Gateway Investment Advisers LLC Purchases 79,075 Shares of Constellation Brands, Inc. (NYSE:STZ)

Gateway Investment Advisers LLC boosted its position in Constellation Brands, Inc. (NYSE:STZ - Free Report) by 3,466.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 81,356 shares of the company's stock after buying an additional 79,075 shares during the quarter. Gateway Investment Advisers LLC's holdings in Constellation Brands were worth $14,930,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of STZ. Mainstream Capital Management LLC acquired a new stake in shares of Constellation Brands in the fourth quarter valued at about $25,000. SBI Securities Co. Ltd. acquired a new position in shares of Constellation Brands during the fourth quarter worth approximately $26,000. Compagnie Lombard Odier SCmA acquired a new stake in Constellation Brands in the 4th quarter worth $27,000. Union Bancaire Privee UBP SA bought a new position in Constellation Brands during the fourth quarter valued at about $28,000. Finally, Minot DeBlois Advisors LLC bought a new position in Constellation Brands in the fourth quarter worth $29,000. Institutional investors own 77.34% of the company's stock.

Constellation Brands Stock Performance

NYSE:STZ opened at $171.88 on Friday. The company has a market capitalization of $30.60 billion, a price-to-earnings ratio of 46.20, a PEG ratio of 1.52 and a beta of 1.75. The business has a 50 day moving average of $183.90 and a 200 day moving average of $193.71. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.10 and a quick ratio of 0.46. Constellation Brands, Inc. has a 1-year low of $160.46 and a 1-year high of $265.70.

Constellation Brands (NYSE:STZ - Get Free Report) last announced its quarterly 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 business had revenue of $2.13 billion for 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%. The business's quarterly revenue was up 1.2% on a year-over-year basis. During the same period in the previous year, the firm earned $2.26 EPS. On average, sell-side analysts predict 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. Shareholders of record on Tuesday, April 29th were issued a $1.02 dividend. This is an increase from Constellation Brands's previous quarterly dividend of $1.01. The ex-dividend date of this dividend was Tuesday, April 29th. This represents a $4.08 dividend on an annualized basis and a yield of 2.37%. Constellation Brands's dividend payout ratio is -800.00%.

Insider Buying and Selling at Constellation Brands

In other news, EVP Samuel J. Glaetzer sold 3,150 shares of the stock in a transaction that occurred on Tuesday, May 13th. The shares were 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 $589,376.04. This represents a 50.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 12.19% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Roth Mkm cut their price target on shares of Constellation Brands from $284.00 to $256.00 and set a "buy" rating for the company in a report on Thursday, April 3rd. Truist Financial raised shares of Constellation Brands from a "hold" rating to a "buy" rating and set a $215.00 price target for the company in a research note on Wednesday, May 7th. Needham & Company LLC restated a "buy" rating and set a $215.00 target price on shares of Constellation Brands in a report on Thursday, April 10th. Wall Street Zen raised shares of Constellation Brands from a "sell" rating to a "hold" rating in a report on Tuesday, May 20th. Finally, Wells Fargo & Company reduced their target price on shares of Constellation Brands from $230.00 to $210.00 and set an "overweight" rating for the company in a research note on Wednesday, April 2nd. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $225.74.

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.

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