Perigon Wealth Management LLC Has $810,000 Holdings in Constellation Brands Inc (NYSE:STZ)

Perigon Wealth Management LLC cut its position in Constellation Brands Inc (NYSE:STZ - Free Report) by 38.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,412 shares of the company's stock after selling 2,773 shares during the quarter. Perigon Wealth Management LLC's holdings in Constellation Brands were worth $810,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of STZ. Brighton Jones LLC grew its position in Constellation Brands by 23.0% in the 4th quarter. Brighton Jones LLC now owns 1,001 shares of the company's stock worth $221,000 after purchasing an additional 187 shares during the last quarter. Bank Pictet & Cie Europe AG grew its position in Constellation Brands by 39.7% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 6,096 shares of the company's stock worth $1,347,000 after purchasing an additional 1,733 shares during the last quarter. Whipplewood Advisors LLC acquired a new stake in Constellation Brands in the 4th quarter worth $36,000. New York Life Investment Management LLC grew its position in Constellation Brands by 0.4% in the 4th quarter. New York Life Investment Management LLC now owns 20,981 shares of the company's stock worth $4,637,000 after purchasing an additional 88 shares during the last quarter. Finally, Oppenheimer & Co. Inc. grew its position in Constellation Brands by 17.5% in the 4th quarter. Oppenheimer & Co. Inc. now owns 15,046 shares of the company's stock worth $3,325,000 after purchasing an additional 2,244 shares during the last quarter. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Constellation Brands Trading Up 0.0%

Shares of NYSE STZ opened at $161.34 on Friday. Constellation Brands Inc has a 1-year low of $159.35 and a 1-year high of $264.45. The company has a market cap of $28.72 billion, a PE ratio of -316.35, a P/E/G ratio of 8.92 and a beta of 0.70. The company has a current ratio of 0.92, a quick ratio of 0.56 and a debt-to-equity ratio of 1.30. The company has a 50-day moving average of $178.84 and a two-hundred day moving average of $185.58.

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

Constellation Brands Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors 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 an increase 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%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on STZ shares. CJS Securities decreased their price target on shares of Constellation Brands from $196.00 to $194.00 in a research report on Monday, May 19th. Truist Financial upgraded shares of Constellation Brands from a "hold" rating to a "buy" rating and raised their price target for the stock from $190.00 to $215.00 in a research report on Wednesday, May 7th. 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 report on Tuesday, May 20th. JPMorgan Chase & Co. decreased their target price on shares of Constellation Brands from $194.00 to $170.00 and set a "neutral" rating on the stock in a research report on Thursday. Finally, UBS Group set a $195.00 target price on shares of Constellation Brands and gave the company a "buy" rating in a research report on Wednesday. Eleven 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 price target of $211.91.

Insider Buying and Selling

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 of the company's stock, valued at $589,376.04. The trade was a 50.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 12.45% of the stock is currently owned by insiders.

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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