Blue Zone Wealth Advisors LLC Raises Stock Position in Constellation Brands, Inc. (NYSE:STZ)

Blue Zone Wealth Advisors LLC grew its stake in Constellation Brands, Inc. (NYSE:STZ - Free Report) by 10.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,079 shares of the company's stock after buying an additional 2,078 shares during the period. Blue Zone Wealth Advisors LLC's holdings in Constellation Brands were worth $4,052,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in STZ. Brighton Jones LLC raised its holdings in shares of Constellation Brands by 23.0% in the fourth quarter. Brighton Jones LLC now owns 1,001 shares of the company's stock worth $221,000 after buying an additional 187 shares during the last quarter. Stratos Wealth Advisors LLC raised its holdings in shares of Constellation Brands by 4.1% in the fourth quarter. Stratos Wealth Advisors LLC now owns 3,033 shares of the company's stock worth $670,000 after buying an additional 120 shares during the last quarter. YANKCOM Partnership purchased a new position in shares of Constellation Brands in the fourth quarter worth $94,000. Hedeker Wealth LLC raised its holdings in shares of Constellation Brands by 0.6% in the fourth quarter. Hedeker Wealth LLC now owns 16,126 shares of the company's stock worth $3,564,000 after buying an additional 100 shares during the last quarter. Finally, Strategic Financial Concepts LLC purchased a new position in shares of Constellation Brands in the fourth quarter worth $6,382,000. Hedge funds and other institutional investors own 77.34% of the company's stock.

Constellation Brands Price Performance

STZ traded up $1.28 during midday trading on Friday, hitting $171.88. 1,547,430 shares of the company traded hands, compared to its average volume of 1,792,156. The company has a current ratio of 1.10, a quick ratio of 0.46 and a debt-to-equity ratio of 1.26. The company has a market capitalization of $30.60 billion, a price-to-earnings ratio of 46.20, a PEG ratio of 1.52 and a beta of 1.75. Constellation Brands, Inc. has a 52-week low of $160.46 and a 52-week high of $265.70. The business has a 50 day simple moving average of $183.90 and a two-hundred day simple moving average of $193.39.

Constellation Brands (NYSE:STZ - Get Free Report) last posted its quarterly earnings data on Wednesday, April 9th. The company reported $2.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.28 by $0.35. The business had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.14 billion. Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. The company's revenue was up 1.2% compared to the same quarter last year. During the same period last year, the firm posted $2.26 earnings per share. On average, equities analysts forecast that Constellation Brands, Inc. will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Tuesday, April 29th were paid a $1.02 dividend. This is an increase from Constellation Brands's previous quarterly dividend of $1.01. This represents a $4.08 annualized dividend and a dividend yield of 2.37%. The ex-dividend date of this dividend was Tuesday, April 29th. Constellation Brands's dividend payout ratio (DPR) is currently -800.00%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. BMO Capital Markets cut their price objective on shares of Constellation Brands from $260.00 to $215.00 and set an "outperform" rating on the stock in a research note on Friday, April 11th. JPMorgan Chase & Co. cut their price objective on shares of Constellation Brands from $203.00 to $194.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Truist Financial upgraded shares of Constellation Brands from a "hold" rating to a "buy" rating and set a $215.00 price objective on the stock in a research note on Wednesday, May 7th. Wells Fargo & Company cut their price objective on shares of Constellation Brands from $230.00 to $210.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 2nd. Finally, Citigroup cut their price objective on shares of Constellation Brands from $200.00 to $190.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat, Constellation Brands presently has an average rating of "Moderate Buy" and an average price target of $225.74.

Insider Transactions at Constellation Brands

In other news, EVP Samuel J. Glaetzer sold 3,150 shares of the firm's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $188.54, for a total value of $593,901.00. Following the transaction, the executive vice president now directly owns 3,126 shares of the company's stock, valued at approximately $589,376.04. This trade represents a 50.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 12.19% of the company's stock.

Constellation Brands 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.