Dock Street Asset Management Inc. Acquires New Holdings in Constellation Brands Inc (NYSE:STZ)

Dock Street Asset Management Inc. bought a new position in Constellation Brands Inc (NYSE:STZ - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 4,760 shares of the company's stock, valued at approximately $874,000.

Several other hedge funds also recently made changes to their positions in STZ. Minot DeBlois Advisors LLC purchased a new stake in Constellation Brands during the 4th quarter valued at $29,000. Optiver Holding B.V. bought a new position in shares of Constellation Brands during the fourth quarter valued at about $31,000. Laurel Wealth Advisors LLC purchased a new stake in shares of Constellation Brands during the first quarter worth about $32,000. Rakuten Securities Inc. boosted its holdings in shares of Constellation Brands by 805.0% during the first quarter. Rakuten Securities Inc. now owns 181 shares of the company's stock worth $33,000 after purchasing an additional 161 shares during the period. Finally, Fourth Dimension Wealth LLC bought a new stake in shares of Constellation Brands in the fourth quarter worth about $44,000. 77.34% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Constellation Brands

In other news, EVP Samuel J. Glaetzer sold 3,150 shares of the company's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $188.54, for a total transaction of $593,901.00. Following the transaction, the executive vice president directly owned 3,126 shares of the company's stock, valued at $589,376.04. This 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. 12.45% of the stock is owned by corporate insiders.

Constellation Brands Stock Up 0.1%

NYSE:STZ traded up $0.15 on Friday, reaching $172.27. 1,370,929 shares of the stock traded hands, compared to its average volume of 1,926,059. The company has a current ratio of 1.07, a quick ratio of 0.68 and a debt-to-equity ratio of 1.30. The company has a market capitalization of $30.67 billion, a price-to-earnings ratio of -72.08, a PEG ratio of 10.42 and a beta of 0.67. Constellation Brands Inc has a 12 month low of $159.35 and a 12 month high of $261.06. The company's fifty day simple moving average is $175.56 and its 200 day simple moving average is $181.40.

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

Constellation Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Wednesday, July 30th will be issued a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date is Wednesday, July 30th. Constellation Brands's payout ratio is -170.71%.

Wall Street Analyst Weigh In

STZ has been the subject of a number of recent analyst reports. Bernstein Bank lowered their price target on Constellation Brands from $260.00 to $225.00 and set an "outperform" rating for the company in a research report on Thursday, April 10th. Truist Financial upgraded Constellation Brands from a "hold" rating to a "buy" rating and upped their target price for the company from $190.00 to $215.00 in a report on Wednesday, May 7th. Barclays set a $202.00 price target on Constellation Brands and gave the stock an "overweight" rating in a research note on Thursday, June 26th. Cowen reissued a "hold" rating on shares of Constellation Brands in a research report on Monday, July 7th. Finally, The Goldman Sachs Group set a $225.00 target price on shares of Constellation Brands and gave the stock a "buy" rating in a research report on Friday, June 27th. Eleven research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $213.74.

Constellation Brands 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.