GAMMA Investing LLC Buys 391,076 Shares of Constellation Brands, Inc. (NYSE:STZ)

GAMMA Investing LLC raised its holdings in Constellation Brands, Inc. (NYSE:STZ - Free Report) by 7,602.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 396,220 shares of the company's stock after purchasing an additional 391,076 shares during the quarter. GAMMA Investing LLC owned approximately 0.22% of Constellation Brands worth $72,714,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. raised its position in Constellation Brands by 13.3% in the 4th quarter. Vanguard Group Inc. now owns 15,534,787 shares of the company's stock valued at $3,433,188,000 after purchasing an additional 1,821,969 shares during the last quarter. Capital World Investors raised its position in shares of Constellation Brands by 3.4% during the fourth quarter. Capital World Investors now owns 9,755,602 shares of the company's stock worth $2,155,946,000 after acquiring an additional 324,690 shares during the last quarter. Berkshire Hathaway Inc bought a new stake in shares of Constellation Brands during the fourth quarter worth $1,242,976,000. Geode Capital Management LLC raised its position in shares of Constellation Brands by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 3,204,003 shares of the company's stock worth $705,844,000 after acquiring an additional 63,323 shares during the last quarter. Finally, Capital Research Global Investors raised its position in shares of Constellation Brands by 0.6% during the fourth quarter. Capital Research Global Investors now owns 2,901,975 shares of the company's stock worth $641,336,000 after acquiring an additional 18,557 shares during the last quarter. Institutional investors 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 the company's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $188.54, for a total transaction of $593,901.00. Following the sale, the executive vice president now owns 3,126 shares in the company, valued at approximately $589,376.04. This represents a 50.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 12.19% of the stock is owned by insiders.

Analyst Ratings Changes

STZ has been the subject of a number of recent research reports. JPMorgan Chase & Co. dropped their target price on Constellation Brands from $203.00 to $194.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. BMO Capital Markets dropped their target price on Constellation Brands from $260.00 to $215.00 and set an "outperform" rating for the company in a research report on Friday, April 11th. Wells Fargo & Company dropped their target price on Constellation Brands from $230.00 to $210.00 and set an "overweight" rating for the company in a research report on Wednesday, April 2nd. Wall Street Zen upgraded Constellation Brands from a "sell" rating to a "hold" rating in a research report on Tuesday, May 20th. Finally, Truist Financial upgraded Constellation Brands from a "hold" rating to a "buy" rating and set a $215.00 target price for the company in a research report on Wednesday, May 7th. Ten equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $225.74.

Constellation Brands Trading Up 0.7%

NYSE:STZ traded up $1.20 on Friday, reaching $171.80. The company's stock had a trading volume of 459,684 shares, compared to its average volume of 1,781,583. Constellation Brands, Inc. has a 1-year low of $160.46 and a 1-year high of $265.70. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.46 and a current ratio of 1.10. The firm has a market cap of $30.58 billion, a PE ratio of 46.16, a PEG ratio of 1.52 and a beta of 1.75. The business's 50-day moving average price is $184.17 and its two-hundred day moving average price is $194.18.

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 for the quarter, topping the consensus estimate of $2.28 by $0.35. The company had revenue of $2.13 billion during the quarter, compared to analysts' expectations of $2.14 billion. Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. Constellation Brands's revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.26 earnings per share. Equities research analysts anticipate that Constellation Brands, Inc. will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Increases Dividend

The company 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 is a boost 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 was Tuesday, April 29th. Constellation Brands's dividend payout ratio is currently -800.00%.

About Constellation Brands

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.