Nvest Financial LLC Has $390,000 Position in Constellation Brands Inc (NYSE:STZ)

Nvest Financial LLC lifted its stake in shares of Constellation Brands Inc (NYSE:STZ) by 9.8% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 2,127 shares of the company’s stock after buying an additional 189 shares during the quarter. Nvest Financial LLC’s holdings in Constellation Brands were worth $390,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Mainstream Capital Management LLC acquired a new stake in Constellation Brands during the fourth quarter worth approximately $25,000. SBI Securities Co. Ltd. bought a new position in shares of Constellation Brands during the fourth quarter worth approximately $26,000. Union Bancaire Privee UBP SA acquired a new stake in Constellation Brands during the 4th quarter worth approximately $28,000. Minot DeBlois Advisors LLC acquired a new stake in Constellation Brands during the 4th quarter worth approximately $29,000. Finally, Optiver Holding B.V. bought a new stake in Constellation Brands in the 4th quarter valued at $31,000. Institutional investors and hedge funds own 77.34% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Citigroup lowered their price objective on Constellation Brands from $190.00 to $170.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 18th. Truist Financial upgraded shares of Constellation Brands from a “hold” rating to a “buy” rating and upped their price target for the company from $190.00 to $215.00 in a research note on Wednesday, May 7th. Royal Bank Of Canada dropped their price objective on shares of Constellation Brands from $289.00 to $233.00 and set an “outperform” rating for the company in a research note on Monday, April 14th. Roth Mkm cut their price objective on shares of Constellation Brands from $284.00 to $256.00 and set a “buy” rating for the company in a report on Thursday, April 3rd. Finally, Wells Fargo & Company decreased their target price on shares of Constellation Brands from $210.00 to $196.00 and set an “overweight” rating on the stock in a research report on Wednesday. Eleven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $213.17.

Insider Activity at Constellation Brands

In other Constellation Brands news, EVP Samuel J. Glaetzer sold 3,150 shares of the stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $188.54, for a total value of $593,901.00. Following the completion of the transaction, the executive vice president now directly owns 3,126 shares in the company, valued at approximately $589,376.04. This trade represents a 50.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 12.45% of the stock is currently owned by company insiders.

Constellation Brands Stock Performance

Constellation Brands stock opened at $161.56 on Thursday. The company has a quick ratio of 0.56, a current ratio of 0.92 and a debt-to-equity ratio of 1.30. The stock has a market cap of $28.76 billion, a PE ratio of -316.78, a P/E/G ratio of 9.07 and a beta of 0.70. Constellation Brands Inc has a 12-month low of $159.35 and a 12-month high of $264.45. The business’s 50-day moving average price is $179.85 and its two-hundred day moving average price is $187.09.

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

Constellation Brands Increases Dividend

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

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.