Constellation Brands, Inc. (NYSE:STZ) Stock Position Increased by OLD National Bancorp IN

OLD National Bancorp IN boosted its position in Constellation Brands, Inc. (NYSE:STZ) by 4.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 48,654 shares of the company’s stock after purchasing an additional 2,216 shares during the quarter. OLD National Bancorp IN’s holdings in Constellation Brands were worth $11,762,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in Constellation Brands by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 12,601,280 shares of the company’s stock valued at $2,902,327,000 after purchasing an additional 313,344 shares during the last quarter. Morgan Stanley increased its stake in Constellation Brands by 1.5% during the 3rd quarter. Morgan Stanley now owns 4,050,468 shares of the company’s stock valued at $1,018,005,000 after buying an additional 58,518 shares during the period. Moneta Group Investment Advisors LLC increased its stake in Constellation Brands by 84,839.5% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 3,742,434 shares of the company’s stock valued at $867,309,000 after buying an additional 3,738,028 shares during the period. Barclays PLC increased its stake in Constellation Brands by 102.0% during the 2nd quarter. Barclays PLC now owns 2,937,570 shares of the company’s stock valued at $723,027,000 after buying an additional 1,483,668 shares during the period. Finally, Geode Capital Management LLC increased its stake in Constellation Brands by 1.8% during the 1st quarter. Geode Capital Management LLC now owns 2,863,322 shares of the company’s stock valued at $645,055,000 after buying an additional 50,672 shares during the period. 77.34% of the stock is currently owned by institutional investors.

Constellation Brands Trading Up 0.8 %

Shares of STZ traded up $2.02 during midday trading on Friday, hitting $260.70. The stock had a trading volume of 1,506,629 shares, compared to its average volume of 1,361,376. Constellation Brands, Inc. has a fifty-two week low of $221.81 and a fifty-two week high of $274.87. The business has a 50-day simple moving average of $258.19 and a two-hundred day simple moving average of $247.28. The firm has a market cap of $47.66 billion, a P/E ratio of 27.79, a price-to-earnings-growth ratio of 1.76 and a beta of 0.97. The company has a current ratio of 1.19, a quick ratio of 0.53 and a debt-to-equity ratio of 1.06.

Constellation Brands (NYSE:STZ) last announced its earnings results on Thursday, April 11th. The company reported $2.26 EPS for the quarter, topping the consensus estimate of $2.10 by $0.16. Constellation Brands had a net margin of 16.13% and a return on equity of 23.06%. The company had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.09 billion. During the same period last year, the company posted $1.98 earnings per share. The business’s revenue for the quarter was up 7.1% on a year-over-year basis. As a group, equities analysts forecast that Constellation Brands, Inc. will post 13.51 EPS for the current year.

Constellation Brands Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Friday, May 3rd will be issued a dividend of $1.01 per share. This is a boost from Constellation Brands’s previous quarterly dividend of $0.89. This represents a $4.04 annualized dividend and a dividend yield of 1.55%. The ex-dividend date of this dividend is Thursday, May 2nd. Constellation Brands’s dividend payout ratio (DPR) is currently 37.95%.

Wall Street Analysts Forecast Growth

STZ has been the topic of several research analyst reports. Evercore ISI raised their target price on shares of Constellation Brands from $300.00 to $310.00 and gave the company an “outperform” rating in a research note on Friday, April 12th. BMO Capital Markets raised their target price on shares of Constellation Brands from $290.00 to $315.00 and gave the company an “outperform” rating in a research note on Friday, April 12th. Piper Sandler started coverage on shares of Constellation Brands in a research note on Friday, March 22nd. They set an “overweight” rating and a $300.00 target price on the stock. Roth Mkm reaffirmed a “buy” rating and issued a $305.00 price objective on shares of Constellation Brands in a research note on Friday, April 12th. Finally, Bank of America lifted their price objective on shares of Constellation Brands from $290.00 to $300.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Three research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $298.55.

Insider Buying and Selling

In related news, EVP James A. Jr. Sabia sold 15,781 shares of the firm’s stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $263.63, for a total transaction of $4,160,345.03. Following the completion of the sale, the executive vice president now directly owns 20,910 shares in the company, valued at $5,512,503.30. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 16.19% of the stock is currently owned by corporate insiders.

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