Parsons Capital Management Inc. RI Has $3.90 Million Stock Holdings in Constellation Brands, Inc. (NYSE:STZ)

Parsons Capital Management Inc. RI boosted its holdings in Constellation Brands, Inc. (NYSE:STZ - Free Report) by 595.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 21,262 shares of the company's stock after acquiring an additional 18,205 shares during the period. Parsons Capital Management Inc. RI's holdings in Constellation Brands were worth $3,902,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Mainstream Capital Management LLC acquired a new position in shares of Constellation Brands in the fourth quarter valued at $25,000. SBI Securities Co. Ltd. bought a new stake in shares of Constellation Brands during the 4th quarter worth about $26,000. Compagnie Lombard Odier SCmA bought a new stake in shares of Constellation Brands during the 4th quarter worth about $27,000. Union Bancaire Privee UBP SA acquired a new position in Constellation Brands in the 4th quarter valued at about $28,000. Finally, Minot DeBlois Advisors LLC bought a new position in Constellation Brands in the 4th quarter valued at about $29,000. Institutional investors own 77.34% of the company's stock.

Constellation Brands Price Performance

Shares of STZ traded up $0.59 during trading hours on Tuesday, reaching $171.72. The stock had a trading volume of 1,515,070 shares, compared to its average volume of 1,792,868. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.46 and a current ratio of 1.10. Constellation Brands, Inc. has a 12 month low of $160.46 and a 12 month high of $265.70. The stock has a market capitalization of $30.57 billion, a PE ratio of 46.16, a PEG ratio of 1.52 and a beta of 1.75. The company's 50-day moving average is $183.67 and its two-hundred day moving average is $192.57.

Constellation Brands (NYSE:STZ - Get Free Report) last announced its quarterly earnings results on Wednesday, April 9th. The company reported $2.63 EPS for the quarter, beating analysts' consensus estimates of $2.28 by $0.35. The firm had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.14 billion. Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The business's revenue for the quarter was up 1.2% on a year-over-year basis. During the same period last year, the firm posted $2.26 earnings per share. Research analysts expect that Constellation Brands, Inc. will post 13.5 EPS for the current year.

Constellation Brands Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Tuesday, April 29th were paid a $1.02 dividend. 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. This represents a $4.08 annualized dividend and a dividend yield of 2.38%. Constellation Brands's payout ratio is currently -800.00%.

Insider Buying and Selling

In related news, EVP Samuel J. Glaetzer sold 3,150 shares of the company'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 value of $593,901.00. Following the sale, the executive vice president now directly owns 3,126 shares in the company, valued at $589,376.04. This represents a 50.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 12.19% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently weighed in on STZ. Piper Sandler lifted their price target on Constellation Brands from $165.00 to $170.00 and gave the stock a "neutral" rating in a report on Friday. Royal Bank of Canada lowered their price target on shares of Constellation Brands from $289.00 to $233.00 and set an "outperform" rating on the stock in a research report on Monday, April 14th. Needham & Company LLC reiterated a "buy" rating and issued a $215.00 price objective on shares of Constellation Brands in a research note on Thursday, April 10th. JPMorgan Chase & Co. decreased their target price on shares of Constellation Brands from $203.00 to $194.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Finally, DA Davidson lowered their target price on shares of Constellation Brands from $272.00 to $241.00 in a report on Friday, April 11th. Eleven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $220.00.

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.