Klingenstein Fields & Co. LP grew its position in Constellation Brands Inc (NYSE:STZ - Free Report) by 1.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 116,401 shares of the company's stock after acquiring an additional 1,593 shares during the period. Klingenstein Fields & Co. LP owned about 0.06% of Constellation Brands worth $21,362,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of STZ. Vanguard Group Inc. raised its stake in Constellation Brands by 13.3% in the 4th quarter. Vanguard Group Inc. now owns 15,534,787 shares of the company's stock worth $3,433,188,000 after purchasing an additional 1,821,969 shares in the last quarter. Capital World Investors raised its position in shares of Constellation Brands by 3.4% in the 4th quarter. Capital World Investors now owns 9,755,602 shares of the company's stock valued at $2,155,946,000 after buying an additional 324,690 shares in the last quarter. Berkshire Hathaway Inc acquired a new position in Constellation Brands during the 4th quarter worth 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 worth $705,844,000 after purchasing an additional 63,323 shares in the last quarter. Finally, Capital Research Global Investors increased its position in 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 purchasing an additional 18,557 shares in the last quarter. Institutional investors own 77.34% of the company's stock.
Insider Activity at Constellation Brands
In other news, EVP Samuel J. Glaetzer sold 3,150 shares of the firm's 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 transaction, 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 12.45% of the stock is currently owned by company insiders.
Constellation Brands Price Performance
STZ traded down $0.74 during trading on Thursday, reaching $173.13. 1,154,668 shares of the stock were exchanged, compared to its average volume of 1,911,971. The business's 50 day moving average price is $177.66 and its two-hundred day moving average price is $184.47. 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 company has a market capitalization of $30.82 billion, a price-to-earnings ratio of -72.42, a P/E/G ratio of 9.20 and a beta of 0.67. Constellation Brands Inc has a 1 year low of $159.35 and a 1 year high of $264.45.
Constellation Brands (NYSE:STZ - Get Free Report) last released its quarterly earnings results on Tuesday, July 1st. The company reported $3.22 earnings per share for the quarter, missing analysts' consensus estimates of $3.45 by ($0.23). Constellation Brands had a positive return on equity of 31.15% and a negative net margin of 4.11%. The company had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.57 billion. During the same period last year, the firm earned $3.57 earnings per share. The business's revenue was down 5.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Constellation Brands Inc will post 13.5 earnings per share for the current year.
Constellation Brands Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Tuesday, April 29th were issued a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.36%. This is an increase from Constellation Brands's previous quarterly dividend of $1.01. The ex-dividend date was Tuesday, April 29th. Constellation Brands's dividend payout ratio (DPR) is -800.00%.
Analyst Upgrades and Downgrades
A number of equities research 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 on the stock in a research note on Friday, April 11th. Truist Financial upgraded shares of Constellation Brands from a "hold" rating to a "buy" rating and increased their target price for the company from $190.00 to $215.00 in a report on Wednesday, May 7th. Barclays set a $202.00 price target on shares of Constellation Brands and gave the company an "overweight" rating in a research report on Thursday, June 26th. BMO Capital Markets cut 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. Finally, Roth Capital decreased their price target on shares of Constellation Brands from $256.00 to $239.00 and set a "buy" rating on the stock in a research note on Tuesday, May 20th. Eleven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat.com, Constellation Brands currently has an average rating of "Moderate Buy" and a consensus price target of $213.35.
Read Our Latest Stock Report on Constellation Brands
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.
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