W.G. Shaheen & Associates DBA Whitney & Co Purchases 19,362 Shares of Constellation Brands Inc (NYSE:STZ)

W.G. Shaheen & Associates DBA Whitney & Co boosted its stake in shares of Constellation Brands Inc (NYSE:STZ - Free Report) by 25.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 94,056 shares of the company's stock after purchasing an additional 19,362 shares during the quarter. Constellation Brands comprises approximately 1.8% of W.G. Shaheen & Associates DBA Whitney & Co's investment portfolio, making the stock its 16th biggest position. W.G. Shaheen & Associates DBA Whitney & Co owned about 0.05% of Constellation Brands worth $17,261,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. raised its stake in Constellation Brands by 36.4% in the first quarter. Harbor Capital Advisors Inc. now owns 3,051 shares of the company's stock valued at $560,000 after purchasing an additional 815 shares in the last quarter. Golden State Wealth Management LLC raised its stake in Constellation Brands by 137.0% in the first quarter. Golden State Wealth Management LLC now owns 2,204 shares of the company's stock valued at $405,000 after purchasing an additional 1,274 shares in the last quarter. Oppenheimer Asset Management Inc. raised its stake in Constellation Brands by 28.9% in the first quarter. Oppenheimer Asset Management Inc. now owns 7,360 shares of the company's stock valued at $1,351,000 after purchasing an additional 1,651 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in Constellation Brands by 7.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 17,206 shares of the company's stock valued at $3,180,000 after purchasing an additional 1,185 shares in the last quarter. Finally, Bessemer Group Inc. grew its position in Constellation Brands by 3.0% in the first quarter. Bessemer Group Inc. now owns 2,242 shares of the company's stock valued at $412,000 after acquiring an additional 65 shares during the last quarter. 77.34% of the stock is owned by institutional investors.

Insider Activity

In other Constellation Brands news, EVP James O. Bourdeau sold 821 shares of the firm's stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $169.00, for a total value of $138,749.00. Following the completion of the transaction, the executive vice president owned 9,438 shares in the company, valued at $1,595,022. This trade represents a 8.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Samuel J. Glaetzer sold 3,150 shares of the firm's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $188.54, for a total value of $593,901.00. Following the completion of the transaction, the executive vice president owned 3,126 shares of the company's stock, valued at approximately $589,376.04. This represents a 50.19% decrease in their position. The disclosure for this sale can be found here. 12.45% of the stock is owned by company insiders.

Constellation Brands Stock Down 0.0%

Shares of NYSE:STZ traded down $0.03 during trading on Friday, reaching $175.61. 1,014,120 shares of the stock were exchanged, compared to its average volume of 2,480,315. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.07 and a quick ratio of 0.68. The stock has a fifty day moving average of $171.87 and a two-hundred day moving average of $178.20. Constellation Brands Inc has a 1-year low of $159.35 and a 1-year high of $261.06. The firm has a market cap of $30.96 billion, a price-to-earnings ratio of -73.48, a price-to-earnings-growth ratio of 10.63 and a beta of 0.67.

Constellation Brands (NYSE:STZ - Get Free Report) last announced its quarterly earnings data 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). Constellation Brands had a positive return on equity of 31.41% and a negative net margin of 4.11%. The firm had revenue of $2.52 billion during the quarter, compared to analysts' expectations of $2.57 billion. During the same period last year, the business posted $3.57 EPS. The company's revenue was down 5.5% compared to the same quarter last year. Research analysts anticipate that Constellation Brands Inc will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Wednesday, July 30th will be paid a $1.02 dividend. The ex-dividend date of this dividend is Wednesday, July 30th. This represents a $4.08 annualized dividend and a yield of 2.32%. Constellation Brands's dividend payout ratio is currently -170.71%.

Analysts Set New Price Targets

A number of research analysts have issued reports on STZ shares. Deutsche Bank Aktiengesellschaft decreased their target price on Constellation Brands from $191.00 to $185.00 and set a "hold" rating on the stock in a research report on Thursday, June 5th. CJS Securities decreased their target price on Constellation Brands from $196.00 to $194.00 in a research report on Monday, May 19th. Roth Mkm decreased their target price on Constellation Brands from $284.00 to $256.00 and set a "buy" rating on the stock in a research report on Thursday, April 3rd. Barclays set a $202.00 target price on Constellation Brands and gave the company an "overweight" rating in a research report on Thursday, June 26th. Finally, Piper Sandler boosted their price target on Constellation Brands from $165.00 to $170.00 and gave the stock a "neutral" rating in a report on Friday, June 6th. Eleven research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Constellation Brands currently has an average rating of "Moderate Buy" and a consensus target price of $213.74.

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.