The Vanguard Group, Inc. recently announced the acquisition of new stake in Constellation Brands Inc. (NYSE:STZ). The institutional investor has increased its shareholding in the Consumer Defensive company by 6.79% to 12.42 million shares with purchase of 0.79 million shares. This fresh investment now brings its stake to 6.78% valued currently at $2.85 billion. In addition, SSgA Funds Management, Inc. raised its holdings by 0.17 million to 7.03 million shares. And T. Rowe Price Associates, Inc. has lifted its position by 52.16% or 1.35 million shares – to 3.93 million shares.
With over 1.72 million Constellation Brands Inc. (STZ) shares trading Monday and a closing price of $235.46 on the day, the dollar volume was approximately $403.94 million. The shares have shown a negative half year performance of -3.84% and its price on 05/22/23 gained nearly 0.07%. Currently, there are 206.84M common shares owned by the public and among those 149.77M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 23 analysts who have offered their price forecasts for STZ have a consensus price objective of $257.66. The analysts have set the share’s price value over the next 12 months at a high of $295.00 and a low of $216.00. The average price target is 9.11% above its recent price level and a downside to the estimated low will see the stock lose -9.01% over that period. But an upside of 20.18% will see the stock hit the forecast high price target while median target price for the stock is $260.00.
Insiders at the company have transacted a total of 74 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 42 of these insider trades were purchases, accounting for 65,923,753 shares. Insider sales of the common stock occurred on 32 occasions, with total insider shares sold totaling 22,269,609 shares.
The top 3 mutual fund holders in Constellation Brands Inc. are Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and Washington Mutual Investors Fund. Vanguard Total Stock Market ETF owns 4.85 million shares of the company’s stock, all valued at over $1.11 billion. The company bought an additional 28135.0 shares recently to bring their total holdings to about 2.65% of the shares outstanding. Vanguard 500 Index Fund bought 18300.0 shares to see its total holdings expand to 3.79 million shares valued at over $869.79 million and representing 2.07% of the shares outstanding. Washington Mutual Investors Fund bought 2.28 million shares to bring its total holdings to over 2.28 million shares at a value of $522.77 million. Washington Mutual Investors Fund now owns shares totaling to 1.24% of the shares outstanding.
Shares of Constellation Brands Inc. (NYSE: STZ) opened at $235.62, up $0.33 from a prior closing price of $235.29. However, the script later moved the day high at 236.98, up 0.07%. The company’s stock has a 5-day price change of 2.23% and 5.54% over the past three months. STZ shares are trading 1.60% year to date (YTD), with the 12-month market performance up to 0.27% higher. It has a 12-month low price of $208.12 and touched a high of $261.32 over the same period. STZ has an average intraday trading volume of 1.09 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 3.45%, 5.24%, and 1.06% respectively.
Institutional ownership of Constellation Brands Inc. (NYSE: STZ) shares accounts for 73.70% of the company’s 206.84M shares outstanding. Mutual fund holders own 45.47%, while other institutional holders and individual stakeholders account for 9.80% and 28.74% respectively.
It has a market capitalization of $42.57B and a beta (3y monthly) value of 1.03. The earnings-per-share (ttm) stands at -$0.67. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.62% over the week and 1.59% over the month.
Analysts forecast that Constellation Brands Inc. (STZ) will achieve an EPS of $2.82 for the current quarter, $3.34 for the next quarter and $13.23 for 2025. The lowest estimate earnings-per-share for the quarter is $2.73 while analysts give the company a high EPS estimate of $2.98. Comparatively, EPS for the current quarter was $2.66 a year ago. Earnings per share for the fiscal year are expected to decrease by -74.00%, and 14.16% over the next financial year. EPS should grow at an annualized rate of 9.59% over the next five years, compared to -15.30% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 23 brokerage firm advisors rate Constellation Brands Inc. (STZ) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 13 Wall Street analysts polled rate the stock as a buy, while 7 of the 23 advise that investors “hold,” and 0 rated it as a “Sell.”
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