Flagship Harbor Advisors LLC increased its position in Constellation Brands Inc (NYSE:STZ - Free Report) by 122.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,281 shares of the company's stock after buying an additional 2,355 shares during the quarter. Flagship Harbor Advisors LLC's holdings in Constellation Brands were worth $786,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its position 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 period. 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 valued at $2,155,946,000 after purchasing an additional 324,690 shares during the period. Berkshire Hathaway Inc acquired a new stake in Constellation Brands during the 4th quarter valued at approximately $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 valued at $705,844,000 after purchasing an additional 63,323 shares during the period. Finally, Capital Research Global Investors grew its position in shares of 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.
Insider Buying and Selling
In related news, EVP Samuel J. Glaetzer sold 3,150 shares of Constellation Brands stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $188.54, for a total value of $593,901.00. Following the completion of the sale, the executive vice president now owns 3,126 shares of the company's stock, valued at approximately $589,376.04. This trade represents a 50.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 12.45% of the stock is currently owned by insiders.
Analyst Ratings Changes
Several analysts have recently commented on STZ shares. Morgan Stanley reduced their price objective on shares of Constellation Brands from $202.00 to $195.00 and set an "equal weight" rating for the company in a research report on Friday, April 11th. Jefferies Financial Group reduced their price objective on shares of Constellation Brands from $201.00 to $196.00 in a research report on Friday, April 11th. BMO Capital Markets reduced their price objective on shares of Constellation Brands from $260.00 to $215.00 and set an "outperform" rating for the company in a research report on Friday, April 11th. Royal Bank Of Canada cut their target price on Constellation Brands from $289.00 to $233.00 and set an "outperform" rating on the stock in a report on Monday, April 14th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on Constellation Brands from $191.00 to $185.00 and set a "hold" rating on the stock in a report on Thursday, June 5th. Eleven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $215.87.
View Our Latest Stock Analysis on STZ
Constellation Brands Trading Up 0.7%
NYSE STZ opened at $164.38 on Wednesday. The stock has a market capitalization of $29.26 billion, a price-to-earnings ratio of -322.32, a PEG ratio of 9.01 and a beta of 0.70. Constellation Brands Inc has a one year low of $159.35 and a one year high of $265.69. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.92 and a quick ratio of 0.56. The business's fifty day moving average is $180.28 and its 200-day moving average is $187.27.
Constellation Brands (NYSE:STZ - Get Free Report) last released its earnings results on Wednesday, April 9th. The company reported $2.63 EPS for the quarter, topping analysts' consensus estimates of $2.28 by $0.35. The company had revenue of $2.13 billion for the quarter, compared to analysts' expectations of $2.14 billion. Constellation Brands had a positive return on equity of 29.56% and a negative net margin of 0.74%. The business's revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period in the previous year, the business posted $2.26 EPS. Equities research analysts predict that Constellation Brands Inc will post 13.5 EPS for the current year.
Constellation Brands Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Tuesday, April 29th were issued a $1.02 dividend. The ex-dividend date of this dividend was Tuesday, April 29th. This represents a $4.08 annualized dividend and a yield of 2.48%. This is a positive change from Constellation Brands's previous quarterly dividend of $1.01. Constellation Brands's dividend payout ratio (DPR) is -800.00%.
About Constellation Brands
(
Free Report)
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.
Further Reading
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