SouthState Corp Acquires 4,552 Shares of Constellation Brands, Inc. (NYSE:STZ)

SouthState Corp raised its holdings in Constellation Brands, Inc. (NYSE:STZ) by 21.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 25,697 shares of the company’s stock after buying an additional 4,552 shares during the quarter. SouthState Corp’s holdings in Constellation Brands were worth $6,212,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in STZ. BKM Wealth Management LLC purchased a new position in Constellation Brands during the fourth quarter valued at $28,000. Asset Dedication LLC raised its stake in Constellation Brands by 3,833.3% during the third quarter. Asset Dedication LLC now owns 118 shares of the company’s stock valued at $30,000 after buying an additional 115 shares during the last quarter. Turtle Creek Wealth Advisors LLC purchased a new position in Constellation Brands during the fourth quarter valued at $37,000. Annis Gardner Whiting Capital Advisors LLC purchased a new position in Constellation Brands during the third quarter valued at $41,000. Finally, Exchange Traded Concepts LLC purchased a new position in Constellation Brands during the fourth quarter valued at $45,000. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Constellation Brands Stock Up 0.1 %

NYSE:STZ traded up $0.13 during trading hours on Thursday, hitting $254.08. The company’s stock had a trading volume of 692,819 shares, compared to its average volume of 1,243,100. The stock has a fifty day moving average of $260.48 and a 200-day moving average of $248.50. The stock has a market capitalization of $46.45 billion, a P/E ratio of 27.07, a price-to-earnings-growth ratio of 1.71 and a beta of 0.95. Constellation Brands, Inc. has a 52-week low of $221.81 and a 52-week high of $274.87. 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 (NYSE:STZ) last released its quarterly earnings results on Thursday, April 11th. The company reported $2.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.10 by $0.16. The firm had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.09 billion. Constellation Brands had a return on equity of 23.06% and a net margin of 16.13%. The business’s revenue was up 7.1% on a year-over-year basis. During the same quarter last year, the company posted $1.98 earnings per share. On average, equities analysts forecast that Constellation Brands, Inc. will post 13.51 earnings per share for the current year.

Constellation Brands Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Friday, May 3rd will be paid a $1.01 dividend. This is a boost from Constellation Brands’s previous quarterly dividend of $0.89. This represents a $4.04 annualized dividend and a yield of 1.59%. The ex-dividend date of this dividend is Thursday, May 2nd. Constellation Brands’s payout ratio is presently 37.95%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on STZ shares. Jefferies Financial Group boosted their price target on Constellation Brands from $292.00 to $314.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. Wedbush reissued an “outperform” rating and set a $300.00 price target on shares of Constellation Brands in a report on Wednesday, April 10th. Argus raised Constellation Brands from a “hold” rating to a “buy” rating and set a $306.00 price target for the company in a report on Monday, April 15th. Royal Bank of Canada boosted their price target on Constellation Brands from $295.00 to $308.00 and gave the company an “outperform” rating in a report on Friday, April 12th. Finally, Roth Mkm restated a “buy” rating and issued a $305.00 price objective on shares of Constellation Brands in a research report on Friday, April 12th. Three equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $298.55.

Insiders Place Their Bets

In related news, CEO William A. Newlands sold 4,013 shares of Constellation Brands stock in a transaction on Friday, April 19th. The shares were sold at an average price of $263.25, for a total transaction of $1,056,422.25. Following the transaction, the chief executive officer now owns 5,395 shares in the company, valued at approximately $1,420,233.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO William A. Newlands sold 4,013 shares of the company’s stock in a transaction dated Friday, April 19th. The shares were sold at an average price of $263.25, for a total value of $1,056,422.25. Following the sale, the chief executive officer now owns 5,395 shares in the company, valued at approximately $1,420,233.75. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 sale, the executive vice president now owns 20,910 shares in the company, valued at approximately $5,512,503.30. The disclosure for this sale can be found here. 16.19% of the stock is owned by corporate insiders.

Constellation Brands 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.