Gradient Investments LLC Increases Holdings in Constellation Brands, Inc. (NYSE:STZ)

Gradient Investments LLC raised its position in shares of Constellation Brands, Inc. (NYSE:STZ - Free Report) by 7.8% in the first quarter, according to its most recent filing with the SEC. The firm owned 60,375 shares of the company's stock after purchasing an additional 4,387 shares during the quarter. Gradient Investments LLC's holdings in Constellation Brands were worth $11,080,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Allworth Financial LP increased its position in Constellation Brands by 0.8% during the 4th quarter. Allworth Financial LP now owns 7,357 shares of the company's stock valued at $1,626,000 after purchasing an additional 59 shares during the period. Moody National Bank Trust Division boosted its holdings in shares of Constellation Brands by 0.9% during the 1st quarter. Moody National Bank Trust Division now owns 6,991 shares of the company's stock worth $1,283,000 after buying an additional 64 shares in the last quarter. Philip James Wealth Mangement LLC boosted its holdings in shares of Constellation Brands by 8.0% during the 4th quarter. Philip James Wealth Mangement LLC now owns 923 shares of the company's stock worth $204,000 after buying an additional 68 shares in the last quarter. Barden Capital Management Inc. boosted its holdings in shares of Constellation Brands by 1.3% during the 4th quarter. Barden Capital Management Inc. now owns 5,574 shares of the company's stock worth $1,232,000 after buying an additional 72 shares in the last quarter. Finally, Vista Investment Management boosted its holdings in shares of Constellation Brands by 0.7% during the 4th quarter. Vista Investment Management now owns 11,479 shares of the company's stock worth $2,537,000 after buying an additional 84 shares in the last quarter. Institutional investors and hedge funds own 77.34% of the company's stock.

Insider Activity

In other news, EVP Samuel J. Glaetzer sold 3,150 shares of the firm'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 completion of the sale, the executive vice president now directly owns 3,126 shares of the company's stock, valued at $589,376.04. This trade represents a 50.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 12.19% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on STZ shares. BMO Capital Markets cut their price target on Constellation Brands from $260.00 to $215.00 and set an "outperform" rating on the stock in a report on Friday, April 11th. Barclays increased their price target on Constellation Brands from $203.00 to $207.00 and gave the stock an "overweight" rating in a report on Monday, April 14th. Needham & Company LLC restated a "buy" rating and set a $215.00 price target on shares of Constellation Brands in a report on Thursday, April 10th. Citigroup cut their price target on Constellation Brands from $200.00 to $190.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Finally, Truist Financial upgraded Constellation Brands from a "hold" rating to a "buy" rating and set a $215.00 target price on the stock in a report on Wednesday, May 7th. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat.com, Constellation Brands has an average rating of "Moderate Buy" and a consensus price target of $225.74.

Constellation Brands Stock Up 0.2%

NYSE STZ traded up $0.31 on Wednesday, reaching $176.98. The company had a trading volume of 1,226,800 shares, compared to its average volume of 1,778,483. The stock has a market capitalization of $31.51 billion, a P/E ratio of 47.58, a P/E/G ratio of 1.52 and a beta of 1.75. The company's fifty day moving average is $184.56 and its 200 day moving average is $194.77. Constellation Brands, Inc. has a 52-week low of $160.46 and a 52-week high of $265.70. The company has a quick ratio of 0.46, a current ratio of 1.10 and a debt-to-equity ratio of 1.26.

Constellation Brands (NYSE:STZ - Get Free Report) last released its quarterly earnings results on Wednesday, April 9th. The company reported $2.63 EPS for the quarter, beating analysts' consensus estimates of $2.28 by $0.35. The business had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.14 billion. Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. Constellation Brands's quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.26 EPS. Sell-side analysts anticipate that Constellation Brands, Inc. will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Tuesday, April 29th were given a $1.02 dividend. This is a positive change from Constellation Brands's previous quarterly dividend of $1.01. This represents a $4.08 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date of this dividend was Tuesday, April 29th. Constellation Brands's dividend payout ratio is presently -800.00%.

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.