New York Life Investment Management LLC Raises Stake in Constellation Brands, Inc. (NYSE:STZ)

New York Life Investment Management LLC raised its position in Constellation Brands, Inc. (NYSE:STZ) by 0.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,981 shares of the company’s stock after acquiring an additional 88 shares during the quarter. New York Life Investment Management LLC’s holdings in Constellation Brands were worth $4,637,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Compagnie Lombard Odier SCmA purchased a new position in Constellation Brands in the fourth quarter worth approximately $27,000. Union Bancaire Privee UBP SA purchased a new stake in shares of Constellation Brands during the 4th quarter worth approximately $28,000. Versant Capital Management Inc lifted its position in shares of Constellation Brands by 887.5% during the 4th quarter. Versant Capital Management Inc now owns 158 shares of the company’s stock worth $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 4th quarter worth approximately $35,000. Finally, Whipplewood Advisors LLC purchased a new stake in shares of Constellation Brands during the 4th quarter worth approximately $36,000. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Constellation Brands Stock Performance

Shares of STZ opened at $175.74 on Friday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.46 and a current ratio of 1.10. The stock has a market capitalization of $31.76 billion, a P/E ratio of 47.24, a P/E/G ratio of 1.52 and a beta of 1.75. The company’s fifty day moving average is $189.00 and its two-hundred day moving average is $223.72. Constellation Brands, Inc. has a 1 year low of $160.46 and a 1 year high of $274.87.

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 the consensus estimate of $3.33 by ($0.08). The firm had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.53 billion. Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. The business’s quarterly revenue was down .3% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.19 earnings per share. On average, sell-side analysts predict that Constellation Brands, Inc. will post 13.5 earnings per share for the current year.

Constellation Brands Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 7th were paid 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 dividend yield of 2.30%. Constellation Brands’s dividend payout ratio (DPR) is presently 108.60%.

Insider Transactions at Constellation Brands

In related news, Director William T. Giles purchased 1,000 shares of the stock in a transaction dated Friday, January 17th. The shares were acquired at an average cost of $186.39 per share, with a total value of $186,390.00. Following the purchase, the director now directly owns 1,463 shares in the company, valued at $272,688.57. This trade represents a 215.98 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 12.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on STZ. Argus downgraded shares of Constellation Brands from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Jefferies Financial Group restated a “hold” rating and set a $201.00 price objective (down previously from $310.00) on shares of Constellation Brands in a research report on Monday, January 13th. Needham & Company LLC restated a “buy” rating and set a $240.00 price objective on shares of Constellation Brands in a research report on Monday, January 27th. Truist Financial reduced their price objective on shares of Constellation Brands from $255.00 to $190.00 and set a “hold” rating for the company in a research report on Tuesday, January 14th. Finally, Piper Sandler cut shares of Constellation Brands from an “overweight” rating to a “neutral” rating and cut their target price for the company from $245.00 to $200.00 in a report on Monday, February 3rd. One analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Constellation Brands has an average rating of “Hold” and an average target price of $253.43.

Constellation Brands Company 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.