Washington Trust Bank Increases Stock Position in Constellation Brands Inc (NYSE:STZ)

Washington Trust Bank increased its position in shares of Constellation Brands Inc (NYSE:STZ - Free Report) by 14.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 49,510 shares of the company's stock after acquiring an additional 6,063 shares during the quarter. Washington Trust Bank's holdings in Constellation Brands were worth $9,086,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. U.S. Capital Wealth Advisors LLC acquired a new stake in Constellation Brands during the 1st quarter worth about $317,000. Atlantic Edge Private Wealth Management LLC increased its stake in shares of Constellation Brands by 94.1% during the first quarter. Atlantic Edge Private Wealth Management LLC now owns 8,050 shares of the company's stock worth $1,477,000 after purchasing an additional 3,903 shares in the last quarter. Compass Wealth Management LLC raised its position in shares of Constellation Brands by 17.3% during the 1st quarter. Compass Wealth Management LLC now owns 43,643 shares of the company's stock worth $8,009,000 after purchasing an additional 6,436 shares during the last quarter. Vickerman Investment Advisors Inc. acquired a new position in shares of Constellation Brands during the 1st quarter worth about $442,000. Finally, Whelan Financial acquired a new stake in shares of Constellation Brands in the first quarter worth approximately $475,000. Institutional investors and hedge funds own 77.34% of the company's stock.

Insider Activity at Constellation Brands

In other Constellation Brands news, EVP Samuel J. Glaetzer sold 3,150 shares of Constellation Brands stock in a transaction that occurred 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 owned 3,126 shares in the company, valued at approximately $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 can be accessed through this hyperlink. 12.45% of the stock is owned by insiders.

Analysts Set New Price Targets

STZ has been the subject of a number of analyst reports. Roth Capital dropped their price objective on shares of Constellation Brands from $256.00 to $239.00 and set a "buy" rating for the company in a report on Tuesday, May 20th. Truist Financial raised shares of Constellation Brands from a "hold" rating to a "buy" rating and increased their price target for the company from $190.00 to $215.00 in a research note on Wednesday, May 7th. CJS Securities reduced their price target on shares of Constellation Brands from $196.00 to $194.00 in a research report on Monday, May 19th. Morgan Stanley lowered their price objective on 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, Piper Sandler lifted their target price on Constellation Brands from $165.00 to $170.00 and gave the company a "neutral" rating in a research report on Friday, June 6th. Eleven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat, Constellation Brands currently has a consensus rating of "Moderate Buy" and an average price target of $213.35.

Constellation Brands Stock Down 0.7%

Shares of NYSE STZ opened at $172.61 on Monday. The firm has a market cap of $30.73 billion, a price-to-earnings ratio of -72.22, a PEG ratio of 9.57 and a beta of 0.67. Constellation Brands Inc has a 1 year low of $159.35 and a 1 year high of $264.45. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.68 and a current ratio of 1.07. The stock's 50-day simple moving average is $177.11 and its 200-day simple moving average is $183.02.

Constellation Brands (NYSE:STZ - Get Free Report) last released its earnings results on Tuesday, July 1st. The company reported $3.22 earnings per share for the quarter, missing the consensus estimate of $3.45 by ($0.23). The company had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.57 billion. Constellation Brands had a positive return on equity of 31.41% and a negative net margin of 4.11%. Constellation Brands's revenue for the quarter was down 5.5% on a year-over-year basis. During the same period in the previous year, the firm posted $3.57 EPS. As a group, equities analysts anticipate that Constellation Brands Inc will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Wednesday, July 30th will be given a dividend of $1.02 per share. The ex-dividend date of this dividend is Wednesday, July 30th. This represents a $4.08 annualized dividend and a dividend yield of 2.36%. Constellation Brands's dividend payout ratio (DPR) is -170.71%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.