First American Bank Raises Position in Constellation Brands, Inc. (NYSE:STZ)

First American Bank grew its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 0.9% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 32,850 shares of the company’s stock after purchasing an additional 281 shares during the period. First American Bank’s holdings in Constellation Brands were worth $7,260,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Compagnie Lombard Odier SCmA bought a new position in Constellation Brands in the 4th quarter valued at approximately $27,000. Union Bancaire Privee UBP SA bought a new position in shares of Constellation Brands during the fourth quarter valued at $28,000. Versant Capital Management Inc boosted its position in shares of Constellation Brands by 887.5% during the fourth quarter. Versant Capital Management Inc now owns 158 shares of the company’s stock valued at $35,000 after buying an additional 142 shares during the last quarter. Centricity Wealth Management LLC purchased a new stake in shares of Constellation Brands during the fourth quarter valued at $35,000. Finally, Whipplewood Advisors LLC bought a new stake in Constellation Brands in the 4th quarter worth about $36,000. Institutional investors own 77.34% of the company’s stock.

Insider Activity

In other Constellation Brands news, Director William T. Giles bought 1,000 shares of the business’s stock in a transaction that occurred on Friday, January 17th. The stock was purchased at an average price of $186.39 per share, for a total transaction of $186,390.00. Following the completion of the transaction, the director now owns 1,463 shares of the company’s stock, valued at $272,688.57. This trade represents a 215.98 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 12.19% of the company’s stock.

Constellation Brands Trading Down 2.8 %

Constellation Brands stock opened at $173.43 on Friday. Constellation Brands, Inc. has a 12-month low of $160.46 and a 12-month high of $274.87. The firm has a market capitalization of $31.34 billion, a price-to-earnings ratio of 46.62, a P/E/G ratio of 1.52 and a beta of 1.75. The firm has a 50 day moving average of $190.04 and a 200 day moving average of $224.16. 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 announced its quarterly earnings data on Friday, January 10th. The company reported $3.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.08). Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The firm had revenue of $2.46 billion during the quarter, compared to analysts’ expectations of $2.53 billion. During the same period last year, the company earned $3.19 earnings per share. The business’s revenue for the quarter was down .3% on a year-over-year basis. As a group, research analysts predict that Constellation Brands, Inc. will post 13.5 earnings per share for the current year.

Constellation Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 7th were issued a dividend of $1.01 per share. The ex-dividend date was Friday, February 7th. This represents a $4.04 dividend on an annualized basis and a yield of 2.33%. Constellation Brands’s dividend payout ratio is presently 108.60%.

Wall Street Analyst Weigh In

Several research firms have issued reports on STZ. Truist Financial lowered their target price on shares of Constellation Brands from $255.00 to $190.00 and set a “hold” rating on the stock in a research note on Tuesday, January 14th. Royal Bank of Canada restated an “outperform” rating and set a $293.00 price objective on shares of Constellation Brands in a research report on Monday, February 3rd. BNP Paribas initiated coverage on shares of Constellation Brands in a research report on Monday, November 25th. They issued a “neutral” rating and a $261.00 target price for the company. Piper Sandler lowered shares of Constellation Brands from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $245.00 to $200.00 in a research note on Monday, February 3rd. Finally, Barclays dropped their price target on Constellation Brands from $282.00 to $214.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $253.43.

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.