Crestwood Advisors Group LLC Has $21.27 Million Stock Position in Constellation Brands Inc (NYSE:STZ)

Crestwood Advisors Group LLC lowered its position in shares of Constellation Brands Inc (NYSE:STZ - Free Report) by 10.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 115,905 shares of the company's stock after selling 13,314 shares during the quarter. Crestwood Advisors Group LLC owned 0.06% of Constellation Brands worth $21,271,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in STZ. Vanguard Group Inc. lifted its holdings in Constellation Brands by 13.3% during 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 increased its position in Constellation Brands by 3.4% during the 4th quarter. Capital World Investors now owns 9,755,602 shares of the company's stock worth $2,155,946,000 after buying an additional 324,690 shares during the period. Berkshire Hathaway Inc bought a new position in Constellation Brands during the 4th quarter worth $1,242,976,000. Geode Capital Management LLC increased its position in Constellation Brands by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 3,204,003 shares of the company's stock worth $705,844,000 after buying an additional 63,323 shares during the period. Finally, Capital Research Global Investors increased its position in Constellation Brands by 0.6% during the 4th quarter. Capital Research Global Investors now owns 2,901,975 shares of the company's stock worth $641,336,000 after buying an additional 18,557 shares during the period. Institutional investors and hedge funds own 77.34% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Bernstein Bank decreased their price target on Constellation Brands from $260.00 to $225.00 and set an "outperform" rating on the stock in a research report on Thursday, April 10th. Citigroup raised their price objective on shares of Constellation Brands from $170.00 to $174.00 and gave the company a "neutral" rating in a report on Thursday, July 3rd. Piper Sandler boosted their target price on shares of Constellation Brands from $165.00 to $170.00 and gave the stock a "neutral" rating in a report on Friday, June 6th. Truist Financial raised shares of Constellation Brands from a "hold" rating to a "buy" rating and boosted their target price for the stock from $190.00 to $215.00 in a report on Wednesday, May 7th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Constellation Brands from $170.00 to $182.00 and gave the stock a "neutral" rating in a report on Thursday, July 3rd. Eleven equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Constellation Brands has an average rating of "Moderate Buy" and an average price target of $213.74.

Constellation Brands Trading Up 0.2%

Shares of Constellation Brands stock opened at $170.95 on Monday. The stock has a market capitalization of $30.14 billion, a P/E ratio of -71.74, a P/E/G ratio of 10.32 and a beta of 0.67. The stock's 50-day simple moving average is $173.47 and its 200 day simple moving average is $179.24. Constellation Brands Inc has a 52-week low of $159.35 and a 52-week high of $261.06. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.68 and a current ratio of 1.07.

Constellation Brands (NYSE:STZ - Get Free Report) last issued its quarterly earnings results on Tuesday, July 1st. The company reported $3.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.45 by ($0.23). Constellation Brands had a positive return on equity of 31.41% and a negative net margin of 4.11%. The business had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.57 billion. During the same quarter in the previous year, the business earned $3.57 earnings per share. The firm's revenue was down 5.5% compared to the same quarter last year. As a group, research analysts anticipate that Constellation Brands Inc will post 13.5 EPS for the current year.

Constellation Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Wednesday, July 30th will be paid a $1.02 dividend. The ex-dividend date of this dividend is Wednesday, July 30th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.39%. Constellation Brands's dividend payout ratio is currently -170.71%.

Insider Activity at Constellation Brands

In other 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 directly owned 3,126 shares of the company's stock, 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 link. Corporate insiders own 12.45% of the company's stock.

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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