Bank of Nova Scotia Buys 29,488 Shares of Constellation Brands Inc $STZ

Bank of Nova Scotia raised its stake in shares of Constellation Brands Inc (NYSE:STZ) by 62.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 76,656 shares of the company’s stock after purchasing an additional 29,488 shares during the period. Bank of Nova Scotia’s holdings in Constellation Brands were worth $11,498,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. MV Capital Management Inc. acquired a new stake in shares of Constellation Brands in the fourth quarter worth $26,000. Stance Capital LLC bought a new position in shares of Constellation Brands in the third quarter worth about $26,000. Strive Financial Group LLC acquired a new position in shares of Constellation Brands during the 4th quarter worth about $27,000. Elyxium Wealth LLC acquired a new position in shares of Constellation Brands during the 4th quarter worth about $33,000. Finally, Root Financial Partners LLC boosted its stake in Constellation Brands by 231.3% during the 1st quarter. Root Financial Partners LLC now owns 222 shares of the company’s stock valued at $33,000 after purchasing an additional 155 shares during the period. Institutional investors own 77.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on STZ. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Constellation Brands in a report on Wednesday, July 1st. Evercore set a $175.00 price target on Constellation Brands and gave the stock an “outperform” rating in a report on Friday, April 10th. BMO Capital Markets reiterated an “outperform” rating and set a $190.00 target price on shares of Constellation Brands in a research note on Thursday, July 2nd. JPMorgan Chase & Co. cut their target price on shares of Constellation Brands from $169.00 to $165.00 and set a “neutral” rating for the company in a research note on Thursday, July 2nd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $185.00 price target on shares of Constellation Brands in a report on Thursday, July 2nd. Eleven equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $167.53.

Insider Buying and Selling at Constellation Brands

In other news, EVP James O. Bourdeau sold 4,407 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $143.24, for a total value of $631,258.68. Following the sale, the executive vice president directly owned 9,109 shares in the company, valued at approximately $1,304,773.16. This represents a 32.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 12.20% of the company’s stock.

Constellation Brands Stock Up 0.0%

Shares of STZ stock opened at $130.19 on Monday. The stock has a market cap of $22.23 billion, a P/E ratio of 12.42, a price-to-earnings-growth ratio of 4.05 and a beta of 0.39. Constellation Brands Inc has a one year low of $126.45 and a one year high of $176.32. The stock has a fifty day moving average price of $139.46 and a 200 day moving average price of $149.27. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.91 and a quick ratio of 0.48.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings results on Tuesday, June 30th. The company reported $3.43 earnings per share for the quarter, missing analysts’ consensus estimates of $3.70 by ($0.27). The business had revenue of $2.43 billion for the quarter, compared to analyst estimates of $2.39 billion. Constellation Brands had a return on equity of 25.58% and a net margin of 18.87%.The firm’s quarterly revenue was down 3.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.22 EPS. Constellation Brands has set its FY 2027 guidance at 11.200-11.900 EPS. Analysts predict that Constellation Brands Inc will post 11.84 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, August 13th. Shareholders of record on Thursday, July 30th will be issued a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Thursday, July 30th. Constellation Brands’s payout ratio is presently 39.31%.

Constellation Brands Company Profile

Constellation Brands, Inc is a leading producer and marketer of beer, wine and spirits, with operations spanning production, importation, marketing and distribution. The company’s beverage portfolio includes a range of premium and mainstream wines and spirits alongside major imported beer brands; in the U.S. market Constellation is widely known for its role in bringing Mexican imports such as Corona and Modelo to American consumers. Constellation supplies retail, on‑premise and foodservice channels and supports its brands with national sales and marketing platforms and supply‑chain capabilities.

The company traces its roots to the Canandaigua Wine Company, founded by Marvin Sands in 1945, and evolved through organic growth and acquisition into a diversified beverage company.