Constellation Brands Inc (NYSE:STZ) Shares Purchased by Narwhal Capital Management

Narwhal Capital Management raised its holdings in shares of Constellation Brands Inc (NYSE:STZ) by 0.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,044 shares of the company’s stock after acquiring an additional 164 shares during the quarter. Narwhal Capital Management’s holdings in Constellation Brands were worth $5,697,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Oppenheimer & Co. Inc. raised its holdings in shares of Constellation Brands by 39.3% in the first quarter. Oppenheimer & Co. Inc. now owns 20,953 shares of the company’s stock worth $3,845,000 after acquiring an additional 5,907 shares during the last quarter. Oppenheimer Asset Management Inc. increased its position in Constellation Brands by 28.9% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 7,360 shares of the company’s stock worth $1,351,000 after purchasing an additional 1,651 shares in the last quarter. XML Financial LLC increased its position in Constellation Brands by 10.8% during the 1st quarter. XML Financial LLC now owns 1,584 shares of the company’s stock worth $291,000 after purchasing an additional 155 shares in the last quarter. Flagship Harbor Advisors LLC raised its stake in Constellation Brands by 122.3% in the 1st quarter. Flagship Harbor Advisors LLC now owns 4,281 shares of the company’s stock valued at $786,000 after purchasing an additional 2,355 shares during the last quarter. Finally, Altrius Capital Management Inc purchased a new position in Constellation Brands in the 1st quarter valued at about $4,477,000. Institutional investors and hedge funds own 77.34% of the company’s stock.

Constellation Brands Price Performance

Constellation Brands stock opened at $163.08 on Tuesday. Constellation Brands Inc has a 52-week low of $159.35 and a 52-week high of $265.70. The firm has a fifty day moving average of $180.67 and a 200-day moving average of $187.43. The firm has a market capitalization of $29.03 billion, a P/E ratio of -319.76, a PEG ratio of 8.96 and a beta of 0.70. The company has a quick ratio of 0.56, a current ratio of 0.92 and a debt-to-equity ratio of 1.30.

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

Constellation Brands Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Tuesday, April 29th were given a dividend of $1.02 per share. The ex-dividend date was Tuesday, April 29th. This is a positive change from Constellation Brands’s previous quarterly dividend of $1.01. This represents a $4.08 annualized dividend and a yield of 2.50%. Constellation Brands’s payout ratio is -800.00%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on STZ. Piper Sandler lifted their price target on shares of Constellation Brands from $165.00 to $170.00 and gave the stock a “neutral” rating in a report on Friday, June 6th. Bank of America lowered their target price on shares of Constellation Brands from $195.00 to $180.00 and set a “neutral” rating for the company in a research note on Wednesday, June 18th. Jefferies Financial Group reduced their price target on Constellation Brands from $201.00 to $196.00 in a research note on Friday, April 11th. Barclays raised their price objective on Constellation Brands from $203.00 to $207.00 and gave the stock an “overweight” rating in a report on Monday, April 14th. Finally, Truist Financial upgraded Constellation Brands from a “hold” rating to a “buy” rating and upped their target price for the company from $190.00 to $215.00 in a research note on Wednesday, May 7th. 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $215.87.

Insider Buying and Selling

In related news, EVP Samuel J. Glaetzer sold 3,150 shares of the firm’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 sale, the executive vice president now directly owns 3,126 shares of the company’s stock, valued at approximately $589,376.04. This trade represents a 50.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 12.45% 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 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.