Haven Private LLC Buys Shares of 1,884 Constellation Brands Inc (NYSE:STZ)

Key Points

• Haven Private LLC has acquired a stake in Constellation Brands Inc, purchasing 1,884 shares valued at approximately $346,000 in the first quarter.
• A significant number of hedge funds have also made adjustments to their positions in Constellation Brands, with TIAA Trust National Association increasing its stake by 3,509.4%.
• Constellation Brands recently declared a quarterly dividend of $1.02 per share, with an annual yield of 2.5%, although its payout ratio is notably negative at -170.71%.

Haven Private LLC bought a new stake in Constellation Brands Inc (NYSE:STZ - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,884 shares of the company's stock, valued at approximately $346,000.

A number of other hedge funds also recently added to or reduced their stakes in STZ. Liberty Wealth Management LLC purchased a new position in shares of Constellation Brands during the 1st quarter worth approximately $7,205,000. Banco Santander S.A. purchased a new position in shares of Constellation Brands during the 1st quarter worth approximately $247,000. TIAA Trust National Association increased its stake in shares of Constellation Brands by 3,509.4% during the 1st quarter. TIAA Trust National Association now owns 92,943 shares of the company's stock worth $17,057,000 after purchasing an additional 90,368 shares in the last quarter. Jefferies Financial Group Inc. increased its stake in shares of Constellation Brands by 43.3% during the 1st quarter. Jefferies Financial Group Inc. now owns 6,122 shares of the company's stock worth $1,123,000 after purchasing an additional 1,851 shares in the last quarter. Finally, Sound View Wealth Advisors Group LLC increased its stake in shares of Constellation Brands by 29.9% during the 1st quarter. Sound View Wealth Advisors Group LLC now owns 1,368 shares of the company's stock worth $251,000 after purchasing an additional 315 shares in the last quarter. 77.34% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Constellation Brands

In related news, EVP James O. Bourdeau sold 821 shares of Constellation Brands stock in a transaction on Monday, July 21st. The shares were sold at an average price of $169.00, for a total transaction of $138,749.00. Following the sale, the executive vice president owned 9,438 shares of the company's stock, valued at $1,595,022. The trade was a 8.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Samuel J. Glaetzer sold 3,150 shares of Constellation Brands 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 sale, the executive vice president directly owned 3,126 shares in the company, valued at $589,376.04. This trade represents a 50.19% decrease in their position. The disclosure for this sale can be found here. Insiders own 12.45% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on STZ shares. Wells Fargo & Company dropped their price objective on shares of Constellation Brands from $210.00 to $196.00 and set an "overweight" rating for the company in a research note on Wednesday, June 25th. DA Davidson decreased their target price on shares of Constellation Brands from $272.00 to $241.00 in a research report on Friday, April 11th. JPMorgan Chase & Co. raised their target price on shares of Constellation Brands from $170.00 to $182.00 and gave the stock a "neutral" rating in a research report on Thursday, July 3rd. Barclays set a $202.00 target price on shares of Constellation Brands and gave the stock an "overweight" rating in a research report on Thursday, June 26th. Finally, Citigroup raised their target price on shares of Constellation Brands from $170.00 to $174.00 and gave the stock a "neutral" rating in a research report on Thursday, July 3rd. Eleven research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $213.74.

Constellation Brands Stock Performance

Shares of STZ stock opened at $166.25 on Friday. The company's fifty day simple moving average is $170.18 and its 200-day simple moving average is $177.25. Constellation Brands Inc has a 52 week low of $159.35 and a 52 week high of $261.06. 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 cap of $29.31 billion, a PE ratio of -69.56, a P/E/G ratio of 10.06 and a beta of 0.67.

Constellation Brands (NYSE:STZ - Get Free Report) last issued its earnings results on Tuesday, July 1st. The company reported $3.22 EPS for the quarter, missing analysts' consensus estimates 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 business had revenue of $2.52 billion during the quarter, compared to analysts' expectations of $2.57 billion. During the same period in the prior year, the business posted $3.57 EPS. The business's revenue was down 5.5% on a year-over-year basis. As a group, equities research analysts anticipate that Constellation Brands Inc will post 13.5 EPS for the current year.

Constellation Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Wednesday, July 30th will be paid a dividend of $1.02 per share. The ex-dividend date of this dividend is Wednesday, July 30th. This represents a $4.08 annualized dividend and a yield of 2.5%. Constellation Brands's payout ratio is -170.71%.

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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