Klingenstein Fields & Co. LP Has $27.94 Million Position in Constellation Brands, Inc. (NYSE:STZ)

Klingenstein Fields & Co. LP raised its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 1.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 115,560 shares of the company’s stock after purchasing an additional 1,113 shares during the quarter. Constellation Brands accounts for 1.2% of Klingenstein Fields & Co. LP’s investment portfolio, making the stock its 27th biggest holding. Klingenstein Fields & Co. LP’s holdings in Constellation Brands were worth $27,937,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Impact Partnership Wealth LLC raised its stake in Constellation Brands by 1,175.0% during the 3rd quarter. Impact Partnership Wealth LLC now owns 102 shares of the company’s stock valued at $26,000 after purchasing an additional 94 shares during the period. BKM Wealth Management LLC purchased a new position in shares of Constellation Brands during the 4th quarter valued at $28,000. Asset Dedication LLC grew its holdings in shares of Constellation Brands by 3,833.3% during the 3rd quarter. Asset Dedication LLC now owns 118 shares of the company’s stock valued at $30,000 after acquiring an additional 115 shares in the last quarter. Resurgent Financial Advisors LLC purchased a new position in shares of Constellation Brands during the 4th quarter valued at $34,000. Finally, Turtle Creek Wealth Advisors LLC purchased a new position in shares of Constellation Brands during the 4th quarter valued at $37,000. 77.34% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Wedbush restated an “outperform” rating and set a $300.00 price target on shares of Constellation Brands in a report on Wednesday, April 10th. Roth Mkm restated a “buy” rating and set a $305.00 price target on shares of Constellation Brands in a report on Friday, April 12th. Royal Bank of Canada boosted their price target on shares of Constellation Brands from $295.00 to $308.00 and gave the company an “outperform” rating in a report on Friday, April 12th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Constellation Brands from $256.00 to $262.00 and gave the company a “hold” rating in a report on Wednesday, April 10th. Finally, Piper Sandler initiated coverage on shares of Constellation Brands in a report on Friday, March 22nd. They set an “overweight” rating and a $300.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, Constellation Brands has a consensus rating of “Moderate Buy” and a consensus target price of $298.55.

Constellation Brands Stock Performance

Constellation Brands stock traded up $2.02 on Friday, reaching $260.70. 1,506,629 shares of the stock were exchanged, compared to its average volume of 1,361,376. The stock has a market cap of $47.66 billion, a PE ratio of 27.79, a PEG 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, Inc. has a twelve month low of $221.81 and a twelve month high of $274.87. The firm has a fifty day moving average price of $258.19 and a two-hundred day moving average price of $247.28.

Constellation Brands (NYSE:STZ) last released its earnings results on Thursday, April 11th. The company reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates of $2.10 by $0.16. The firm had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.09 billion. Constellation Brands had a net margin of 16.13% and a return on equity of 23.06%. The business’s revenue was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.98 EPS. Sell-side analysts anticipate that Constellation Brands, Inc. will post 13.51 EPS for the current year.

Constellation Brands Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Friday, May 3rd will be given a dividend of $1.01 per share. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.55%. This is a positive change from Constellation Brands’s previous quarterly dividend of $0.89. Constellation Brands’s dividend payout ratio is currently 37.95%.

Insider Activity

In other news, EVP James A. Jr. Sabia sold 15,781 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now owns 20,910 shares of the company’s stock, valued at $5,512,503.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 16.19% of the stock is owned by company 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.