Grimes & Company Inc. Buys 3,677 Shares of Constellation Brands, Inc. (NYSE:STZ)

Grimes & Company Inc. increased its stake in Constellation Brands, Inc. (NYSE:STZ) by 13.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 31,277 shares of the company’s stock after acquiring an additional 3,677 shares during the period. Grimes & Company Inc.’s holdings in Constellation Brands were worth $5,740,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

STZ has been the topic of a number of research analyst reports. Wells Fargo & Company reduced their price target on Constellation Brands from $230.00 to $210.00 and set an “overweight” rating on the stock in a report on Wednesday, April 2nd. Needham & Company LLC restated a “buy” rating and set a $215.00 price target on shares of Constellation Brands in a report on Thursday, April 10th. Piper Sandler increased their target price on Constellation Brands from $165.00 to $170.00 and gave the stock a “neutral” rating in a research report on Friday, June 6th. Bernstein Bank decreased their target price on Constellation Brands from $260.00 to $225.00 and set an “outperform” rating for the company in a research report on Thursday, April 10th. Finally, Jefferies Financial Group decreased their target price on Constellation Brands from $201.00 to $196.00 in a research report on Friday, April 11th. Eleven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, Constellation Brands has a consensus rating of “Moderate Buy” and a consensus price target of $220.00.

Insider Transactions at Constellation Brands

In other news, EVP Samuel J. Glaetzer sold 3,150 shares of the firm’s stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $188.54, for a total value of $593,901.00. Following the transaction, the executive vice president now directly owns 3,126 shares in the company, valued at $589,376.04. This trade represents a 50.19% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 12.19% of the company’s stock.

Constellation Brands Stock Performance

Shares of STZ opened at $162.70 on Tuesday. The business’s fifty day simple moving average is $183.05 and its two-hundred day simple moving average is $190.12. The company has a current ratio of 1.10, a quick ratio of 0.46 and a debt-to-equity ratio of 1.26. Constellation Brands, Inc. has a 12 month low of $160.46 and a 12 month high of $265.70. The company has a market cap of $28.96 billion, a price-to-earnings ratio of 43.74, a P/E/G ratio of 1.52 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last issued its earnings results on Wednesday, April 9th. The company reported $2.63 EPS for the quarter, beating the consensus estimate of $2.28 by $0.35. Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The business had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.14 billion. During the same period last year, the business posted $2.26 EPS. The company’s revenue was up 1.2% compared to the same quarter last year. Research analysts anticipate 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 is an increase from Constellation Brands’s previous quarterly dividend of $1.01. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date was Tuesday, April 29th. Constellation Brands’s dividend payout ratio (DPR) is -800.00%.

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 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.