Bank Julius Baer & Co. Ltd Zurich Acquires 349 Shares of Constellation Brands, Inc. (NYSE:STZ)

Posted by Defense World Staff on Oct 9th, 2023

Bank Julius Baer & Co. Ltd Zurich grew its holdings in shares of Constellation Brands, Inc. (NYSE:STZ – Free Report) by 3.9% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,206 shares of the company’s stock after purchasing an additional 349 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich’s holdings in Constellation Brands were worth $2,266,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Old North State Trust LLC boosted its position in Constellation Brands by 3,290.0% during the first quarter. Old North State Trust LLC now owns 678 shares of the company’s stock worth $27,000 after purchasing an additional 658 shares during the period. CVA Family Office LLC boosted its position in Constellation Brands by 323.1% during the second quarter. CVA Family Office LLC now owns 110 shares of the company’s stock worth $27,000 after purchasing an additional 84 shares during the period. Resurgent Financial Advisors LLC bought a new position in Constellation Brands during the fourth quarter worth about $34,000. Ridgewood Investments LLC bought a new position in Constellation Brands during the first quarter worth about $37,000. Finally, Jones Financial Companies Lllp boosted its position in shares of Constellation Brands by 83.2% in the first quarter. Jones Financial Companies Lllp now owns 174 shares of the company’s stock valued at $39,000 after acquiring an additional 79 shares during the period. Institutional investors own 88.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on STZ shares. Citigroup raised their price objective on shares of Constellation Brands from $265.00 to $280.00 in a research report on Wednesday, June 21st. Morgan Stanley raised their price objective on shares of Constellation Brands from $290.00 to $305.00 and gave the company an “overweight” rating in a research report on Monday, July 24th. The Goldman Sachs Group raised their price objective on shares of Constellation Brands from $275.00 to $305.00 and gave the company a “buy” rating in a research report on Friday, September 22nd. JPMorgan Chase & Co. raised their price objective on shares of Constellation Brands from $307.00 to $309.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Barclays lowered their target price on shares of Constellation Brands from $294.00 to $280.00 in a research note on Friday. Five research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, Constellation Brands currently has an average rating of “Moderate Buy” and a consensus target price of $277.64.

Get Our Latest Report on STZ

Insider Activity at Constellation Brands

In related news, CEO William A. Newlands sold 49,425 shares of Constellation Brands stock in a transaction on Thursday, July 20th. The shares were sold at an average price of $267.90, for a total value of $13,240,957.50. Following the sale, the chief executive officer now owns 9,316 shares in the company, valued at $2,495,756.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO William A. Newlands sold 49,425 shares of Constellation Brands stock in a transaction on Thursday, July 20th. The shares were sold at an average price of $267.90, for a total value of $13,240,957.50. Following the sale, the chief executive officer now owns 9,316 shares in the company, valued at $2,495,756.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Garth Hankinson sold 1,550 shares of Constellation Brands stock in a transaction on Thursday, July 20th. The shares were sold at an average price of $267.96, for a total transaction of $415,338.00. Following the completion of the sale, the chief financial officer now owns 9,491 shares in the company, valued at approximately $2,543,208.36. The disclosure for this sale can be found here. Insiders have sold a total of 100,819 shares of company stock worth $27,054,755 over the last quarter. Corporate insiders own 16.19% of the company’s stock.

Constellation Brands Stock Down 2.0 %

Shares of Constellation Brands stock opened at $236.61 on Monday. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.53 and a current ratio of 1.20. Constellation Brands, Inc. has a 52-week low of $208.12 and a 52-week high of $273.65. The stock has a market capitalization of $43.38 billion, a price-to-earnings ratio of 28.82, a P/E/G ratio of 1.79 and a beta of 1.04. The company’s 50 day moving average price is $259.79 and its 200-day moving average price is $246.03.

Constellation Brands (NYSE:STZ – Get Free Report) last issued its earnings results on Thursday, October 5th. The company reported $3.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.37 by $0.33. Constellation Brands had a net margin of 14.41% and a return on equity of 23.35%. The firm had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.82 billion. During the same quarter last year, the business earned $3.17 earnings per share. The business’s revenue was up 6.9% on a year-over-year basis. Equities research analysts forecast that Constellation Brands, Inc. will post 11.89 EPS for the current year.

Constellation Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 17th. Investors of record on Friday, November 3rd will be issued a $0.89 dividend. This represents a $3.56 annualized dividend and a yield of 1.50%. The ex-dividend date is Thursday, November 2nd. Constellation Brands’s dividend payout ratio (DPR) is currently 43.36%.

Constellation Brands Profile

(Free Report)

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.