CCM Investment Advisers LLC Grows Stake in Constellation Brands, Inc. (NYSE:STZ)

CCM Investment Advisers LLC boosted its holdings in Constellation Brands, Inc. (NYSE:STZ) by 2.4% in the second quarter, HoldingsChannel.com reports. The firm owned 33,055 shares of the company’s stock after buying an additional 784 shares during the quarter. CCM Investment Advisers LLC’s holdings in Constellation Brands were worth $8,504,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Arkadios Wealth Advisors increased its position in shares of Constellation Brands by 9.1% during the fourth quarter. Arkadios Wealth Advisors now owns 1,265 shares of the company’s stock worth $306,000 after purchasing an additional 105 shares in the last quarter. Allworth Financial LP boosted its holdings in shares of Constellation Brands by 14.6% in the fourth quarter. Allworth Financial LP now owns 2,548 shares of the company’s stock valued at $616,000 after acquiring an additional 325 shares during the period. Stratos Wealth Advisors LLC grew its position in shares of Constellation Brands by 3.6% during the fourth quarter. Stratos Wealth Advisors LLC now owns 2,205 shares of the company’s stock worth $533,000 after acquiring an additional 77 shares during the last quarter. DekaBank Deutsche Girozentrale increased its holdings in shares of Constellation Brands by 4.6% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 27,084 shares of the company’s stock valued at $6,540,000 after acquiring an additional 1,200 shares during the period. Finally, Nisa Investment Advisors LLC raised its position in Constellation Brands by 1.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 64,211 shares of the company’s stock valued at $15,523,000 after purchasing an additional 900 shares during the last quarter. 77.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Constellation Brands

In other news, Director Daniel J. Mccarthy sold 1,854 shares of the company’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $252.43, for a total value of $468,005.22. Following the completion of the sale, the director now owns 3,232 shares of the company’s stock, valued at $815,853.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, EVP Kaneenat Kristann Carey sold 977 shares of the business’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $261.00, for a total transaction of $254,997.00. Following the completion of 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 legal filing with the SEC, which is available through this link. Also, Director Daniel J. Mccarthy sold 1,854 shares of the company’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $252.43, for a total value of $468,005.22. Following the transaction, the director now owns 3,232 shares of the company’s stock, valued at $815,853.76. The disclosure for this sale can be found here. 12.19% of the stock is owned by insiders.

Constellation Brands Trading Up 0.6 %

NYSE:STZ traded up $1.54 on Friday, hitting $241.41. 889,480 shares of the stock were exchanged, compared to its average volume of 1,202,049. The stock has a fifty day moving average of $251.87 and a 200-day moving average of $254.25. The stock has a market cap of $44.17 billion, a PE ratio of 17.83, a PEG ratio of 1.62 and a beta of 1.75. The company has a current ratio of 1.19, a quick ratio of 0.53 and a debt-to-equity ratio of 1.06. Constellation Brands, Inc. has a fifty-two week low of $227.50 and a fifty-two week high of $274.87.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings results on Wednesday, July 3rd. The company reported $3.57 EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of $2.67 billion. During the same quarter last year, the firm posted $2.91 earnings per share. Constellation Brands’s revenue for the quarter was up 5.8% compared to the same quarter last year. As a group, equities analysts expect that Constellation Brands, Inc. will post 13.57 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Wednesday, August 14th will be given a dividend of $1.01 per share. The ex-dividend date is Wednesday, August 14th. This represents a $4.04 dividend on an annualized basis and a yield of 1.67%. Constellation Brands’s dividend payout ratio (DPR) is 30.10%.

Analyst Ratings Changes

STZ has been the topic of a number of research reports. Jefferies Financial Group raised their price target on Constellation Brands from $310.00 to $311.00 and gave the stock a “buy” rating in a report on Friday, July 5th. JPMorgan Chase & Co. upped their price target on Constellation Brands from $291.00 to $320.00 and gave the stock an “overweight” rating in a research note on Friday, July 5th. UBS Group boosted their price objective on shares of Constellation Brands from $315.00 to $320.00 and gave the company a “buy” rating in a research note on Friday, July 5th. Barclays boosted their price target on shares of Constellation Brands from $287.00 to $295.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. Finally, 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. Three investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, Constellation Brands currently has a consensus rating of “Moderate Buy” and a consensus target price of $300.28.

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.