Birch Hill Investment Advisors LLC Has $2.61 Million Stock Holdings in Constellation Brands, Inc. (NYSE:STZ)

Birch Hill Investment Advisors LLC trimmed its holdings in shares of Constellation Brands, Inc. (NYSE:STZ - Free Report) by 90.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,205 shares of the company's stock after selling 134,169 shares during the quarter. Birch Hill Investment Advisors LLC's holdings in Constellation Brands were worth $2,607,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the stock. Mainstream Capital Management LLC acquired a new stake in shares of Constellation Brands in the fourth quarter valued at about $25,000. SBI Securities Co. Ltd. acquired a new stake in Constellation Brands in the 4th quarter valued at $26,000. Union Bancaire Privee UBP SA acquired a new stake in shares of Constellation Brands in the 4th quarter valued at $28,000. Minot DeBlois Advisors LLC acquired a new position in Constellation Brands in the fourth quarter valued at about $29,000. Finally, Optiver Holding B.V. acquired a new position in shares of Constellation Brands in the 4th quarter worth approximately $31,000. Institutional investors and hedge funds own 77.34% of the company's stock.

Insider Transactions at Constellation Brands

In related news, EVP Samuel J. Glaetzer sold 3,150 shares of Constellation Brands stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $188.54, for a total transaction of $593,901.00. Following the completion of the transaction, the executive vice president now owns 3,126 shares of the company's stock, valued at $589,376.04. This trade represents a 50.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 12.19% of the stock is owned by corporate insiders.

Constellation Brands Stock Down 1.3%

NYSE:STZ opened at $162.70 on Tuesday. The company has a market cap of $28.96 billion, a PE ratio of 43.74, a P/E/G ratio of 1.52 and a beta of 1.75. The firm's 50 day simple moving average is $183.05 and its 200 day simple moving average is $190.12. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.10 and a quick ratio of 0.46. Constellation Brands, Inc. has a one year low of $160.46 and a one year high of $265.70.

Constellation Brands (NYSE:STZ - Get Free Report) last issued its quarterly earnings results on Wednesday, April 9th. The company reported $2.63 EPS for the quarter, topping analysts' consensus estimates of $2.28 by $0.35. The company had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.14 billion. Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. Constellation Brands's revenue was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.26 earnings per share. On average, research analysts anticipate that Constellation Brands, Inc. will post 13.5 earnings per share for the current year.

Constellation Brands Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Tuesday, April 29th were given a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.51%. This is an increase from Constellation Brands's previous quarterly dividend of $1.01. The ex-dividend date was Tuesday, April 29th. Constellation Brands's dividend payout ratio (DPR) is -800.00%.

Wall Street Analyst Weigh In

STZ has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Constellation Brands from $191.00 to $185.00 and set a "hold" rating on the stock in a research report on Thursday, June 5th. Citigroup dropped their price target on Constellation Brands from $200.00 to $190.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. DA Davidson dropped their price objective on shares of Constellation Brands from $272.00 to $241.00 in a report on Friday, April 11th. Truist Financial upgraded shares of Constellation Brands from a "hold" rating to a "buy" rating and raised their price objective for the stock from $190.00 to $215.00 in a report on Wednesday, May 7th. Finally, Bernstein Bank dropped their price target on Constellation Brands from $260.00 to $225.00 and set an "outperform" rating on the stock in a research note on Thursday, April 10th. Eleven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $220.00.

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.

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