Constellation Brands Inc (NYSE:STZ) Shares Purchased by IFP Advisors Inc

IFP Advisors Inc grew its holdings in shares of Constellation Brands Inc (NYSE:STZ - Free Report) by 174.1% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,761 shares of the company's stock after buying an additional 3,659 shares during the quarter. IFP Advisors Inc's holdings in Constellation Brands were worth $1,057,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Berkshire Hathaway Inc purchased a new stake in shares of Constellation Brands in the fourth quarter valued at approximately $1,242,976,000. Norges Bank purchased a new stake in shares of Constellation Brands in the fourth quarter valued at approximately $445,883,000. Vanguard Group Inc. boosted its holdings in shares of Constellation Brands by 13.3% in the fourth 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. D1 Capital Partners L.P. boosted its holdings in shares of Constellation Brands by 186.6% in the fourth quarter. D1 Capital Partners L.P. now owns 1,527,689 shares of the company's stock valued at $337,619,000 after purchasing an additional 994,639 shares during the period. Finally, Grantham Mayo Van Otterloo & Co. LLC boosted its holdings in shares of Constellation Brands by 42.9% in the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 2,454,258 shares of the company's stock valued at $542,391,000 after purchasing an additional 736,780 shares during the period. Institutional investors own 77.34% of the company's stock.

Insider Activity

In other Constellation Brands news, EVP James O. Bourdeau sold 821 shares of the stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $169.00, for a total transaction of $138,749.00. Following the sale, the executive vice president directly owned 9,438 shares of the company's stock, valued at approximately $1,595,022. This trade represents a 8.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Samuel J. Glaetzer sold 3,150 shares of the firm's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $188.54, for a total value of $593,901.00. Following the sale, the executive vice president owned 3,126 shares in the company, valued at $589,376.04. This trade represents a 50.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. 12.45% of the stock is currently owned by company insiders.

Constellation Brands Stock Performance

STZ stock traded down $0.03 during midday trading on Friday, reaching $175.61. The stock had a trading volume of 1,014,120 shares, compared to its average volume of 2,480,315. The stock has a market cap of $30.96 billion, a PE ratio of -73.48, a P/E/G ratio of 10.62 and a beta of 1.75. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.68 and a current ratio of 1.07. The firm has a fifty day simple moving average of $171.87 and a two-hundred day simple moving average of $177.92. Constellation Brands Inc has a 52-week low of $159.35 and a 52-week high of $261.06.

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). The company had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.57 billion. Constellation Brands had a positive return on equity of 31.41% and a negative net margin of 4.11%. Constellation Brands's revenue for the quarter was down 5.5% on a year-over-year basis. During the same period in the prior year, the business posted $3.57 earnings per share. As a group, equities research analysts anticipate that Constellation Brands Inc will post 13.5 EPS for the current year.

Constellation Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Wednesday, July 30th will be given a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 2.32%. The ex-dividend date of this dividend is Wednesday, July 30th. Constellation Brands's dividend payout ratio is currently -170.71%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. CJS Securities lowered their target price on Constellation Brands from $196.00 to $194.00 in a report on Monday, May 19th. Roth Mkm lowered their target price on Constellation Brands from $284.00 to $256.00 and set a "buy" rating for the company in a report on Thursday, April 3rd. Barclays set a $202.00 target price on Constellation Brands and gave the stock an "overweight" rating in a report on Thursday, June 26th. Truist Financial upgraded Constellation Brands from a "hold" rating to a "buy" rating and upped their target price for the stock from $190.00 to $215.00 in a report on Wednesday, May 7th. Finally, Needham & Company LLC increased their price objective on Constellation Brands from $195.00 to $200.00 and gave the company a "buy" rating in a report on Thursday, July 3rd. Eleven research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $213.74.

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.