Constellation Brands, Inc. (NYSE:STZ) Position Increased by D.A. Davidson & CO.

D.A. Davidson & CO. increased its stake in Constellation Brands, Inc. (NYSE:STZ) by 11.2% during the 3rd quarter, HoldingsChannel reports. The firm owned 57,087 shares of the company’s stock after acquiring an additional 5,747 shares during the period. D.A. Davidson & CO.’s holdings in Constellation Brands were worth $14,711,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. Oakworth Capital Inc. lifted its holdings in shares of Constellation Brands by 4.4% in the 3rd quarter. Oakworth Capital Inc. now owns 989 shares of the company’s stock worth $255,000 after purchasing an additional 42 shares during the last quarter. PFG Investments LLC raised its stake in Constellation Brands by 3.8% during the 3rd quarter. PFG Investments LLC now owns 1,150 shares of the company’s stock valued at $296,000 after acquiring an additional 42 shares in the last quarter. Brighton Jones LLC raised its stake in Constellation Brands by 4.7% during the 2nd quarter. Brighton Jones LLC now owns 950 shares of the company’s stock valued at $244,000 after acquiring an additional 43 shares in the last quarter. Burns Matteson Capital Management LLC raised its stake in Constellation Brands by 1.5% during the 2nd quarter. Burns Matteson Capital Management LLC now owns 2,910 shares of the company’s stock valued at $749,000 after acquiring an additional 44 shares in the last quarter. Finally, Metis Global Partners LLC raised its stake in Constellation Brands by 0.8% during the 3rd quarter. Metis Global Partners LLC now owns 5,570 shares of the company’s stock valued at $1,435,000 after acquiring an additional 46 shares in the last quarter. Institutional investors own 77.34% of the company’s stock.

Wall Street Analysts Forecast Growth

STZ has been the topic of several recent analyst reports. UBS Group cut their target price on Constellation Brands from $320.00 to $295.00 and set a “buy” rating on the stock in a research note on Monday, September 9th. Wells Fargo & Company cut their target price on Constellation Brands from $300.00 to $295.00 and set an “overweight” rating on the stock in a research note on Tuesday. Truist Financial cut their target price on Constellation Brands from $265.00 to $255.00 and set a “hold” rating on the stock in a research note on Friday, October 4th. BNP Paribas began coverage on Constellation Brands in a research note on Monday. They set a “neutral” rating and a $261.00 target price on the stock. Finally, Evercore ISI lowered their price target on Constellation Brands from $310.00 to $300.00 and set an “outperform” rating on the stock in a research report on Friday, October 4th. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $289.16.

Insider Transactions at Constellation Brands

In other news, EVP Samuel J. Glaetzer sold 1,510 shares of the firm’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $245.57, for a total value of $370,810.70. Following the completion of the sale, the executive vice president now owns 4,970 shares of the company’s stock, valued at $1,220,482.90. This trade represents a 23.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Robert Sands sold 119,274 shares of the firm’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $242.37, for a total value of $28,908,439.38. Following the completion of the sale, the director now directly owns 431,729 shares of the company’s stock, valued at approximately $104,638,157.73. This trade represents a 21.65 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 189,956 shares of company stock valued at $46,058,091 over the last quarter. Company insiders own 12.19% of the company’s stock.

Constellation Brands Stock Performance

Shares of NYSE STZ opened at $233.68 on Wednesday. The company has a quick ratio of 0.53, a current ratio of 1.25 and a debt-to-equity ratio of 1.31. The stock has a market capitalization of $42.43 billion, a price-to-earnings ratio of 75.62, a PEG ratio of 1.69 and a beta of 1.75. The stock’s fifty day simple moving average is $242.42 and its 200 day simple moving average is $247.08. Constellation Brands, Inc. has a 52-week low of $224.76 and a 52-week high of $274.87.

Constellation Brands (NYSE:STZ) last issued its earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.08 by $0.24. The business had revenue of $2.92 billion for the quarter, compared to analysts’ expectations of $2.95 billion. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The company’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period in the previous year, the firm posted $3.70 EPS. As a group, sell-side analysts forecast that Constellation Brands, Inc. will post 13.57 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th were given a $1.01 dividend. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $4.04 annualized dividend and a dividend yield of 1.73%. Constellation Brands’s dividend payout ratio (DPR) is presently 130.74%.

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.