Weybosset Research & Management LLC acquired a new stake in shares of Constellation Brands, Inc. (NYSE:STZ) during the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 1,350 shares of the company’s stock, valued at approximately $237,000.
Other institutional investors have also recently bought and sold shares of the company. First Manhattan Co. raised its holdings in shares of Constellation Brands by 19.7% in the first quarter. First Manhattan Co. now owns 383 shares of the company’s stock worth $67,000 after buying an additional 63 shares during the last quarter. Eads & Heald Wealth Management grew its holdings in shares of Constellation Brands by 2.3% during the fourth quarter. Eads & Heald Wealth Management now owns 3,370 shares of the company’s stock worth $542,000 after purchasing an additional 76 shares during the last quarter. National Asset Management Inc. grew its holdings in shares of Constellation Brands by 2.5% during the fourth quarter. National Asset Management Inc. now owns 3,263 shares of the company’s stock worth $525,000 after purchasing an additional 79 shares during the last quarter. Bogart Wealth LLC grew its holdings in shares of Constellation Brands by 17.6% during the fourth quarter. Bogart Wealth LLC now owns 574 shares of the company’s stock worth $92,000 after purchasing an additional 86 shares during the last quarter. Finally, San Francisco Sentry Investment Group CA grew its holdings in shares of Constellation Brands by 2.7% during the fourth quarter. San Francisco Sentry Investment Group CA now owns 3,218 shares of the company’s stock worth $518,000 after purchasing an additional 86 shares during the last quarter. 73.15% of the stock is currently owned by institutional investors and hedge funds.
Several analysts have recently commented on STZ shares. HSBC upgraded Constellation Brands from a “hold” rating to a “buy” rating in a report on Monday, January 7th. They noted that the move was a valuation call. Macquarie dropped coverage on Constellation Brands in a research report on Thursday, January 10th. Bank of America reaffirmed a “buy” rating and set a $216.00 price target (up previously from $188.00) on shares of Constellation Brands in a research report on Friday, April 5th. They noted that the move was a valuation call. Argus dropped their price target on Constellation Brands from $260.00 to $210.00 and set a “buy” rating on the stock in a research report on Friday, January 11th. Finally, Credit Suisse Group set a $230.00 price target on Constellation Brands and gave the stock a “buy” rating in a research report on Friday, April 5th. One analyst has rated the stock with a sell rating, ten have given a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $222.42.
Constellation Brands (NYSE:STZ) last posted its quarterly earnings data on Thursday, April 4th. The company reported $1.84 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.72 by $0.12. The business had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.73 billion. Constellation Brands had a return on equity of 15.63% and a net margin of 38.67%. Constellation Brands’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period last year, the company earned $1.90 earnings per share. On average, research analysts predict that Constellation Brands, Inc. will post 8.53 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.58%. This is an increase from Constellation Brands’s previous quarterly dividend of $0.74. The ex-dividend date is Thursday, May 9th. Constellation Brands’s dividend payout ratio (DPR) is currently 31.90%.
In other news, Director Barry A. Fromberg sold 1,500 shares of Constellation Brands stock in a transaction that occurred on Friday, February 15th. The stock was sold at an average price of $174.72, for a total transaction of $262,080.00. Following the completion of the transaction, the director now directly owns 18,240 shares in the company, valued at approximately $3,186,892.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Thomas Michael Kane sold 3,071 shares of Constellation Brands stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $190.08, for a total value of $583,735.68. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,381 shares of company stock valued at $985,986. Corporate insiders own 15.80% of the company’s stock.
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Constellation Brands Profile
Constellation Brands, Inc, together with its subsidiaries, produces, imports, and markets beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. The company sells wine across various categories, including table wine, sparkling wine, and dessert wine. It provides beer primarily under the Corona Extra, Corona Light, Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands, as well as Funky Buddha, Obregon Brewery, and Ballast Point brands.
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