by 2.6% during the first quarter. Vanguard Group Inc. now owns 12,601,280 shares of the company’s stock valued at $2,902,327,000 after acquiring an additional 313,344 shares in the last quarter. Finally, Ergoteles LLC purchased a new position in Constellation Brands during the first quarter valued at approximately $257,000. Hedge funds and other institutional investors own 88.99% of the company’s stock.

Insiders Place Their Bets

In related news, major shareholder Family Foundation Sands sold 102,152 shares of Constellation Brands stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $241.84, for a total value of $24,704,439.68. Following the completion of the sale, the insider now owns 409,077 shares of the company’s stock, valued at $98,931,181.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 16.19% of the company’s stock.

Analysts Set New Price Targets

STZ has been the subject of several recent analyst reports. The Goldman Sachs Group boosted their price objective on shares of Constellation Brands from $275.00 to $305.00 and gave the company a “buy” rating in a research note on Friday, September 22nd. JPMorgan Chase & Co. boosted their price target on shares of Constellation Brands from $307.00 to $309.00 and gave the stock an “overweight” rating in a research note on Friday, October 6th. Truist Financial reissued a “hold” rating and issued a $260.00 price target on shares of Constellation Brands in a research note on Friday, October 6th. Barclays cut their price target on shares of Constellation Brands from $294.00 to $280.00 and set an “overweight” rating for the company in a research note on Friday, October 6th. Finally, Wedbush boosted their price target on shares of Constellation Brands from $275.00 to $300.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 3rd. Five investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat.com, Constellation Brands presently has an average rating of “Moderate Buy” and a consensus price target of $277.38.

Constellation Brands Price Performance

Shares of Constellation Brands stock opened at $236.95 on Tuesday. The business has a 50 day moving average of $242.95 and a 200 day moving average of $248.47. Constellation Brands, Inc. has a 52 week low of $208.12 and a 52 week high of $273.65. The company has a market cap of $43.53 billion, a PE ratio of 28.86, a P/E/G ratio of 1.89 and a beta of 1.05. The company has a quick ratio of 0.57, a current ratio of 1.20 and a debt-to-equity ratio of 1.10.

Constellation Brands (NYSE:STZ) last posted its earnings results on Thursday, October 5th. The company reported $3.70 earnings per share for the quarter, topping analysts’ consensus estimates of $3.37 by $0.33. The firm had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.82 billion. Constellation Brands had a return on equity of 23.35% and a net margin of 14.41%. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.17 EPS. As a group, equities research analysts forecast that Constellation Brands, Inc. will post 11.87 earnings per share for the current year.

Constellation Brands Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 17th. Shareholders of record on Friday, November 3rd were issued a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date of this dividend was Thursday, November 2nd. Constellation Brands’s payout ratio is 43.36%.

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