Premier Path Wealth Partners LLC grew its holdings in Constellation Brands Inc (NYSE:STZ - Free Report) by 31.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,390 shares of the company's stock after purchasing an additional 1,748 shares during the period. Premier Path Wealth Partners LLC's holdings in Constellation Brands were worth $1,356,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also modified their holdings of the company. Allworth Financial LP raised its position in Constellation Brands by 0.8% in the fourth quarter. Allworth Financial LP now owns 7,357 shares of the company's stock valued at $1,626,000 after purchasing an additional 59 shares during the period. Piscataqua Savings Bank grew its stake in shares of Constellation Brands by 1.7% in the first quarter. Piscataqua Savings Bank now owns 3,720 shares of the company's stock valued at $683,000 after buying an additional 62 shares in the last quarter. Moody National Bank Trust Division raised its holdings in shares of Constellation Brands by 0.9% in the 1st quarter. Moody National Bank Trust Division now owns 6,991 shares of the company's stock valued at $1,283,000 after buying an additional 64 shares during the period. Barden Capital Management Inc. lifted its stake in Constellation Brands by 1.3% during the 4th quarter. Barden Capital Management Inc. now owns 5,574 shares of the company's stock worth $1,232,000 after acquiring an additional 72 shares in the last quarter. Finally, Vista Investment Management lifted its stake in Constellation Brands by 0.7% during the 4th quarter. Vista Investment Management now owns 11,479 shares of the company's stock worth $2,537,000 after acquiring an additional 84 shares in the last quarter. 77.34% of the stock is currently owned by hedge funds and other institutional investors.
Constellation Brands Stock Down 0.4%
STZ stock traded down $0.57 during midday trading on Thursday, reaching $159.99. 2,250,392 shares of the company were exchanged, compared to its average volume of 1,831,986. The stock's 50-day simple moving average is $182.12 and its 200 day simple moving average is $189.71. Constellation Brands Inc has a 1-year low of $159.44 and a 1-year high of $265.70. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.56 and a current ratio of 0.92. The company has a market cap of $28.48 billion, a price-to-earnings ratio of -313.71, a price-to-earnings-growth ratio of 8.70 and a beta of 0.70.
Constellation Brands (NYSE:STZ - Get Free Report) last announced its quarterly earnings results on Wednesday, April 9th. The company reported $2.63 earnings per share for the quarter, beating analysts' consensus estimates of $2.28 by $0.35. Constellation Brands had a negative net margin of 0.74% and a positive return on equity of 29.56%. The firm had revenue of $2.13 billion during the quarter, compared to analysts' expectations of $2.14 billion. Constellation Brands's quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the previous year, the company earned $2.26 earnings per share. On average, equities analysts forecast 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. 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 yield of 2.55%. The ex-dividend date of this dividend was Tuesday, April 29th. This is an increase from Constellation Brands's previous quarterly dividend of $1.01. Constellation Brands's dividend payout ratio (DPR) is currently -800.00%.
Analysts Set New Price Targets
STZ has been the topic of a number of recent research reports. Roth Mkm cut their price target on shares of Constellation Brands from $284.00 to $256.00 and set a "buy" rating on the stock in a research note on Thursday, April 3rd. Wells Fargo & Company dropped their price objective on shares of Constellation Brands from $230.00 to $210.00 and set an "overweight" rating for the company in a report on Wednesday, April 2nd. DA Davidson cut their target price on shares of Constellation Brands from $272.00 to $241.00 in a research note on Friday, April 11th. Morgan Stanley decreased their price target on shares of Constellation Brands from $202.00 to $195.00 and set an "equal weight" rating for the company in a research report on Friday, April 11th. Finally, BMO Capital Markets dropped their price target on shares of Constellation Brands from $260.00 to $215.00 and set an "outperform" rating for the company in a research note on Friday, April 11th. Eleven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, Constellation Brands has a consensus rating of "Moderate Buy" and a consensus target price of $215.87.
Read Our Latest Research Report on Constellation Brands
Insiders Place Their Bets
In other news, EVP Samuel J. Glaetzer sold 3,150 shares of Constellation Brands stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $188.54, for a total value of $593,901.00. Following the transaction, 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 12.45% of the stock is currently owned by corporate insiders.
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.
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