Crestwood Advisors Group LLC Has $5.02 Million Stock Position in Constellation Brands Inc $STZ

Key Points

• Crestwood Advisors Group cut its Constellation Brands stake by 38.3% in the fourth quarter, ending with 36,347 shares valued at about $5.02 million.
• Constellation Brands reported better-than-expected quarterly results, with EPS of $1.90 versus $1.71 expected and revenue of $1.92 billion versus $1.84 billion expected, even though revenue fell 11.3% year over year.
• The company raised its quarterly dividend to $1.03 per share from $1.02, implying an annualized dividend of $4.12 and a yield of 2.8%.

Crestwood Advisors Group LLC lowered its holdings in shares of Constellation Brands Inc (NYSE:STZ - Free Report) by 38.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 36,347 shares of the company's stock after selling 22,543 shares during the period. Crestwood Advisors Group LLC's holdings in Constellation Brands were worth $5,015,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Choreo LLC grew its stake in Constellation Brands by 2.1% during the fourth quarter. Choreo LLC now owns 3,116 shares of the company's stock worth $437,000 after purchasing an additional 63 shares during the period. Dynamic Advisor Solutions LLC grew its stake in Constellation Brands by 2.2% during the fourth quarter. Dynamic Advisor Solutions LLC now owns 3,507 shares of the company's stock worth $484,000 after purchasing an additional 76 shares during the period. Sigma Planning Corp grew its stake in Constellation Brands by 4.0% during the fourth quarter. Sigma Planning Corp now owns 2,458 shares of the company's stock worth $325,000 after purchasing an additional 95 shares during the period. Shayne & Jacobs LLC grew its stake in Constellation Brands by 6.9% during the third quarter. Shayne & Jacobs LLC now owns 1,850 shares of the company's stock worth $249,000 after purchasing an additional 120 shares during the period. Finally, Raiffeisen Bank International AG grew its stake in Constellation Brands by 57.8% during the third quarter. Raiffeisen Bank International AG now owns 344 shares of the company's stock worth $46,000 after purchasing an additional 126 shares during the period. Institutional investors and hedge funds own 77.34% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. raised their price objective on Constellation Brands from $155.00 to $163.00 and gave the company a "neutral" rating in a research note on Wednesday, April 1st. Deutsche Bank Aktiengesellschaft raised their price objective on Constellation Brands from $154.00 to $155.00 and gave the company a "hold" rating in a research note on Friday, April 10th. Barclays raised their price objective on Constellation Brands from $151.00 to $170.00 and gave the company an "equal weight" rating in a research note on Friday, April 10th. Needham & Company LLC raised their price objective on Constellation Brands from $180.00 to $185.00 and gave the company a "buy" rating in a research note on Friday, April 10th. Finally, Piper Sandler raised their price objective on Constellation Brands from $146.00 to $160.00 and gave the company a "neutral" rating in a research note on Friday, April 10th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, seven have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Constellation Brands presently has an average rating of "Moderate Buy" and an average price target of $176.30.

Constellation Brands Trading Down 1.5%

Shares of Constellation Brands stock opened at $148.00 on Friday. The stock has a market capitalization of $25.49 billion, a PE ratio of 15.43, a price-to-earnings-growth ratio of 3.30 and a beta of 0.43. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.55 and a current ratio of 1.08. Constellation Brands Inc has a 52 week low of $126.45 and a 52 week high of $196.91. The stock has a 50 day moving average price of $154.20 and a two-hundred day moving average price of $147.99.

Constellation Brands (NYSE:STZ - Get Free Report) last announced its earnings results on Wednesday, April 8th. The company reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.71 by $0.19. The company had revenue of $1.92 billion for the quarter, compared to analysts' expectations of $1.84 billion. Constellation Brands had a return on equity of 26.18% and a net margin of 17.29%.Constellation Brands's quarterly revenue was down 11.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.63 earnings per share. As a group, equities analysts anticipate that Constellation Brands Inc will post 11.9 earnings per share for the current fiscal year.

Constellation Brands Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 14th. Investors of record on Wednesday, April 29th will be given a dividend of $1.03 per share. The ex-dividend date of this dividend is Wednesday, April 29th. This is a positive change from Constellation Brands's previous quarterly dividend of $1.02. This represents a $4.12 annualized dividend and a dividend yield of 2.8%. Constellation Brands's payout ratio is presently 42.96%.

Constellation Brands Profile

Constellation Brands, Inc is a leading producer and marketer of beer, wine and spirits, with operations spanning production, importation, marketing and distribution. The company's beverage portfolio includes a range of premium and mainstream wines and spirits alongside major imported beer brands; in the U.S. market Constellation is widely known for its role in bringing Mexican imports such as Corona and Modelo to American consumers. Constellation supplies retail, on‑premise and foodservice channels and supports its brands with national sales and marketing platforms and supply‑chain capabilities.

The company traces its roots to the Canandaigua Wine Company, founded by Marvin Sands in 1945, and evolved through organic growth and acquisition into a diversified beverage company.

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