Oppenheimer & Co. Inc. lifted its stake in Constellation Brands Inc (NYSE:STZ - Free Report) by 39.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,953 shares of the company's stock after purchasing an additional 5,907 shares during the period. Oppenheimer & Co. Inc.'s holdings in Constellation Brands were worth $3,845,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of STZ. Berkshire Hathaway Inc purchased a new position in shares of Constellation Brands in the 4th quarter valued at about $1,242,976,000. Norges Bank purchased a new position in Constellation Brands in the fourth quarter worth approximately $445,883,000. Vanguard Group Inc. grew its holdings in Constellation Brands by 13.3% during the 4th quarter. Vanguard Group Inc. now owns 15,534,787 shares of the company's stock worth $3,433,188,000 after acquiring an additional 1,821,969 shares in the last quarter. D1 Capital Partners L.P. raised its holdings in shares of Constellation Brands by 186.6% in the 4th 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 in the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC lifted its position in shares of Constellation Brands by 42.9% during the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 2,454,258 shares of the company's stock worth $542,391,000 after purchasing an additional 736,780 shares during the last quarter. 77.34% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling
In other Constellation Brands news, EVP Samuel J. Glaetzer sold 3,150 shares of the business's stock in a transaction that occurred 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 transaction, the executive vice president now owns 3,126 shares in the company, valued at approximately $589,376.04. The trade was a 50.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 12.45% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
Several equities analysts recently commented on STZ shares. Piper Sandler increased their target price on Constellation Brands from $165.00 to $170.00 and gave the company a "neutral" rating in a report on Friday, June 6th. Wall Street Zen upgraded Constellation Brands from a "sell" rating to a "hold" rating in a report on Tuesday, May 20th. Barclays boosted their target price on Constellation Brands from $203.00 to $207.00 and gave the stock an "overweight" rating in a research note on Monday, April 14th. DA Davidson lowered their price target on Constellation Brands from $272.00 to $241.00 in a report on Friday, April 11th. Finally, Wells Fargo & Company cut their price objective on shares of Constellation Brands from $210.00 to $196.00 and set an "overweight" rating on the stock in a report on Wednesday. Eleven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $213.17.
Check Out Our Latest Research Report on STZ
Constellation Brands Stock Performance
NYSE STZ opened at $161.56 on Thursday. The firm has a market cap of $28.76 billion, a P/E ratio of -316.78, a P/E/G ratio of 9.07 and a beta of 0.70. Constellation Brands Inc has a 52-week low of $159.35 and a 52-week high of $264.45. The business's 50-day moving average price is $179.85 and its 200 day moving average price is $187.09. The company has a quick ratio of 0.56, a current ratio of 0.92 and a debt-to-equity ratio of 1.30.
Constellation Brands (NYSE:STZ - Get Free Report) last released its earnings results on Wednesday, April 9th. The company reported $2.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.28 by $0.35. Constellation Brands had a positive return on equity of 29.56% and a negative net margin of 0.74%. The business had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.14 billion. During the same quarter in the previous year, the company posted $2.26 earnings per share. The company's revenue for the quarter was up 1.2% compared to the same quarter last year. On average, 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 declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Tuesday, April 29th were paid a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.53%. This is a positive change from Constellation Brands's previous quarterly dividend of $1.01. The ex-dividend date of this dividend was Tuesday, April 29th. Constellation Brands's payout ratio is -800.00%.
Constellation Brands Company Profile
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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.
See Also
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