Private Wealth Partners LLC Grows Stake in Constellation Brands, Inc. (NYSE:STZ)

Private Wealth Partners LLC boosted its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 3.3% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 3,720 shares of the company’s stock after buying an additional 120 shares during the quarter. Private Wealth Partners LLC’s holdings in Constellation Brands were worth $957,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. New Millennium Group LLC bought a new position in Constellation Brands in the 2nd quarter worth $25,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Constellation Brands during the 2nd quarter valued at approximately $29,000. Horizon Bancorp Inc. IN bought a new position in shares of Constellation Brands during the second quarter worth $32,000. YHB Investment Advisors Inc. purchased a new stake in Constellation Brands in the 1st quarter worth $35,000. Finally, First Financial Corp IN purchased a new stake in Constellation Brands in the 1st quarter worth $35,000. 77.34% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Constellation Brands

In other news, EVP Kaneenat Kristann Carey sold 977 shares of the firm’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $261.00, for a total transaction of $254,997.00. Following the sale, the executive vice president now owns 2,706 shares of the company’s stock, valued at approximately $706,266. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Garth Hankinson sold 13,583 shares of Constellation Brands stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $240.00, for a total value of $3,259,920.00. Following the sale, the chief financial officer now directly owns 11,702 shares in the company, valued at approximately $2,808,480. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Kaneenat Kristann Carey sold 977 shares of the stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $261.00, for a total value of $254,997.00. Following the transaction, the executive vice president now directly owns 2,706 shares of the company’s stock, valued at approximately $706,266. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,414 shares of company stock valued at $3,982,922. 12.19% of the stock is owned by insiders.

Constellation Brands Stock Performance

Shares of STZ stock opened at $248.79 on Thursday. The company has a quick ratio of 0.53, a current ratio of 1.19 and a debt-to-equity ratio of 1.06. The firm has a market cap of $45.52 billion, a price-to-earnings ratio of 18.54, a PEG ratio of 1.67 and a beta of 1.75. The company’s 50 day moving average is $246.02 and its 200 day moving average is $253.79. Constellation Brands, Inc. has a 52-week low of $227.50 and a 52-week high of $274.87.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings data on Wednesday, July 3rd. The company reported $3.57 EPS for the quarter, topping the consensus estimate of $3.46 by $0.11. Constellation Brands had a net margin of 22.70% and a return on equity of 23.72%. The firm had revenue of $2.66 billion during the quarter, compared to analyst estimates of $2.67 billion. During the same quarter in the previous year, the business posted $2.91 EPS. Constellation Brands’s revenue was up 5.8% on a year-over-year basis. On average, sell-side analysts anticipate that Constellation Brands, Inc. will post 13.7 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Wednesday, August 14th were issued a $1.01 dividend. This represents a $4.04 annualized dividend and a yield of 1.62%. The ex-dividend date of this dividend was Wednesday, August 14th. Constellation Brands’s payout ratio is 30.10%.

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 $303.00 to $298.00 and set a “buy” rating on the stock in a research note on Wednesday, September 4th. Morgan Stanley lowered their price objective on shares of Constellation Brands from $305.00 to $280.00 and set an “overweight” rating for the company in a research report on Monday, August 26th. Truist Financial restated a “hold” rating and set a $265.00 target price on shares of Constellation Brands in a research report on Wednesday, July 3rd. BMO Capital Markets reissued an “outperform” rating and set a $315.00 target price on shares of Constellation Brands in a research report on Friday, July 5th. Finally, Jefferies Financial Group increased their price objective on shares of Constellation Brands from $310.00 to $311.00 and gave the stock a “buy” rating in a research report on Friday, July 5th. Three equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, Constellation Brands currently has a consensus rating of “Moderate Buy” and a consensus target price of $296.78.

Constellation Brands 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.