Principal Financial Group Inc. Has $24.57 Million Stock Holdings in Constellation Brands Inc $STZ

Principal Financial Group Inc. boosted its position in Constellation Brands Inc (NYSE:STZ) by 5.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 163,829 shares of the company’s stock after acquiring an additional 8,203 shares during the quarter. Principal Financial Group Inc.’s holdings in Constellation Brands were worth $24,574,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Choreo LLC boosted its holdings in shares of Constellation Brands by 2.1% in the 4th quarter. Choreo LLC now owns 3,116 shares of the company’s stock valued at $437,000 after purchasing an additional 63 shares in the last quarter. HM Payson & Co. raised its holdings in shares of Constellation Brands by 10.0% during the 4th quarter. HM Payson & Co. now owns 701 shares of the company’s stock worth $97,000 after buying an additional 64 shares in the last quarter. Clearstead Trust LLC raised its holdings in shares of Constellation Brands by 14.2% during the 4th quarter. Clearstead Trust LLC now owns 548 shares of the company’s stock worth $76,000 after buying an additional 68 shares in the last quarter. Johnson Financial Group Inc. lifted its position in shares of Constellation Brands by 24.9% during the 4th quarter. Johnson Financial Group Inc. now owns 346 shares of the company’s stock worth $48,000 after buying an additional 69 shares during the last quarter. Finally, HB Wealth Management LLC lifted its position in shares of Constellation Brands by 0.7% during the 1st quarter. HB Wealth Management LLC now owns 10,795 shares of the company’s stock worth $1,619,000 after buying an additional 72 shares during the last quarter. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

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

Wall Street Analysts Forecast Growth

STZ has been the topic of a number of analyst reports. TD Cowen reaffirmed a “buy” rating and issued a $174.00 price objective on shares of Constellation Brands in a research note on Wednesday, July 1st. Bank of America lowered their target price on shares of Constellation Brands from $152.00 to $145.00 and set an “underperform” rating for the company in a research note on Thursday, July 2nd. UBS Group dropped their target price on shares of Constellation Brands from $186.00 to $175.00 and set a “buy” rating on the stock in a report on Wednesday, June 17th. Jefferies Financial Group set a $147.00 price target on shares of Constellation Brands in a research report on Thursday, July 2nd. Finally, Freedom Capital downgraded Constellation Brands from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 1st. Eleven analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $167.89.

Constellation Brands Price Performance

Shares of NYSE:STZ opened at $134.41 on Tuesday. Constellation Brands Inc has a twelve month low of $126.45 and a twelve month high of $178.13. The stock’s 50 day moving average is $140.34 and its 200-day moving average is $149.53. The company has a quick ratio of 0.48, a current ratio of 0.91 and a debt-to-equity ratio of 1.06. The firm has a market capitalization of $22.95 billion, a price-to-earnings ratio of 12.83, a PEG ratio of 4.14 and a beta of 0.39.

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 the consensus estimate of $3.70 by ($0.27). Constellation Brands had a net margin of 18.87% and a return on equity of 25.58%. The company had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.39 billion. During the same quarter in the previous year, the company posted $3.22 EPS. Constellation Brands’s quarterly revenue was down 3.3% compared to the same quarter last year. Constellation Brands has set its FY 2027 guidance at 11.200-11.900 EPS. Sell-side analysts forecast that Constellation Brands Inc will post 11.82 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 13th. Stockholders of record on Thursday, July 30th will be given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Thursday, July 30th. Constellation Brands’s dividend payout ratio is currently 39.31%.

Constellation Brands 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.