Artemis Investment Management LLP Makes New Investment in Constellation Brands, Inc. (NYSE:STZ)

Artemis Investment Management LLP acquired a new position in Constellation Brands, Inc. (NYSE:STZ) during the 1st quarter, HoldingsChannel reports. The fund acquired 92,261 shares of the company’s stock, valued at approximately $25,060,000.

Several other hedge funds have also bought and sold shares of the stock. Courier Capital LLC purchased a new stake in Constellation Brands in the 1st quarter worth approximately $227,000. Fifth Third Wealth Advisors LLC lifted its position in shares of Constellation Brands by 17.5% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 1,983 shares of the company’s stock valued at $539,000 after buying an additional 296 shares in the last quarter. Dohj LLC lifted its position in shares of Constellation Brands by 224.4% during the 1st quarter. Dohj LLC now owns 6,747 shares of the company’s stock valued at $1,833,000 after buying an additional 4,667 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Constellation Brands by 2.5% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 222,452 shares of the company’s stock valued at $60,453,000 after buying an additional 5,368 shares in the last quarter. Finally, Franklin Street Advisors Inc. NC purchased a new position in shares of Constellation Brands during the 1st quarter valued at approximately $209,000. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Insider Buying and Selling

In related news, EVP Michael Mcgrew sold 3,237 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $255.50, for a total transaction of $827,053.50. Following the completion of the sale, the executive vice president now directly owns 1,731 shares of the company’s stock, valued at approximately $442,270.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO William A. Newlands sold 4,013 shares of the firm’s stock in a transaction dated Friday, April 19th. The stock was sold at an average price of $263.25, for a total transaction of $1,056,422.25. Following the completion of the sale, the chief executive officer now directly owns 5,395 shares of the company’s stock, valued at approximately $1,420,233.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michael Mcgrew sold 3,237 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $255.50, for a total value of $827,053.50. Following the transaction, the executive vice president now owns 1,731 shares of the company’s stock, valued at $442,270.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 48,031 shares of company stock valued at $12,582,321. 12.19% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on STZ. BMO Capital Markets increased their target price on Constellation Brands from $290.00 to $315.00 and gave the company an “outperform” rating in a research report on Friday, April 12th. Roth Mkm reiterated a “buy” rating and set a $305.00 target price on shares of Constellation Brands in a research report on Friday, April 12th. Jefferies Financial Group increased their target price on Constellation Brands from $292.00 to $314.00 and gave the company a “buy” rating in a research report on Friday, April 12th. Piper Sandler began coverage on Constellation Brands in a research report on Friday, March 22nd. They set an “overweight” rating and a $300.00 target price on the stock. Finally, UBS Group decreased their target price on Constellation Brands from $320.00 to $315.00 and set a “buy” rating on the stock in a research report on Thursday, June 20th. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, Constellation Brands has an average rating of “Moderate Buy” and a consensus target price of $298.37.

Constellation Brands Stock Up 0.5 %

Shares of STZ opened at $257.28 on Friday. Constellation Brands, Inc. has a 52-week low of $227.50 and a 52-week high of $274.87. The company has a market capitalization of $47.08 billion, a PE ratio of 27.43, a price-to-earnings-growth ratio of 1.73 and a beta of 0.89. The stock has a fifty day simple moving average of $255.34 and a two-hundred day simple moving average of $253.55. The company has a quick ratio of 0.53, a current ratio of 1.19 and a debt-to-equity ratio of 1.06.

Constellation Brands (NYSE:STZ) last issued its earnings results on Thursday, April 11th. The company reported $2.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.10 by $0.16. Constellation Brands had a return on equity of 23.06% and a net margin of 16.13%. The business had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.09 billion. During the same period last year, the company earned $1.98 EPS. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. As a group, equities analysts forecast that Constellation Brands, Inc. will post 13.67 EPS for the current year.

Constellation Brands Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 17th. Investors of record on Friday, May 3rd were given a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.57%. This is an increase from Constellation Brands’s previous quarterly dividend of $0.89. The ex-dividend date was Thursday, May 2nd. Constellation Brands’s dividend payout ratio (DPR) is presently 43.07%.

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.