Guidance Capital Inc. increases holdings in Constellation Brands, Inc. (NYSE:STZ)

VaselineSeptember 3, 2024

0 4 minutes read

Guidance Capital Inc. increased its position in shares of Constellation Brands, Inc. (NYSE:STZ – Free Report) by 34.9% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,310 shares of the company’s stock after purchasing an additional 339 shares during the quarter. The stakes held by Guidance Capital Inc. in Constellation Brands were worth $321,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Capital International Investors boosted its holdings in shares of Constellation Brands by 39.4% in the first quarter. Capital International Investors now owns 11,685,249 shares of the company’s stock valued at $3,175,583,000 after buying an additional 3,304,709 shares during the last quarter. Norges Bank bought a new position in Constellation Brands in the fourth quarter valued at approximately $443,844,000. Capital World Investors boosted its holdings in shares of Constellation Brands by 8.7% in the first quarter. Capital World Investors now owns 9,040,669 shares of the company’s stock valued at $2,456,892,000 after acquiring an additional 723,549 shares in the last quarter. Boston Partners bought a new stake in shares of Constellation Brands in the fourth quarter valued at about $156,358,000. Finally, Manning & Napier Advisors LLC purchased a new position in shares of Constellation Brands in the second quarter valued at approximately $119,394,000. 77.34% of the shares are held by hedge funds and other institutional investors.

Insider buying and selling

In other news, CFO Garth Hankinson sold 13,583 shares of Constellation Brands stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $240.00, for a total value of $3,259,920.00. Following the transaction, the chief financial officer now directly owns 11,702 shares in the company, valued at approximately $2,808,480. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Constellation Brands news, CFO Garth Hankinson sold 13,583 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $240.00, for a total transaction of $3,259,920.00. Following the completion of the sale, the chief financial officer now directly owns 11,702 shares of the company’s stock, valued at $2,808,480. The transaction was disclosed in a legal filing with the SEC, which is accessible via this link. Also, EVP Kaneenat Kristann Carey sold 977 shares of Constellation Brands stock in a transaction that occurred on Friday, July 12th. The shares were 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 directly owns 2,706 shares in the company, valued at approximately $706,266. The disclosure for this sale can be found here. Insiders have sold 16,414 shares of company stock worth $3,982,922 over the last 90 days. Corporate insiders own 12.19% of the company’s shares.

Constellation Brands shares rose 1.2%

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NYSE:STZ opened at $240.71 on Tuesday. The company has a market cap of $44.04 billion, a price-to-earnings ratio of 17.94, a price-to-earnings-growth ratio of 1.59 and a beta of 1.75. Constellation Brands, Inc. has a twelve month low of $227.50 and a twelve month high of $274.87. The company has a current ratio of 1.19, a quick ratio of 0.53, and a debt-to-equity ratio of 1.06. The stock has a fifty day simple moving average of $247.24 and a 200 day simple moving average of $253.68.

Constellation Brands (NYSE:STZ – Get Your Free Report ) last announced its quarterly earnings data on Wednesday, July 3rd. The company reported $3.57 earnings per share for the quarter, topping analysts’ consensus estimates of $3.46 by $0.11. The company had revenue of $2.66 billion during the quarter, compared to analyst estimates of $2.67 billion. Constellation Brands had a net margin of 22.70% and a return on equity of 23.72%. The company’s revenue for the quarter was up 5.8% year over year. In the same quarter last year, the business posted EPS of $2.91. Analysts anticipate that Constellation Brands, Inc. will record 13.54 EPS for the current year.

Constellation Brands announces dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Wednesday, August 14th were issued a dividend of $1.01 per share. This represents an annualized dividend of $4.04 and a yield of 1.68%. The ex-dividend date was Wednesday, August 14. Constellation Brands’ payout ratio is 30.10%.

Analyst upgrades and downgrades

Several brokerages have recently issued reports on STZ. Barclays upped their target price on shares of Constellation Brands from $287.00 to $295.00 and gave the stock an “overweight” rating in a report on Friday, July 19th. UBS Group boosted their price objective on Constellation Brands from $315.00 to $320.00 and gave the company a “buy” rating in a research report on Friday, July 5th. Roth Mkm cut their price target on Constellation Brands from $305.00 to $303.00 and set a “buy” rating on the stock in a report on Friday, July 5th. Morgan Stanley cut their price target on Constellation Brands from $305.00 to $280.00 and set an “overweight” rating for the company in a research note on Monday, August 26th. Finally, Jefferies Financial Group increased their price objective on shares of Constellation Brands from $310.00 to $311.00 and gave the stock a “buy” rating in a research note on Friday, July 5th. . Three research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Constellation Brands presently has an average rating of “Moderate Buy” and an average target price of $299.21, according to MarketBeat.com.

Read our latest report on STZ

Constellation Brands Company Profile

(Free Report)

Constellation Brands, Inc, together with its subsidiaries, manufactures, imports, markets and sells beer, wine and spirits in the United States, Canada, Mexico, New Zealand and Italy. The company supplies 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.