Constellation Brands, Inc. (NYSE:STZ) Shares Bought by Confluence Investment Management LLC

Confluence Investment Management LLC lifted its position in shares of Constellation Brands, Inc. (NYSE:STZ - Free Report) by 13.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 141,373 shares of the company's stock after buying an additional 16,791 shares during the quarter. Confluence Investment Management LLC owned approximately 0.08% of Constellation Brands worth $25,945,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Allworth Financial LP raised its stake in shares of Constellation Brands by 0.8% during the 4th quarter. Allworth Financial LP now owns 7,357 shares of the company's stock worth $1,626,000 after buying an additional 59 shares during the last quarter. BSW Wealth Partners raised its stake in Constellation Brands by 4.2% in the 4th quarter. BSW Wealth Partners now owns 1,563 shares of the company's stock valued at $345,000 after purchasing an additional 63 shares during the last quarter. Philip James Wealth Mangement LLC raised its stake in Constellation Brands by 8.0% in the 4th quarter. Philip James Wealth Mangement LLC now owns 923 shares of the company's stock valued at $204,000 after purchasing an additional 68 shares during the last quarter. Barden Capital Management Inc. raised its stake in Constellation Brands by 1.3% in the 4th quarter. Barden Capital Management Inc. now owns 5,574 shares of the company's stock valued at $1,232,000 after purchasing an additional 72 shares during the last quarter. Finally, Vista Investment Management raised its stake in Constellation Brands by 0.7% in the 4th quarter. Vista Investment Management now owns 11,479 shares of the company's stock valued at $2,537,000 after purchasing an additional 84 shares during the last quarter. Institutional investors and hedge funds own 77.34% of the company's stock.

Insiders Place Their Bets

In other Constellation Brands news, EVP Samuel J. Glaetzer sold 3,150 shares of the 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 sale, the executive vice president now directly 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 this link. 12.19% of the stock is owned by corporate insiders.

Constellation Brands Stock Performance

Shares of STZ stock traded down $1.61 on Friday, hitting $178.10. 3,033,821 shares of the stock traded hands, compared to its average volume of 1,772,571. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.10 and a quick ratio of 0.46. The company has a market capitalization of $31.71 billion, a PE ratio of 47.88, a PEG ratio of 1.52 and a beta of 1.75. Constellation Brands, Inc. has a 1-year low of $160.46 and a 1-year high of $265.70. The company's fifty day moving average is $184.91 and its 200 day moving average is $195.97.

Constellation Brands (NYSE:STZ - Get Free Report) last posted its quarterly earnings results 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. Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The business had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.14 billion. During the same period in the prior year, the company posted $2.26 EPS. The business's revenue was up 1.2% compared to the same quarter last year. On average, equities research analysts predict that Constellation Brands, Inc. will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Tuesday, April 29th were given a $1.02 dividend. The ex-dividend date of this dividend was Tuesday, April 29th. This is a positive change from Constellation Brands's previous quarterly dividend of $1.01. This represents a $4.08 annualized dividend and a yield of 2.29%. Constellation Brands's dividend payout ratio (DPR) is currently -800.00%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on STZ. Piper Sandler downgraded shares of Constellation Brands from an "overweight" rating to a "neutral" rating and cut their target price for the company from $245.00 to $200.00 in a research note on Monday, February 3rd. Wall Street Zen raised shares of Constellation Brands from a "sell" rating to a "hold" rating in a research note on Tuesday, May 20th. Morgan Stanley cut their target price on shares of Constellation Brands from $202.00 to $195.00 and set an "equal weight" rating for the company in a research note on Friday, April 11th. The Goldman Sachs Group cut their target price on shares of Constellation Brands from $260.00 to $225.00 and set a "buy" rating for the company in a research note on Friday, April 11th. Finally, Wells Fargo & Company cut their target price on shares of Constellation Brands from $230.00 to $210.00 and set an "overweight" rating for the company in a research note on Wednesday, April 2nd. Ten equities 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, the stock presently has an average rating of "Moderate Buy" and an average target price of $225.74.

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.