Cypress Asset Management Inc. TX Takes $3.51 Million Position in Constellation Brands, Inc. (NYSE:STZ)

Cypress Asset Management Inc. TX acquired a new stake in shares of Constellation Brands, Inc. (NYSE:STZ - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 14,512 shares of the company's stock, valued at approximately $3,508,000.

A number of other hedge funds also recently made changes to their positions in the company. Kestra Private Wealth Services LLC grew its position in shares of Constellation Brands by 17.2% during the third quarter. Kestra Private Wealth Services LLC now owns 17,218 shares of the company's stock worth $4,327,000 after buying an additional 2,526 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of Constellation Brands by 15.3% during the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 32,433 shares of the company's stock worth $8,151,000 after buying an additional 4,311 shares in the last quarter. Perigon Wealth Management LLC grew its position in shares of Constellation Brands by 46.0% during the fourth quarter. Perigon Wealth Management LLC now owns 6,012 shares of the company's stock worth $1,453,000 after buying an additional 1,893 shares in the last quarter. CoreCap Advisors LLC grew its position in shares of Constellation Brands by 35.8% during the fourth quarter. CoreCap Advisors LLC now owns 2,002 shares of the company's stock worth $484,000 after buying an additional 528 shares in the last quarter. Finally, Ascent Wealth Partners LLC acquired a new stake in shares of Constellation Brands during the fourth quarter worth approximately $962,000. Hedge funds and other institutional investors own 77.34% of the company's stock.

Constellation Brands Stock Performance

Shares of NYSE STZ traded down $3.81 during midday trading on Thursday, reaching $245.13. 1,282,101 shares of the company traded hands, compared to its average volume of 1,188,136. Constellation Brands, Inc. has a 52 week low of $227.50 and a 52 week high of $274.87. The stock has a 50-day moving average price of $261.29 and a 200 day moving average price of $250.70. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.19 and a quick ratio of 0.53. The company has a market cap of $44.85 billion, a price-to-earnings ratio of 26.13, a PEG ratio of 1.69 and a beta of 0.95.

Constellation Brands (NYSE:STZ - Get Free Report) last issued its quarterly earnings data on Thursday, April 11th. The company reported $2.26 earnings per share for the quarter, beating analysts' consensus estimates of $2.10 by $0.16. Constellation Brands had a net margin of 16.13% and a return on equity of 23.06%. The business had revenue of $2.14 billion for the quarter, compared to analysts' expectations of $2.09 billion. During the same period in the previous year, the business earned $1.98 earnings per share. The company's revenue was up 7.1% on a year-over-year basis. Sell-side analysts anticipate that Constellation Brands, Inc. will post 13.53 earnings per share for the current fiscal year.

Constellation Brands Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 17th. Shareholders of record on Friday, May 3rd were given a $1.01 dividend. The ex-dividend date was Thursday, May 2nd. This is a boost from Constellation Brands's previous quarterly dividend of $0.89. This represents a $4.04 annualized dividend and a yield of 1.65%. Constellation Brands's payout ratio is 43.07%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Argus raised shares of Constellation Brands from a "hold" rating to a "buy" rating and set a $306.00 price target for the company in a research report on Monday, April 15th. Evercore ISI lifted their price objective on shares of Constellation Brands from $300.00 to $310.00 and gave the stock an "outperform" rating in a report on Friday, April 12th. Piper Sandler started coverage on shares of Constellation Brands in a report on Friday, March 22nd. They issued an "overweight" rating and a $300.00 price objective for the company. HSBC lifted their price objective on shares of Constellation Brands from $290.00 to $300.00 and gave the stock a "buy" rating in a report on Friday, April 12th. Finally, Royal Bank of Canada lifted their price objective on shares of Constellation Brands from $295.00 to $308.00 and gave the stock an "outperform" rating in a report on Friday, April 12th. Three equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, Constellation Brands presently has an average rating of "Moderate Buy" and an average target price of $298.55.

Insiders Place Their Bets

In other Constellation Brands news, EVP James A. Jr. Sabia sold 15,781 shares of the business's stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $263.63, for a total value of $4,160,345.03. Following the sale, the executive vice president now directly owns 20,910 shares in the company, valued at $5,512,503.30. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Constellation Brands news, EVP Michael Mcgrew sold 3,237 shares of the business's stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $255.50, for a total transaction of $827,053.50. Following the sale, the executive vice president now owns 1,731 shares in the company, valued at approximately $442,270.50. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP James A. Jr. Sabia sold 15,781 shares of the business's stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $263.63, for a total value of $4,160,345.03. Following the sale, the executive vice president now owns 20,910 shares in the company, valued at approximately $5,512,503.30. The disclosure for this sale can be found here. Over the last three months, insiders have sold 48,031 shares of company stock worth $12,582,321. 16.19% of the stock is owned by corporate insiders.

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 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.