Golden State Equity Partners Invests $484,000 in Constellation Brands Inc (NYSE:STZ)

Golden State Equity Partners bought a new stake in Constellation Brands Inc (NYSE:STZ - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,638 shares of the company's stock, valued at approximately $484,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Mainstream Capital Management LLC acquired a new stake in Constellation Brands during the 4th quarter worth approximately $25,000. SBI Securities Co. Ltd. purchased a new stake in shares of Constellation Brands during the fourth quarter worth approximately $26,000. Union Bancaire Privee UBP SA acquired a new stake in shares of Constellation Brands during the fourth quarter worth $28,000. Minot DeBlois Advisors LLC purchased a new position in Constellation Brands in the 4th quarter valued at $29,000. Finally, Optiver Holding B.V. purchased a new position in Constellation Brands in the 4th quarter valued at $31,000. Hedge funds and other institutional investors own 77.34% of the company's stock.

Constellation Brands Price Performance

Shares of NYSE:STZ traded down $0.16 on Thursday, hitting $161.37. The company had a trading volume of 2,097,793 shares, compared to its average volume of 1,859,572. The company has a current ratio of 0.92, a quick ratio of 0.56 and a debt-to-equity ratio of 1.30. The company has a market cap of $28.73 billion, a PE ratio of -316.41, a PEG ratio of 9.07 and a beta of 0.70. Constellation Brands Inc has a 52-week low of $159.35 and a 52-week high of $264.45. The business has a 50 day moving average of $179.85 and a 200 day moving average of $187.09.

Constellation Brands (NYSE:STZ - Get Free Report) last announced its earnings results on Wednesday, April 9th. The company reported $2.63 earnings per share for the quarter, beating the consensus estimate of $2.28 by $0.35. Constellation Brands had a negative net margin of 0.74% and a positive return on equity of 29.56%. The firm had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.14 billion. During the same quarter in the previous year, the company posted $2.26 EPS. The firm's revenue for the quarter was up 1.2% on a year-over-year basis. As a group, equities analysts anticipate that Constellation Brands Inc will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Tuesday, April 29th were given a dividend of $1.02 per share. The ex-dividend date was Tuesday, April 29th. This represents a $4.08 dividend on an annualized basis and a yield of 2.53%. This is a positive change from Constellation Brands's previous quarterly dividend of $1.01. Constellation Brands's dividend payout ratio (DPR) is -800.00%.

Insider Buying and Selling

In related news, EVP Samuel J. Glaetzer sold 3,150 shares of Constellation Brands stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $188.54, for a total value of $593,901.00. Following the transaction, the executive vice president now owns 3,126 shares in the company, valued at approximately $589,376.04. This trade represents a 50.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 12.45% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on STZ shares. Roth Mkm reduced their target price on shares of Constellation Brands from $284.00 to $256.00 and set a "buy" rating for the company in a research note on Thursday, April 3rd. JPMorgan Chase & Co. dropped their price target on shares of Constellation Brands from $194.00 to $170.00 and set a "neutral" rating on the stock in a research note on Thursday. Piper Sandler increased their price target on shares of Constellation Brands from $165.00 to $170.00 and gave the stock a "neutral" rating in a report on Friday, June 6th. The Goldman Sachs Group lowered their price objective on Constellation Brands from $260.00 to $225.00 and set a "buy" rating on the stock in a report on Friday, April 11th. Finally, DA Davidson dropped their target price on Constellation Brands from $272.00 to $241.00 in a research report on Friday, April 11th. Eleven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $211.91.

About Constellation Brands

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.