Janney Montgomery Scott LLC Boosts Stake in Constellation Brands, Inc. (NYSE:STZ)

Janney Montgomery Scott LLC grew its stake in Constellation Brands, Inc. (NYSE:STZ) by 2.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 138,024 shares of the company’s stock after buying an additional 2,927 shares during the period. Janney Montgomery Scott LLC owned 0.08% of Constellation Brands worth $30,504,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. AE Wealth Management LLC raised its holdings in shares of Constellation Brands by 10.2% during the second quarter. AE Wealth Management LLC now owns 1,530 shares of the company’s stock worth $394,000 after purchasing an additional 142 shares during the last quarter. Public Sector Pension Investment Board raised its holdings in shares of Constellation Brands by 78.3% during the second quarter. Public Sector Pension Investment Board now owns 5,704 shares of the company’s stock worth $1,468,000 after purchasing an additional 2,504 shares during the last quarter. Marshall Wace LLP raised its holdings in shares of Constellation Brands by 48.0% during the second quarter. Marshall Wace LLP now owns 65,487 shares of the company’s stock worth $16,848,000 after purchasing an additional 21,230 shares during the last quarter. AXA S.A. raised its holdings in shares of Constellation Brands by 54.2% during the second quarter. AXA S.A. now owns 2,146 shares of the company’s stock worth $552,000 after purchasing an additional 754 shares during the last quarter. Finally, APG Asset Management N.V. raised its holdings in shares of Constellation Brands by 239.5% during the second quarter. APG Asset Management N.V. now owns 18,853 shares of the company’s stock worth $4,526,000 after purchasing an additional 13,300 shares during the last quarter. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Wall Street Analysts Forecast Growth

STZ has been the subject of several recent research reports. Argus cut shares of Constellation Brands from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Roth Capital dropped their price target on shares of Constellation Brands from $298.00 to $284.00 and set a “buy” rating on the stock in a research report on Friday, January 17th. Royal Bank of Canada restated an “outperform” rating and set a $308.00 price target on shares of Constellation Brands in a research report on Tuesday, January 7th. Barclays dropped their price target on shares of Constellation Brands from $282.00 to $214.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 14th. Finally, Truist Financial dropped their price target on shares of Constellation Brands from $255.00 to $190.00 and set a “hold” rating on the stock in a research report on Tuesday, January 14th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $259.05.

Insider Buying and Selling

In other news, Director William T. Giles bought 1,000 shares of Constellation Brands stock in a transaction on Friday, January 17th. The shares were bought at an average cost of $186.39 per share, with a total value of $186,390.00. Following the completion of the purchase, the director now directly owns 1,463 shares of the company’s stock, valued at approximately $272,688.57. This trade represents a 215.98 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Wildstar Partners Llc sold 660 shares of Constellation Brands stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $241.00, for a total transaction of $159,060.00. Following the transaction, the insider now directly owns 1,736,884 shares in the company, valued at $418,589,044. This trade represents a 0.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 69,172 shares of company stock worth $16,778,841. 12.19% of the stock is owned by insiders.

Constellation Brands Stock Performance

STZ opened at $182.99 on Friday. The firm has a market capitalization of $33.07 billion, a PE ratio of 49.19, a PEG ratio of 1.58 and a beta of 0.91. Constellation Brands, Inc. has a twelve month low of $176.51 and a twelve month high of $274.87. The firm’s 50-day moving average price is $222.11 and its 200 day moving average price is $236.92. The company has a current ratio of 1.10, a quick ratio of 0.46 and a debt-to-equity ratio of 1.26.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings results on Friday, January 10th. The company reported $3.25 earnings per share for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.08). The business had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.53 billion. Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The business’s revenue was down .3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.19 earnings per share. As a group, sell-side analysts expect that Constellation Brands, Inc. will post 13.52 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Friday, February 7th will be given a dividend of $1.01 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $4.04 dividend on an annualized basis and a yield of 2.21%. Constellation Brands’s payout ratio is presently 108.60%.

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.