Fragasso Group Inc. Makes New $228,000 Investment in Constellation Brands, Inc. (NYSE:STZ)

Fragasso Group Inc. purchased a new stake in shares of Constellation Brands, Inc. (NYSE:STZ) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 838 shares of the company’s stock, valued at approximately $228,000.

Other large investors have also recently modified their holdings of the company. Norges Bank bought a new position in shares of Constellation Brands in the fourth quarter worth approximately $443,844,000. Darsana Capital Partners LP lifted its position in Constellation Brands by 288.9% in the 3rd quarter. Darsana Capital Partners LP now owns 875,000 shares of the company’s stock valued at $219,914,000 after acquiring an additional 650,000 shares in the last quarter. Boston Partners purchased a new stake in Constellation Brands during the 4th quarter valued at $156,358,000. International Assets Investment Management LLC increased its holdings in shares of Constellation Brands by 24,922.5% in the 4th quarter. International Assets Investment Management LLC now owns 567,010 shares of the company’s stock worth $137,075,000 after purchasing an additional 564,744 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Constellation Brands by 38.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,403,495 shares of the company’s stock worth $335,402,000 after purchasing an additional 388,390 shares during the last quarter. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Insider Transactions at Constellation Brands

In related news, EVP James A. Jr. Sabia sold 15,781 shares of Constellation Brands stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $263.63, for a total transaction of $4,160,345.03. Following the sale, the executive vice president now owns 20,910 shares of the company’s stock, valued at approximately $5,512,503.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Constellation Brands news, CEO William A. Newlands sold 25,000 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $261.54, for a total value of $6,538,500.00. Following the sale, the chief executive officer now owns 14,700 shares in the company, valued at approximately $3,844,638. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP James A. Jr. Sabia sold 15,781 shares of the 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 transaction, the executive vice president now directly owns 20,910 shares of the company’s stock, valued at approximately $5,512,503.30. The disclosure for this sale can be found here. Insiders sold a total of 48,031 shares of company stock valued at $12,582,321 over the last 90 days. Company insiders own 12.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Argus raised Constellation Brands from a “hold” rating to a “buy” rating and set a $306.00 price objective on the stock in a research report on Monday, April 15th. Evercore ISI lifted their price target on shares of Constellation Brands from $300.00 to $310.00 and gave the stock an “outperform” rating in a research note on Friday, April 12th. HSBC increased their price objective on shares of Constellation Brands from $290.00 to $300.00 and gave the company a “buy” rating in a research report on Friday, April 12th. Piper Sandler started coverage on shares of Constellation Brands in a research report on Friday, March 22nd. They issued an “overweight” rating and a $300.00 target price for the company. Finally, Jefferies Financial Group increased their price target on Constellation Brands from $292.00 to $314.00 and gave the company a “buy” rating in a report on Friday, April 12th. Three research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $298.37.

Constellation Brands Trading Up 0.3 %

Constellation Brands stock opened at $263.50 on Friday. 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 12-month low of $227.50 and a 12-month high of $274.87. The firm has a market capitalization of $48.22 billion, a price-to-earnings ratio of 28.09, a P/E/G ratio of 1.75 and a beta of 0.89. The firm has a 50 day moving average of $255.18 and a 200 day moving average of $252.70.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings data 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. Constellation Brands had a net margin of 16.13% and a return on equity of 23.06%. The firm had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.09 billion. During the same period in the prior year, the company posted $1.98 earnings per share. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. As a group, research analysts predict that Constellation Brands, Inc. will post 13.66 earnings per share for the current year.

Constellation Brands Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 17th. Stockholders of record on Friday, May 3rd were given a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 1.53%. This is an increase from Constellation Brands’s previous quarterly dividend of $0.89. The ex-dividend date of this dividend was Thursday, May 2nd. Constellation Brands’s payout ratio is presently 43.07%.

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.