Golden State Equity Partners Purchases New Stake in Constellation Brands Inc (NYSE:STZ)

Golden State Equity Partners purchased a new stake in Constellation Brands Inc (NYSE:STZ) in the 1st quarter, HoldingsChannel reports. The fund purchased 2,638 shares of the company’s stock, valued at approximately $484,000.

Several other hedge funds have also bought and sold shares of STZ. Harbor Capital Advisors Inc. lifted its stake in Constellation Brands by 36.4% during the 1st quarter. Harbor Capital Advisors Inc. now owns 3,051 shares of the company’s stock valued at $560,000 after acquiring an additional 815 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in Constellation Brands during the 4th quarter valued at $26,000. Johnson Investment Counsel Inc. lifted its stake in Constellation Brands by 8.1% during the 1st quarter. Johnson Investment Counsel Inc. now owns 2,495 shares of the company’s stock valued at $458,000 after acquiring an additional 187 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in Constellation Brands by 179.2% during the 1st quarter. Farther Finance Advisors LLC now owns 2,069 shares of the company’s stock valued at $382,000 after acquiring an additional 1,328 shares in the last quarter. Finally, Bank Pictet & Cie Europe AG lifted its stake in Constellation Brands by 39.7% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 6,096 shares of the company’s stock valued at $1,347,000 after acquiring an additional 1,733 shares in the last quarter. Institutional investors and hedge funds own 77.34% of the company’s stock.

Constellation Brands Trading Down 1.8%

Shares of Constellation Brands stock opened at $161.56 on Thursday. Constellation Brands Inc has a 52-week low of $159.35 and a 52-week high of $264.45. The stock’s 50-day simple moving average is $179.85 and its 200 day simple moving average is $187.09. The stock has a market capitalization of $28.76 billion, a P/E ratio of -316.78, a P/E/G ratio of 9.07 and a beta of 0.70. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.56 and a current ratio of 0.92.

Constellation Brands (NYSE:STZ) last posted its earnings results on Wednesday, April 9th. The company reported $2.63 earnings per share for the quarter, beating analysts’ consensus estimates of $2.28 by $0.35. The business had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.14 billion. Constellation Brands had a positive return on equity of 29.56% and a negative net margin of 0.74%. The company’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.26 EPS. As a group, research analysts anticipate that Constellation Brands Inc will post 13.5 EPS for the current year.

Constellation Brands Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Tuesday, April 29th were issued a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date of this dividend was Tuesday, April 29th. This is a positive change from Constellation Brands’s previous quarterly dividend of $1.01. Constellation Brands’s payout ratio is presently -800.00%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Truist Financial upgraded Constellation Brands from a “hold” rating to a “buy” rating and raised their price objective for the company from $190.00 to $215.00 in a research note on Wednesday, May 7th. Bernstein Bank dropped their price objective on Constellation Brands from $260.00 to $225.00 and set an “outperform” rating on the stock in a research note on Thursday, April 10th. JPMorgan Chase & Co. dropped their price objective on Constellation Brands from $203.00 to $194.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. Jefferies Financial Group dropped their price objective on Constellation Brands from $201.00 to $196.00 in a research note on Friday, April 11th. Finally, Citigroup lowered their target price on Constellation Brands from $190.00 to $170.00 and set a “neutral” rating on the stock in a research note on Wednesday, June 18th. Eleven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $213.17.

Insider Buying and Selling at Constellation Brands

In other Constellation Brands news, EVP Samuel J. Glaetzer sold 3,150 shares of Constellation Brands stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $188.54, for a total transaction of $593,901.00. Following the completion of the transaction, the executive vice president now owns 3,126 shares of the company’s stock, valued at $589,376.04. The trade was a 50.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 12.45% of the company’s stock.

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.