CIBC Asset Management Inc Has $6.10 Million Holdings in Constellation Brands, Inc. (NYSE:STZ)

CIBC Asset Management Inc raised its position in Constellation Brands, Inc. (NYSE:STZ) by 6.1% during the third quarter, Holdings Channel.com reports. The institutional investor owned 23,676 shares of the company’s stock after purchasing an additional 1,366 shares during the quarter. CIBC Asset Management Inc’s holdings in Constellation Brands were worth $6,101,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in STZ. Capital International Investors boosted its position in 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 in the last quarter. Capital World Investors boosted its position in 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 buying an additional 723,549 shares in the last quarter. International Assets Investment Management LLC boosted its position in Constellation Brands by 23,184.7% in the third quarter. International Assets Investment Management LLC now owns 499,689 shares of the company’s stock valued at $128,765,000 after buying an additional 497,543 shares in the last quarter. Manning & Napier Advisors LLC acquired a new position in shares of Constellation Brands during the second quarter worth approximately $119,394,000. Finally, Boston Partners lifted its position in shares of Constellation Brands by 50.9% during the first quarter. Boston Partners now owns 975,589 shares of the company’s stock worth $265,099,000 after purchasing an additional 328,881 shares in the last quarter. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Constellation Brands Stock Down 1.9 %

Shares of NYSE:STZ opened at $237.51 on Monday. Constellation Brands, Inc. has a 52 week low of $224.76 and a 52 week high of $274.87. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.53 and a current ratio of 1.25. The company has a market capitalization of $43.12 billion, a PE ratio of 76.86, a PEG ratio of 1.68 and a beta of 0.90. The company has a 50 day moving average price of $244.13 and a two-hundred day moving average price of $248.01.

Constellation Brands (NYSE:STZ) last issued its earnings results on Thursday, October 3rd. The company reported $4.32 EPS for the quarter, beating the consensus estimate of $4.08 by $0.24. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. The firm had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.95 billion. During the same quarter in the prior year, the firm earned $3.70 earnings per share. The business’s quarterly revenue was up 2.9% on a year-over-year basis. Analysts forecast that Constellation Brands, Inc. will post 13.57 earnings per share for the current year.

Constellation Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th will be given a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a dividend yield of 1.70%. The ex-dividend date of this dividend is Tuesday, November 5th. Constellation Brands’s dividend payout ratio is 130.74%.

Insider Transactions at Constellation Brands

In other news, EVP Samuel J. Glaetzer sold 1,510 shares of the stock in a transaction on Monday, October 14th. The shares were sold at an average price of $245.57, for a total transaction of $370,810.70. Following the completion of the sale, the executive vice president now owns 4,970 shares of the company’s stock, valued at $1,220,482.90. This represents a 23.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP James A. Jr. Sabia sold 36,086 shares of the stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $242.99, for a total transaction of $8,768,537.14. Following the sale, the executive vice president now directly owns 16,042 shares of the company’s stock, valued at $3,898,045.58. This represents a 69.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 189,296 shares of company stock valued at $45,899,031 over the last quarter. Corporate insiders own 12.19% of the company’s stock.

Analyst Upgrades and Downgrades

STZ has been the topic of a number of research reports. TD Cowen lowered shares of Constellation Brands from a “buy” rating to a “hold” rating and reduced their target price for the stock from $300.00 to $270.00 in a research report on Tuesday, October 8th. JPMorgan Chase & Co. reduced their target price on shares of Constellation Brands from $307.00 to $293.00 and set an “overweight” rating on the stock in a research report on Friday, October 4th. Royal Bank of Canada reiterated an “outperform” rating and set a $308.00 target price on shares of Constellation Brands in a research report on Friday, October 4th. UBS Group reduced their target price on shares of Constellation Brands from $320.00 to $295.00 and set a “buy” rating on the stock in a research report on Monday, September 9th. Finally, Morgan Stanley reduced their target price on shares of Constellation Brands from $305.00 to $280.00 and set an “overweight” rating on the stock in a research report on Monday, August 26th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $290.47.

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.