Ballast Inc. Has $387,000 Stock Position in Constellation Brands, Inc. (NYSE:STZ)

Ballast Inc. lowered its stake in Constellation Brands, Inc. (NYSE:STZ) by 10.3% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,599 shares of the company’s stock after selling 183 shares during the period. Ballast Inc.’s holdings in Constellation Brands were worth $387,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in STZ. Burns Matteson Capital Management LLC lifted its holdings in shares of Constellation Brands by 1.7% during the fourth quarter. Burns Matteson Capital Management LLC now owns 2,499 shares of the company’s stock worth $604,000 after purchasing an additional 42 shares during the period. Toth Financial Advisory Corp increased its position in shares of Constellation Brands by 0.3% during the third quarter. Toth Financial Advisory Corp now owns 16,237 shares of the company’s stock worth $4,081,000 after acquiring an additional 44 shares in the last quarter. United Capital Financial Advisers LLC increased its position in shares of Constellation Brands by 2.9% during the first quarter. United Capital Financial Advisers LLC now owns 1,552 shares of the company’s stock worth $357,000 after acquiring an additional 44 shares in the last quarter. IHT Wealth Management LLC increased its position in shares of Constellation Brands by 1.9% during the first quarter. IHT Wealth Management LLC now owns 2,406 shares of the company’s stock worth $543,000 after acquiring an additional 45 shares in the last quarter. Finally, Bragg Financial Advisors Inc grew its position in Constellation Brands by 1.6% in the 4th quarter. Bragg Financial Advisors Inc now owns 2,825 shares of the company’s stock worth $655,000 after purchasing an additional 45 shares in the last quarter. Institutional investors and hedge funds own 77.34% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Argus cut shares of Constellation Brands from a “buy” rating to a “hold” rating in a research note on Wednesday, January 10th. JPMorgan Chase & Co. dropped their price target on shares of Constellation Brands from $309.00 to $301.00 and set an “overweight” rating on the stock in a research note on Thursday, December 21st. Piper Sandler assumed coverage on shares of Constellation Brands in a report on Friday, March 22nd. They set an “overweight” rating and a $300.00 target price on the stock. Bank of America upped their target price on shares of Constellation Brands from $290.00 to $300.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Finally, TheStreet lowered shares of Constellation Brands from a “b” rating to a “c+” rating in a report on Friday, January 5th. Four investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, Constellation Brands has a consensus rating of “Moderate Buy” and a consensus target price of $290.37.

Constellation Brands Trading Down 0.1 %

Shares of NYSE STZ opened at $271.77 on Friday. Constellation Brands, Inc. has a 1 year low of $217.05 and a 1 year high of $273.65. The stock has a market cap of $49.68 billion, a P/E ratio of 32.16, a price-to-earnings-growth ratio of 1.87 and a beta of 0.96. The firm has a 50-day moving average of $253.01 and a 200 day moving average of $246.36. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.05 and a quick ratio of 0.46.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings results on Friday, January 5th. The company reported $3.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.03 by $0.16. Constellation Brands had a net margin of 14.76% and a return on equity of 23.35%. The company had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.54 billion. During the same period last year, the company posted $2.83 EPS. Constellation Brands’s revenue was up 1.4% on a year-over-year basis. As a group, sell-side analysts expect that Constellation Brands, Inc. will post 11.92 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 22nd. Shareholders of record on Thursday, February 8th were paid a dividend of $0.89 per share. The ex-dividend date of this dividend was Wednesday, February 7th. This represents a $3.56 dividend on an annualized basis and a yield of 1.31%. Constellation Brands’s dividend payout ratio is currently 42.13%.

Insider Buying and Selling at Constellation Brands

In other Constellation Brands news, major shareholder Family Foundation Sands sold 354,616 shares of the firm’s stock in a transaction dated Monday, January 8th. The shares were sold at an average price of $250.26, for a total transaction of $88,746,200.16. Following the completion of the sale, the insider now directly owns 54,461 shares in the company, valued at approximately $13,629,409.86. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 16.19% of the stock is owned by company insiders.

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 Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Victoria, Vicky Chamoy, and Pacifico brands.