Constellation Brands, Inc. (NYSE:STZ) Shares Bought by Silvercrest Asset Management Group LLC

Silvercrest Asset Management Group LLC increased its stake in Constellation Brands, Inc. (NYSE:STZ) by 1.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 7,431 shares of the company’s stock after buying an additional 111 shares during the period. Silvercrest Asset Management Group LLC’s holdings in Constellation Brands were worth $1,642,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Mainstream Capital Management LLC purchased a new stake in shares of Constellation Brands in the 4th quarter valued at approximately $25,000. SBI Securities Co. Ltd. acquired a new stake in Constellation Brands during the 4th quarter valued at $26,000. Compagnie Lombard Odier SCmA acquired a new stake in Constellation Brands during the 4th quarter valued at $27,000. Union Bancaire Privee UBP SA purchased a new stake in shares of Constellation Brands in the fourth quarter valued at $28,000. Finally, Minot DeBlois Advisors LLC acquired a new stake in shares of Constellation Brands in the fourth quarter worth $29,000. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Constellation Brands Price Performance

Shares of NYSE:STZ opened at $189.36 on Wednesday. The stock has a market capitalization of $33.71 billion, a P/E ratio of 50.90, a P/E/G ratio of 1.52 and a beta of 1.75. The business has a 50-day moving average of $184.44 and a two-hundred day moving average of $198.63. Constellation Brands, Inc. has a fifty-two week low of $160.46 and a fifty-two week high of $265.70. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.10 and a quick ratio of 0.46.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $2.14 billion. Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The firm’s revenue was up 1.2% compared to the same quarter last year. During the same period last year, the business earned $2.26 EPS. On average, equities research analysts predict that Constellation Brands, Inc. will post 13.5 EPS for the current fiscal year.

Constellation Brands Increases Dividend

The company also recently disclosed 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 2.15%. This is a boost from Constellation Brands’s previous quarterly dividend of $1.01. The ex-dividend date was Tuesday, April 29th. Constellation Brands’s payout ratio is presently -800.00%.

Analysts Set New Price Targets

STZ has been the topic of several recent analyst reports. Needham & Company LLC reissued a “buy” rating and set a $215.00 price target on shares of Constellation Brands in a research report on Thursday, April 10th. Piper Sandler downgraded Constellation Brands from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $245.00 to $200.00 in a report on Monday, February 3rd. Truist Financial raised shares of Constellation Brands from a “hold” rating to a “buy” rating and set a $215.00 price target for the company in a research report on Wednesday, May 7th. Wells Fargo & Company lowered their price objective on shares of Constellation Brands from $230.00 to $210.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 2nd. Finally, StockNews.com upgraded shares of Constellation Brands from a “sell” rating to a “hold” rating in a research report on Tuesday. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $225.74.

Insider Buying and Selling

In other Constellation Brands news, EVP Samuel J. Glaetzer sold 3,150 shares of the business’s stock in a transaction on Tuesday, May 13th. The shares were 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. 12.19% of the stock is owned by insiders.

About Constellation Brands

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.