Cerity Partners LLC Buys 10,403 Shares of Constellation Brands, Inc. (NYSE:STZ)

Cerity Partners LLC lifted its holdings in Constellation Brands, Inc. (NYSE:STZ - Free Report) by 13.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 85,741 shares of the company's stock after purchasing an additional 10,403 shares during the quarter. Cerity Partners LLC's holdings in Constellation Brands were worth $20,728,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Indiana Trust & Investment Management CO bought a new stake in Constellation Brands during the third quarter worth approximately $25,000. Impact Partnership Wealth LLC boosted its position in shares of Constellation Brands by 1,175.0% in the 3rd quarter. Impact Partnership Wealth LLC now owns 102 shares of the company's stock valued at $26,000 after purchasing an additional 94 shares during the period. BKM Wealth Management LLC purchased a new position in Constellation Brands in the 4th quarter worth about $28,000. Asset Dedication LLC raised its holdings in Constellation Brands by 3,833.3% during the 3rd quarter. Asset Dedication LLC now owns 118 shares of the company's stock worth $30,000 after buying an additional 115 shares during the period. Finally, Resurgent Financial Advisors LLC purchased a new stake in Constellation Brands during the fourth quarter valued at about $34,000. 77.34% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently commented on STZ shares. Piper Sandler began coverage on Constellation Brands in a research report on Friday, March 22nd. They issued an "overweight" rating and a $300.00 target price for the company. TheStreet downgraded Constellation Brands from a "b" rating to a "c+" rating in a research note on Friday, January 5th. UBS Group upped their price objective on shares of Constellation Brands from $312.00 to $320.00 and gave the stock a "buy" rating in a report on Friday. Argus lowered shares of Constellation Brands from a "buy" rating to a "hold" rating in a research report on Wednesday, January 10th. Finally, BMO Capital Markets lifted their price objective on Constellation Brands from $290.00 to $315.00 and gave the stock an "outperform" rating in a research note on Friday. Four research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $298.11.

Constellation Brands Price Performance

Shares of STZ traded down $6.10 during mid-day trading on Friday, reaching $262.24. The company had a trading volume of 1,629,401 shares, compared to its average volume of 1,318,122. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.19 and a quick ratio of 0.46. The company has a market capitalization of $47.94 billion, a P/E ratio of 27.96, a P/E/G ratio of 1.82 and a beta of 0.97. Constellation Brands, Inc. has a twelve month low of $221.81 and a twelve month high of $274.87. The company's 50-day moving average is $256.84 and its 200-day moving average is $246.96.

Constellation Brands (NYSE:STZ - Get Free Report) last posted its earnings results on Thursday, April 11th. The company reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.10 by $0.16. The business had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.09 billion. Constellation Brands had a net margin of 16.13% and a return on equity of 23.06%. The firm's quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.98 EPS. On average, equities analysts anticipate that Constellation Brands, Inc. will post 13.43 EPS for the current year.

Constellation Brands Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Friday, May 3rd will be paid a $1.01 dividend. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $4.04 dividend on an annualized basis and a yield of 1.54%. This is a positive change from Constellation Brands's previous quarterly dividend of $0.89. Constellation Brands's payout ratio is currently 43.07%.

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 Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Victoria, Vicky Chamoy, and Pacifico brands.