MidWestOne Financial Group Inc. Raises Position in Constellation Brands, Inc. (NYSE:STZ)

MidWestOne Financial Group Inc. increased its holdings in Constellation Brands, Inc. (NYSE:STZ - Free Report) by 35.1% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,555 shares of the company's stock after buying an additional 3,524 shares during the period. MidWestOne Financial Group Inc.'s holdings in Constellation Brands were worth $2,996,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Merit Financial Group LLC increased its stake in Constellation Brands by 132.9% in the fourth quarter. Merit Financial Group LLC now owns 2,271 shares of the company's stock valued at $502,000 after acquiring an additional 1,296 shares during the last quarter. Arkadios Wealth Advisors increased its stake in Constellation Brands by 7.1% in the fourth quarter. Arkadios Wealth Advisors now owns 2,530 shares of the company's stock valued at $559,000 after acquiring an additional 167 shares during the last quarter. HB Wealth Management LLC increased its stake in Constellation Brands by 24.3% in the fourth quarter. HB Wealth Management LLC now owns 5,262 shares of the company's stock valued at $1,163,000 after acquiring an additional 1,028 shares during the last quarter. Ameritas Advisory Services LLC grew its stake in shares of Constellation Brands by 2.3% during the fourth quarter. Ameritas Advisory Services LLC now owns 5,928 shares of the company's stock valued at $1,310,000 after buying an additional 134 shares during the last quarter. Finally, Ballentine Partners LLC grew its stake in shares of Constellation Brands by 12.8% during the fourth quarter. Ballentine Partners LLC now owns 2,891 shares of the company's stock valued at $639,000 after buying an additional 327 shares during the last quarter. Hedge funds and other institutional investors own 77.34% of the company's stock.

Constellation Brands Stock Performance

Constellation Brands stock opened at $189.36 on Wednesday. The firm has a market capitalization of $33.71 billion, a P/E ratio of 50.90, a price-to-earnings-growth ratio of 1.52 and a beta of 1.75. The company's 50-day moving average is $184.44 and its 200 day moving average is $198.63. Constellation Brands, Inc. has a 1-year low of $160.46 and a 1-year high of $265.70. 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 (NYSE:STZ - Get Free Report) last issued its 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 analyst estimates of $2.14 billion. Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. The company's quarterly revenue was up 1.2% compared to the same quarter last year. During the same period last year, the company posted $2.26 earnings per share. Research analysts forecast that Constellation Brands, Inc. will post 13.5 EPS for the current year.

Constellation Brands Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Tuesday, April 29th were given a dividend of $1.02 per share. The ex-dividend date was Tuesday, April 29th. 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 dividend yield of 2.15%. Constellation Brands's dividend payout ratio (DPR) is -800.00%.

Insider Transactions 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 transaction, the executive vice president now directly owns 3,126 shares in the company, valued at approximately $589,376.04. This trade represents a 50.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 12.19% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Citigroup reduced their price objective on Constellation Brands from $200.00 to $190.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Barclays raised their price objective on Constellation Brands from $203.00 to $207.00 and gave the company an "overweight" rating in a research note on Monday, April 14th. Morgan Stanley reduced their price objective on 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. Wells Fargo & Company cut their target price on Constellation Brands from $230.00 to $210.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 2nd. Finally, Piper Sandler cut Constellation Brands from an "overweight" rating to a "neutral" rating and cut their target price for the stock from $245.00 to $200.00 in a research note on Monday, February 3rd. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target 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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