Ashton Thomas Private Wealth LLC Takes $1.58 Million Position in Constellation Brands Inc $STZ

Key Points

• Ashton Thomas Private Wealth LLC initiated a new position in Constellation Brands, buying 11,474 shares valued at approximately $1.58 million in the 4th quarter, and institutional investors now own about 77.34% of the stock.
• Constellation beat quarterly estimates with EPS of $1.90 vs. $1.71 and revenue of $1.92 billion despite an 11.3% YoY revenue decline, raised its quarterly dividend to $1.03 (annualized $4.12, 2.7% yield), and holds a consensus analyst rating of "Moderate Buy" with an average target of $178.14.

Ashton Thomas Private Wealth LLC purchased a new stake in shares of Constellation Brands Inc (NYSE:STZ - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 11,474 shares of the company's stock, valued at approximately $1,583,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Pictet Asset Management Holding SA lifted its holdings in shares of Constellation Brands by 0.6% during the 4th quarter. Pictet Asset Management Holding SA now owns 64,032 shares of the company's stock valued at $8,834,000 after buying an additional 412 shares during the period. Teachers Retirement System of The State of Kentucky lifted its holdings in shares of Constellation Brands by 129.6% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 28,065 shares of the company's stock valued at $3,871,000 after buying an additional 15,840 shares during the period. Mowery & Schoenfeld Wealth Management LLC bought a new position in shares of Constellation Brands during the 4th quarter valued at $39,000. M&T Bank Corp lifted its holdings in shares of Constellation Brands by 63.1% during the 4th quarter. M&T Bank Corp now owns 29,120 shares of the company's stock valued at $4,017,000 after buying an additional 11,269 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH lifted its holdings in shares of Constellation Brands by 18.7% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 87,856 shares of the company's stock valued at $12,290,000 after buying an additional 13,814 shares during the period. 77.34% of the stock is owned by institutional investors.

Constellation Brands Price Performance

Shares of Constellation Brands stock opened at $150.44 on Thursday. Constellation Brands Inc has a one year low of $126.45 and a one year high of $196.91. The stock's fifty day moving average is $154.62 and its 200 day moving average is $147.60. The stock has a market cap of $26.09 billion, a P/E ratio of 15.69, a P/E/G ratio of 3.40 and a beta of 0.44. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.55 and a current ratio of 1.08.

Constellation Brands (NYSE:STZ - Get Free Report) last issued its quarterly earnings results on Wednesday, April 8th. The company reported $1.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.71 by $0.19. Constellation Brands had a return on equity of 26.18% and a net margin of 17.29%.The business had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same quarter in the prior year, the business posted $2.63 EPS. Constellation Brands's revenue for the quarter was down 11.3% compared to the same quarter last year. Sell-side analysts anticipate that Constellation Brands Inc will post 11.9 earnings per share for the current year.

Constellation Brands Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 14th. Shareholders of record on Wednesday, April 29th will be paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Wednesday, April 29th. This is a boost from Constellation Brands's previous quarterly dividend of $1.02. Constellation Brands's dividend payout ratio (DPR) is currently 42.54%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on STZ shares. Weiss Ratings raised Constellation Brands from a "sell (d+)" rating to a "hold (c-)" rating in a report on Thursday, February 5th. Piper Sandler increased their price target on Constellation Brands from $146.00 to $160.00 and gave the company a "neutral" rating in a report on Friday, April 10th. Roth Mkm reaffirmed a "buy" rating on shares of Constellation Brands in a report on Thursday, April 9th. Bank of America raised their target price on Constellation Brands from $142.00 to $154.00 and gave the stock an "underperform" rating in a report on Friday, April 10th. Finally, TD Cowen raised Constellation Brands from a "hold" rating to a "buy" rating and raised their target price for the stock from $142.00 to $190.00 in a report on Monday, April 13th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $178.14.

Constellation Brands Profile

Constellation Brands, Inc is a leading producer and marketer of beer, wine and spirits, with operations spanning production, importation, marketing and distribution. The company's beverage portfolio includes a range of premium and mainstream wines and spirits alongside major imported beer brands; in the U.S. market Constellation is widely known for its role in bringing Mexican imports such as Corona and Modelo to American consumers. Constellation supplies retail, on‑premise and foodservice channels and supports its brands with national sales and marketing platforms and supply‑chain capabilities.

The company traces its roots to the Canandaigua Wine Company, founded by Marvin Sands in 1945, and evolved through organic growth and acquisition into a diversified beverage company.

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