Ballentine Partners LLC Raises Position in Constellation Brands, Inc. (NYSE:STZ)

Ballentine Partners LLC boosted its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 6.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,588 shares of the company’s stock after acquiring an additional 146 shares during the period. Ballentine Partners LLC’s holdings in Constellation Brands were worth $703,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Perigon Wealth Management LLC grew its holdings in shares of Constellation Brands by 46.0% during the fourth quarter. Perigon Wealth Management LLC now owns 6,012 shares of the company’s stock worth $1,453,000 after purchasing an additional 1,893 shares in the last quarter. Stifel Financial Corp boosted its holdings in shares of Constellation Brands by 3.2% in the 4th quarter. Stifel Financial Corp now owns 192,585 shares of the company’s stock worth $46,570,000 after purchasing an additional 5,951 shares in the last quarter. CoreCap Advisors LLC grew its position in Constellation Brands by 35.8% during the 4th quarter. CoreCap Advisors LLC now owns 2,002 shares of the company’s stock worth $484,000 after acquiring an additional 528 shares during the last quarter. Ascent Wealth Partners LLC purchased a new stake in shares of Constellation Brands during the fourth quarter valued at approximately $962,000. Finally, KBC Group NV increased its stake in shares of Constellation Brands by 100.4% in the fourth quarter. KBC Group NV now owns 250,945 shares of the company’s stock worth $60,666,000 after buying an additional 125,730 shares during the period. 77.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Constellation Brands

In other Constellation Brands news, EVP James A. Jr. Sabia sold 15,781 shares of the stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $263.63, for a total transaction of $4,160,345.03. Following the transaction, the executive vice president now directly owns 20,910 shares in the company, valued at approximately $5,512,503.30. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Constellation Brands news, EVP Michael Mcgrew sold 3,237 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $255.50, for a total value of $827,053.50. Following the completion of the sale, the executive vice president now directly owns 1,731 shares in the company, valued at $442,270.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP James A. Jr. Sabia sold 15,781 shares of the company’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $263.63, for a total value of $4,160,345.03. Following the transaction, the executive vice president now directly owns 20,910 shares in the company, valued at $5,512,503.30. The disclosure for this sale can be found here. Insiders have sold 48,031 shares of company stock worth $12,582,321 over the last quarter. Insiders own 12.19% of the company’s stock.

Constellation Brands Stock Performance

Shares of STZ traded up $2.10 during mid-day trading on Monday, hitting $265.60. 95,204 shares of the company traded hands, compared to its average volume of 1,183,976. Constellation Brands, Inc. has a 1 year low of $227.50 and a 1 year high of $274.87. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.53 and a current ratio of 1.19. The stock has a 50-day moving average price of $255.18 and a two-hundred day moving average price of $252.94. The stock has a market cap of $48.60 billion, a price-to-earnings ratio of 28.09, a P/E/G ratio of 1.75 and a beta of 0.89.

Constellation Brands (NYSE:STZ) last announced its earnings results on Thursday, April 11th. The company reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.10 by $0.16. The company had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.09 billion. Constellation Brands had a net margin of 16.13% and a return on equity of 23.06%. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.98 earnings per share. Equities analysts anticipate that Constellation Brands, Inc. will post 13.66 earnings per share for the current year.

Constellation Brands Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 17th. Investors of record on Friday, May 3rd were given a $1.01 dividend. The ex-dividend date was Thursday, May 2nd. This is an increase from Constellation Brands’s previous quarterly dividend of $0.89. This represents a $4.04 dividend on an annualized basis and a yield of 1.52%. Constellation Brands’s dividend payout ratio (DPR) is currently 43.07%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on STZ shares. UBS Group cut their target price on Constellation Brands from $320.00 to $315.00 and set a “buy” rating on the stock in a research note on Thursday. Piper Sandler started coverage on Constellation Brands in a research note on Friday, March 22nd. They issued an “overweight” rating and a $300.00 price target for the company. Evercore ISI upped their price objective on shares of Constellation Brands from $300.00 to $310.00 and gave the stock an “outperform” rating in a report on Friday, April 12th. Argus upgraded shares of Constellation Brands from a “hold” rating to a “buy” rating and set a $306.00 price target on the stock in a research report on Monday, April 15th. Finally, Barclays reduced their target price on Constellation Brands from $295.00 to $288.00 and set an “overweight” rating on the stock in a report on Wednesday, May 29th. Three research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Constellation Brands has a consensus rating of “Moderate Buy” and a consensus price target of $298.37.

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.