Constellation Brands, Inc. (NYSE:STZ) Shares Acquired by Navalign LLC

Navalign LLC lifted its position in Constellation Brands, Inc. (NYSE:STZ) by 3.6% during the 1st quarter, Holdings Channel.com reports. The fund owned 2,100 shares of the company’s stock after acquiring an additional 73 shares during the period. Navalign LLC’s holdings in Constellation Brands were worth $571,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BKM Wealth Management LLC acquired a new stake in shares of Constellation Brands during the fourth quarter worth about $28,000. Asset Dedication LLC lifted its stake in 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 during the period. Kapitalo Investimentos Ltda purchased a new stake in shares of Constellation Brands in the 4th quarter valued at $35,000. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Constellation Brands in the fourth quarter worth $37,000. Finally, Northwest Investment Counselors LLC purchased a new position in shares of Constellation Brands during the first quarter worth $46,000. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Constellation Brands Price Performance

Shares of NYSE:STZ traded up $1.63 during trading on Monday, reaching $265.13. The stock had a trading volume of 1,077,422 shares, compared to its average volume of 1,192,546. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.53 and a current ratio of 1.19. Constellation Brands, Inc. has a 1-year low of $227.50 and a 1-year high of $274.87. The stock has a market cap of $48.51 billion, a PE ratio of 28.27, a PEG ratio of 1.75 and a beta of 0.89. The business has a fifty day moving average price of $255.31 and a 200-day moving average price of $253.14.

Constellation Brands (NYSE:STZ) last announced its earnings results on Thursday, April 11th. The company reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.10 by $0.16. The company had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.09 billion. Constellation Brands had a net margin of 16.13% and a return on equity of 23.06%. The firm’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.98 EPS. On average, equities analysts forecast that Constellation Brands, Inc. will post 13.66 earnings per share for the current fiscal year.

Constellation Brands Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 17th. Shareholders of record on Friday, May 3rd were paid a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a yield of 1.52%. This is a positive change from Constellation Brands’s previous quarterly dividend of $0.89. The ex-dividend date of this dividend was Thursday, May 2nd. Constellation Brands’s dividend payout ratio (DPR) is 43.07%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Piper Sandler initiated coverage on Constellation Brands in a research report on Friday, March 22nd. They set an “overweight” rating and a $300.00 price target on the stock. Bank of America lifted their price target on Constellation Brands from $290.00 to $300.00 and gave the company a “buy” rating in a research report on Monday, March 18th. Barclays dropped their price objective on shares of Constellation Brands from $295.00 to $288.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 29th. Royal Bank of Canada reiterated an “outperform” rating and issued a $308.00 target price on shares of Constellation Brands in a research note on Tuesday, May 28th. Finally, Evercore ISI raised their price target on shares of Constellation Brands from $300.00 to $310.00 and gave the company an “outperform” rating in a research report on Friday, April 12th. Three research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Constellation Brands presently has a consensus rating of “Moderate Buy” and an average price target of $298.37.

Insider Transactions at Constellation Brands

In related news, EVP Michael Mcgrew sold 3,237 shares of Constellation Brands stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $255.50, for a total transaction of $827,053.50. Following the transaction, the executive vice president now owns 1,731 shares in the company, valued at $442,270.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, EVP Michael Mcgrew sold 3,237 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $255.50, for a total value of $827,053.50. Following the completion of the sale, the executive vice president now owns 1,731 shares of the company’s stock, valued at $442,270.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William A. Newlands sold 4,013 shares of Constellation Brands stock in a transaction dated Friday, April 19th. The stock was 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 directly owns 5,395 shares in the company, valued at $1,420,233.75. The disclosure for this sale can be found here. Insiders have sold a total of 48,031 shares of company stock worth $12,582,321 in the last ninety days. Insiders own 12.19% of the company’s stock.

About Constellation Brands

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.