ProShare Advisors LLC Increases Stock Holdings in Constellation Brands, Inc. (NYSE:STZ)

ProShare Advisors LLC grew its stake in shares of Constellation Brands, Inc. (NYSE:STZ - Free Report) by 10.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 23,604 shares of the company's stock after purchasing an additional 2,199 shares during the quarter. ProShare Advisors LLC's holdings in Constellation Brands were worth $5,216,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in STZ. Mainstream Capital Management LLC bought a new position in Constellation Brands in the fourth quarter worth $25,000. SBI Securities Co. Ltd. bought a new position in Constellation Brands in the fourth quarter valued at about $26,000. Compagnie Lombard Odier SCmA purchased a new position in shares of Constellation Brands during the 4th quarter valued at about $27,000. Union Bancaire Privee UBP SA bought a new stake in Constellation Brands during the 4th quarter valued at approximately $28,000. Finally, Minot DeBlois Advisors LLC bought a new stake in Constellation Brands during the 4th quarter valued at approximately $29,000. Institutional investors own 77.34% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on STZ shares. Roth Mkm reduced their price objective on 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 decreased their price objective on Constellation Brands from $230.00 to $210.00 and set an "overweight" rating for the company in a research note on Wednesday, April 2nd. Citigroup reduced their target price on Constellation Brands from $200.00 to $190.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Truist Financial raised Constellation Brands from a "hold" rating to a "buy" rating and set a $215.00 target price on the stock in a report on Wednesday, May 7th. Finally, The Goldman Sachs Group lowered their price target on Constellation Brands from $260.00 to $225.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat, Constellation Brands presently has a consensus rating of "Moderate Buy" and a consensus target price of $225.74.

Constellation Brands Stock Down 1.9%

STZ stock traded down $3.53 during mid-day trading on Wednesday, reaching $185.84. The company had a trading volume of 1,261,861 shares, compared to its average volume of 1,754,726. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.46 and a current ratio of 1.10. The company has a market capitalization of $33.08 billion, a price-to-earnings ratio of 49.96, a price-to-earnings-growth ratio of 1.52 and a beta of 1.75. The firm has a fifty day simple moving average of $184.53 and a 200 day simple moving average of $198.54. Constellation Brands, Inc. has a fifty-two week low of $160.46 and a fifty-two week high of $265.70.

Constellation Brands (NYSE:STZ - Get Free Report) last issued its earnings results on Wednesday, April 9th. The company reported $2.63 earnings per share for the quarter, topping the consensus estimate of $2.28 by $0.35. Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The business had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.14 billion. During the same quarter last year, the company earned $2.26 EPS. The business's quarterly revenue was up 1.2% on a year-over-year basis. Analysts forecast that Constellation Brands, Inc. will post 13.5 earnings per share for the current fiscal 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 2.20%. 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%.

Insider Buying and Selling

In related news, EVP Samuel J. Glaetzer sold 3,150 shares of the firm'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 $589,376.04. This trade represents a 50.19% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 12.19% of the stock is currently owned by company insiders.

About Constellation Brands

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.