Linscomb & Williams Inc. Boosts Stake in Constellation Brands, Inc. (NYSE:STZ)

Linscomb & Williams Inc. lifted its holdings in Constellation Brands, Inc. (NYSE:STZ) by 6.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,636 shares of the company’s stock after buying an additional 698 shares during the period. Linscomb & Williams Inc.’s holdings in Constellation Brands were worth $2,653,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of STZ. First Trust Advisors LP lifted its stake in shares of Constellation Brands by 4.6% in the first quarter. First Trust Advisors LP now owns 18,870 shares of the company’s stock worth $3,308,000 after buying an additional 833 shares in the last quarter. State of Wisconsin Investment Board lifted its stake in shares of Constellation Brands by 21.3% in the fourth quarter. State of Wisconsin Investment Board now owns 302,029 shares of the company’s stock worth $66,159,000 after buying an additional 52,938 shares in the last quarter. National Asset Management Inc. lifted its stake in shares of Constellation Brands by 31.3% in the fourth quarter. National Asset Management Inc. now owns 2,079 shares of the company’s stock worth $456,000 after buying an additional 496 shares in the last quarter. Daiwa Securities Group Inc. lifted its stake in shares of Constellation Brands by 4.8% in the fourth quarter. Daiwa Securities Group Inc. now owns 8,569 shares of the company’s stock worth $1,877,000 after buying an additional 389 shares in the last quarter. Finally, Searle & CO. purchased a new position in shares of Constellation Brands in the fourth quarter worth about $230,000. 70.60% of the stock is currently owned by hedge funds and other institutional investors.

Several equities research analysts recently issued reports on STZ shares. Sanford C. Bernstein started coverage on shares of Constellation Brands in a research report on Monday, May 24th. They set an “outperform” rating and a $305.00 price objective for the company. Jefferies Financial Group raised their price objective on shares of Constellation Brands from $276.00 to $300.00 and gave the stock a “buy” rating in a research report on Monday, April 5th. Wolfe Research started coverage on shares of Constellation Brands in a research report on Monday, April 19th. They set an “outperform” rating and a $265.00 price objective for the company. Royal Bank of Canada raised their price objective on shares of Constellation Brands from $262.00 to $300.00 and gave the stock a “sector perform” rating in a research report on Monday, May 17th. Finally, Evercore ISI restated a “buy” rating on shares of Constellation Brands in a research report on Sunday, June 6th. Ten analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $244.50.

Shares of Constellation Brands stock opened at $237.17 on Friday. Constellation Brands, Inc. has a 52-week low of $160.63 and a 52-week high of $244.75. The business has a 50 day moving average price of $236.26. The company has a quick ratio of 1.38, a current ratio of 2.40 and a debt-to-equity ratio of 0.75. The stock has a market capitalization of $46.02 billion, a P/E ratio of 23.30, a P/E/G ratio of 4.08 and a beta of 1.20.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings results on Wednesday, April 7th. The company reported $1.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.55 by $0.27. Constellation Brands had a net margin of 21.36% and a return on equity of 15.28%. The company had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter in the previous year, the firm earned $2.18 earnings per share. The firm’s quarterly revenue was up 3.2% on a year-over-year basis. As a group, analysts predict that Constellation Brands, Inc. will post 10.03 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 18th. Investors of record on Tuesday, May 4th were paid a $0.76 dividend. The ex-dividend date was Monday, May 3rd. This represents a $3.04 dividend on an annualized basis and a yield of 1.28%. This is an increase from Constellation Brands’s previous quarterly dividend of $0.75. Constellation Brands’s payout ratio is currently 9.33%.

In other news, Director Jeremy S. G. Fowden sold 6,517 shares of the business’s stock in a transaction that occurred on Thursday, April 29th. The shares were sold at an average price of $241.90, for a total transaction of $1,576,462.30. Following the completion of the sale, the director now owns 24,451 shares in the company, valued at approximately $5,914,696.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James A. Jr. Sabia sold 12,120 shares of the business’s stock in a transaction that occurred on Tuesday, May 25th. The stock was sold at an average price of $239.05, for a total transaction of $2,897,286.00. Following the sale, the director now owns 58,044 shares of the company’s stock, valued at approximately $13,875,418.20. The disclosure for this sale can be found here. Insiders sold 49,999 shares of company stock valued at $11,986,684 in the last quarter. 15.77% of the stock is owned by insiders.

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. It provides beer primarily under the Corona Extra, Corona Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands.

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Institutional Ownership by Quarter for Constellation Brands (NYSE:STZ)

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