Oppenheimer Asset Management Inc. Boosts Holdings in Constellation Brands Inc (NYSE:STZ)

Oppenheimer Asset Management Inc. lifted its stake in shares of Constellation Brands Inc (NYSE:STZ - Free Report) by 28.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,360 shares of the company's stock after buying an additional 1,651 shares during the quarter. Oppenheimer Asset Management Inc.'s holdings in Constellation Brands were worth $1,351,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Mainstream Capital Management LLC purchased a new position in shares of Constellation Brands during the 4th quarter worth approximately $25,000. SBI Securities Co. Ltd. purchased a new position in shares of Constellation Brands in the 4th quarter valued at approximately $26,000. Minot DeBlois Advisors LLC bought a new stake in shares of Constellation Brands during the fourth quarter valued at approximately $29,000. Optiver Holding B.V. purchased a new stake in Constellation Brands in the fourth quarter worth $31,000. Finally, Laurel Wealth Advisors LLC purchased a new stake in Constellation Brands in the first quarter worth $32,000. Hedge funds and other institutional investors own 77.34% of the company's stock.

Constellation Brands Stock Performance

Shares of STZ stock opened at $161.34 on Friday. The company has a quick ratio of 0.56, a current ratio of 0.92 and a debt-to-equity ratio of 1.30. The company has a 50 day moving average price of $178.84 and a 200-day moving average price of $185.96. Constellation Brands Inc has a 52 week low of $159.35 and a 52 week high of $264.45. The firm has a market capitalization of $28.72 billion, a PE ratio of -316.35, a P/E/G ratio of 8.92 and a beta of 0.70.

Constellation Brands (NYSE:STZ - Get Free Report) last issued its earnings results on Wednesday, April 9th. The company reported $2.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.28 by $0.35. The company had revenue of $2.13 billion for the quarter, compared to analysts' expectations of $2.14 billion. Constellation Brands had a negative net margin of 0.74% and a positive return on equity of 29.56%. The firm's quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter last year, the company posted $2.26 earnings per share. As a group, equities research analysts expect that Constellation Brands Inc will post 13.5 earnings per share for the current year.

Constellation Brands Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Tuesday, April 29th were given a $1.02 dividend. This represents a $4.08 annualized dividend and a yield of 2.53%. This is a boost from Constellation Brands's previous quarterly dividend of $1.01. The ex-dividend date of this dividend was Tuesday, April 29th. Constellation Brands's dividend payout ratio (DPR) is presently -800.00%.

Analysts Set New Price Targets

A number of brokerages have recently commented on STZ. Roth Capital dropped their target price on shares of Constellation Brands from $256.00 to $239.00 and set a "buy" rating on the stock in a report on Tuesday, May 20th. The Goldman Sachs Group set a $225.00 price target on shares of Constellation Brands and gave the company a "buy" rating in a research report on Friday. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Constellation Brands from $191.00 to $185.00 and set a "hold" rating on the stock in a research note on Thursday, June 5th. UBS Group set a $195.00 target price on shares of Constellation Brands and gave the company a "buy" rating in a research note on Wednesday. Finally, Truist Financial upgraded shares of Constellation Brands from a "hold" rating to a "buy" rating and lifted their target price for the company from $190.00 to $215.00 in a report on Wednesday, May 7th. Eleven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, Constellation Brands currently has an average rating of "Moderate Buy" and an average price target of $211.91.

Insiders Place Their Bets

In related news, EVP Samuel J. Glaetzer sold 3,150 shares of the business's 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 completion of the sale, the executive vice president now directly owns 3,126 shares in the company, valued at approximately $589,376.04. The trade was a 50.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 12.45% of the company's stock.

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.

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