Constellation Brands, Inc. (NYSE:STZ) Stake Increased by Pathstone Holdings LLC

Pathstone Holdings LLC raised its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 7.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,933 shares of the company’s stock after acquiring an additional 1,681 shares during the quarter. Pathstone Holdings LLC’s holdings in Constellation Brands were worth $6,425,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in STZ. New Millennium Group LLC bought a new position in shares of Constellation Brands during the second quarter worth about $25,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Constellation Brands during the 2nd quarter worth approximately $29,000. Horizon Bancorp Inc. IN acquired a new position in shares of Constellation Brands in the 2nd quarter worth approximately $32,000. Opal Wealth Advisors LLC bought a new stake in shares of Constellation Brands in the 2nd quarter valued at approximately $36,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of Constellation Brands during the 2nd quarter valued at approximately $36,000. 77.34% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. TD Cowen downgraded shares of Constellation Brands from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $300.00 to $270.00 in a report on Tuesday, October 8th. Truist Financial lowered their price objective on shares of Constellation Brands from $265.00 to $255.00 and set a “hold” rating for the company in a research report on Friday, October 4th. Bank of America reissued a “neutral” rating and issued a $255.00 target price (down previously from $300.00) on shares of Constellation Brands in a report on Monday, October 7th. Evercore ISI lowered their target price on Constellation Brands from $310.00 to $300.00 and set an “outperform” rating for the company in a report on Friday, October 4th. Finally, BMO Capital Markets cut their price target on Constellation Brands from $315.00 to $305.00 and set an “outperform” rating on the stock in a report on Tuesday, October 15th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $290.47.

Constellation Brands Stock Performance

Shares of STZ opened at $239.66 on Friday. Constellation Brands, Inc. has a 52-week low of $224.76 and a 52-week high of $274.87. The firm has a market capitalization of $43.51 billion, a PE ratio of 77.56, a P/E/G ratio of 1.70 and a beta of 0.90. The firm has a 50-day moving average price of $243.04 and a 200 day moving average price of $247.56. The company has a quick ratio of 0.53, a current ratio of 1.25 and a debt-to-equity ratio of 1.31.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings data on Thursday, October 3rd. The company reported $4.32 EPS for the quarter, beating analysts’ consensus estimates of $4.08 by $0.24. The business had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.95 billion. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. The business’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter last year, the business earned $3.70 earnings per share. On average, sell-side analysts anticipate that Constellation Brands, Inc. will post 13.57 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Tuesday, November 5th were paid a dividend of $1.01 per share. The ex-dividend date was Tuesday, November 5th. This represents a $4.04 annualized dividend and a yield of 1.69%. Constellation Brands’s dividend payout ratio is currently 130.74%.

Insider Buying and Selling

In related news, major shareholder Wildstar Partners Llc sold 660 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $241.00, for a total transaction of $159,060.00. Following the completion of the sale, the insider now directly owns 1,736,884 shares in the company, valued at approximately $418,589,044. This trade represents a 0.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Samuel J. Glaetzer sold 1,510 shares of the company’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $245.57, for a total value of $370,810.70. Following the completion of the transaction, the executive vice president now directly owns 4,970 shares in the company, valued at $1,220,482.90. This represents a 23.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 189,956 shares of company stock valued at $46,058,091 over the last three months. Company insiders own 12.19% of the company’s stock.

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.