Coho Partners Ltd. decreased its holdings in Constellation Brands Inc (NYSE:STZ - Free Report) by 20.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 173,644 shares of the company's stock after selling 43,772 shares during the period. Constellation Brands comprises approximately 1.9% of Coho Partners Ltd.'s holdings, making the stock its 29th largest holding. Coho Partners Ltd. owned approximately 0.10% of Constellation Brands worth $31,867,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Brighton Jones LLC grew its position in shares of Constellation Brands by 23.0% during the 4th quarter. Brighton Jones LLC now owns 1,001 shares of the company's stock worth $221,000 after buying an additional 187 shares in the last quarter. Bank Pictet & Cie Europe AG grew its position in shares of Constellation Brands by 39.7% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 6,096 shares of the company's stock worth $1,347,000 after buying an additional 1,733 shares in the last quarter. Strategic Financial Concepts LLC bought a new position in shares of Constellation Brands during the 4th quarter worth $236,000. Ieq Capital LLC grew its position in shares of Constellation Brands by 248.6% during the 4th quarter. Ieq Capital LLC now owns 9,734 shares of the company's stock worth $2,151,000 after buying an additional 6,942 shares in the last quarter. Finally, Centricity Wealth Management LLC bought a new position in shares of Constellation Brands during the 4th quarter worth $35,000. Hedge funds and other institutional investors own 77.34% of the company's stock.
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 stock was sold at an average price of $188.54, for a total value of $593,901.00. Following the completion of the transaction, the executive vice president now directly owns 3,126 shares in the company, valued at $589,376.04. This trade represents a 50.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 12.45% of the company's stock.
Wall Street Analyst Weigh In
A number of research firms have recently issued reports on STZ. Citigroup dropped their price target on Constellation Brands from $190.00 to $170.00 and set a "neutral" rating on the stock in a research report on Wednesday. Jefferies Financial Group dropped their price target on Constellation Brands from $201.00 to $196.00 in a research report on Friday, April 11th. The Goldman Sachs Group dropped their price target on Constellation Brands from $260.00 to $225.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. Needham & Company LLC reaffirmed a "buy" rating and set a $215.00 price objective on shares of Constellation Brands in a research report on Thursday, April 10th. Finally, Piper Sandler raised their price objective on Constellation Brands from $165.00 to $170.00 and gave the company a "neutral" rating in a research report on Friday, June 6th. Eleven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, Constellation Brands has a consensus rating of "Moderate Buy" and an average price target of $215.87.
View Our Latest Research Report on Constellation Brands
Constellation Brands Trading Up 1.4%
Constellation Brands stock opened at $162.30 on Friday. The stock has a 50-day moving average of $181.16 and a two-hundred day moving average of $188.32. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.56 and a current ratio of 0.92. Constellation Brands Inc has a one year low of $159.35 and a one year high of $265.70. The stock has a market cap of $28.89 billion, a PE ratio of -318.23, a price-to-earnings-growth ratio of 8.80 and a beta of 0.70.
Constellation Brands (NYSE:STZ - Get Free Report) last released its quarterly earnings results on Wednesday, April 9th. The company reported $2.63 EPS for the quarter, beating analysts' consensus estimates of $2.28 by $0.35. Constellation Brands had a positive return on equity of 29.56% and a negative net margin of 0.74%. The company had revenue of $2.13 billion during the quarter, compared to analysts' expectations of $2.14 billion. During the same period last year, the business posted $2.26 earnings per share. The firm's revenue was up 1.2% compared to the same quarter last year. On average, research analysts anticipate that Constellation Brands Inc will post 13.5 EPS for the current fiscal year.
Constellation Brands Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Tuesday, April 29th were paid a $1.02 dividend. The ex-dividend date was Tuesday, April 29th. This is a boost from Constellation Brands's previous quarterly dividend of $1.01. This represents a $4.08 dividend on an annualized basis and a yield of 2.51%. Constellation Brands's dividend payout ratio (DPR) is -800.00%.
Constellation Brands Company Profile
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Free Report)
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.
See Also
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