CIBC Asset Management Inc Has $5.46 Million Holdings in Constellation Brands, Inc. (NYSE:STZ)

CIBC Asset Management Inc boosted its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 4.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 24,718 shares of the company’s stock after acquiring an additional 1,042 shares during the quarter. CIBC Asset Management Inc’s holdings in Constellation Brands were worth $5,463,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Van ECK Associates Corp boosted its position in Constellation Brands by 1,844.7% during the 4th quarter. Van ECK Associates Corp now owns 924,274 shares of the company’s stock worth $204,265,000 after acquiring an additional 876,745 shares during the period. Grimes & Company Inc. acquired a new stake in Constellation Brands during the 4th quarter worth about $6,099,000. Copperleaf Capital LLC acquired a new stake in Constellation Brands during the 4th quarter worth about $343,000. Empowered Funds LLC raised its stake in shares of Constellation Brands by 62.8% during the 4th quarter. Empowered Funds LLC now owns 16,575 shares of the company’s stock worth $3,663,000 after purchasing an additional 6,391 shares in the last quarter. Finally, Southern Style Financial Inc. purchased a new stake in shares of Constellation Brands during the 4th quarter worth about $3,074,000. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on STZ shares. Wells Fargo & Company cut their price target on Constellation Brands from $295.00 to $275.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Piper Sandler downgraded Constellation Brands from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $245.00 to $200.00 in a research note on Monday, February 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $293.00 price target on shares of Constellation Brands in a research note on Monday, February 3rd. Argus downgraded Constellation Brands from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Finally, StockNews.com raised Constellation Brands from a “sell” rating to a “hold” rating in a research note on Thursday, February 13th. Ten research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, Constellation Brands currently has a consensus rating of “Moderate Buy” and an average price target of $254.29.

Insider Buying and Selling at Constellation Brands

In other Constellation Brands news, Director William T. Giles acquired 1,000 shares of Constellation Brands stock in a transaction dated Friday, January 17th. The stock was bought at an average cost of $186.39 per share, with a total value of $186,390.00. Following the acquisition, the director now owns 1,463 shares of the company’s stock, valued at approximately $272,688.57. The trade was a 215.98 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 12.19% of the company’s stock.

Constellation Brands Price Performance

Shares of Constellation Brands stock opened at $172.47 on Thursday. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.10 and a quick ratio of 0.46. Constellation Brands, Inc. has a fifty-two week low of $160.46 and a fifty-two week high of $274.87. The firm has a fifty day moving average price of $196.90 and a two-hundred day moving average price of $226.68. The company has a market cap of $31.17 billion, a PE ratio of 46.36, a price-to-earnings-growth ratio of 1.44 and a beta of 0.90.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings results on Friday, January 10th. The company reported $3.25 earnings per share for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.08). Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. The company had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.53 billion. During the same period last year, the company earned $3.19 earnings per share. Constellation Brands’s revenue for the quarter was down .3% on a year-over-year basis. Analysts expect that Constellation Brands, Inc. will post 13.5 EPS for the current year.

Constellation Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Friday, February 7th will be issued a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date of this dividend is Friday, February 7th. Constellation Brands’s dividend payout ratio (DPR) is presently 108.60%.

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.