Constellation Brands, Inc. (NYSE:STZ) Shares Purchased by SteelPeak Wealth LLC

SteelPeak Wealth LLC grew its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 1.4% in the 1st quarter, Holdings Channel.com reports. The fund owned 4,501 shares of the company’s stock after purchasing an additional 61 shares during the quarter. SteelPeak Wealth LLC’s holdings in Constellation Brands were worth $1,223,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. BKM Wealth Management LLC bought a new stake in Constellation Brands in the fourth quarter valued at about $28,000. Kapitalo Investimentos Ltda acquired a new stake in shares of Constellation Brands during the fourth quarter worth $35,000. First Financial Corp IN acquired a new stake in Constellation Brands during the first quarter worth about $35,000. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Constellation Brands during the 4th quarter worth approximately $37,000. Finally, Exchange Traded Concepts LLC bought a new stake in Constellation Brands in the fourth quarter valued at $45,000. Institutional investors own 77.34% of the company’s stock.

Constellation Brands Price Performance

NYSE STZ opened at $257.28 on Monday. The stock has a market capitalization of $47.08 billion, a P/E ratio of 27.43, a P/E/G ratio of 1.71 and a beta of 0.87. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.53 and a current ratio of 1.19. The business’s fifty day moving average is $255.34 and its two-hundred day moving average is $253.76. Constellation Brands, Inc. has a 1 year low of $227.50 and a 1 year high of $274.87.

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 analysts’ consensus estimates of $2.10 by $0.16. Constellation Brands had a return on equity of 23.06% and a net margin of 16.13%. The company had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.09 billion. During the same period in the previous year, the firm earned $1.98 earnings per share. Constellation Brands’s revenue for the quarter was up 7.1% compared to the same quarter last year. On average, research analysts forecast that Constellation Brands, Inc. will post 13.67 earnings per share for the current fiscal year.

Constellation Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 17th. Shareholders of record on Friday, May 3rd were paid a dividend of $1.01 per share. The ex-dividend date was Thursday, May 2nd. This is a positive change from Constellation Brands’s previous quarterly dividend of $0.89. This represents a $4.04 dividend on an annualized basis and a yield of 1.57%. Constellation Brands’s dividend payout ratio is currently 43.07%.

Analyst Ratings Changes

Several research analysts have commented on STZ shares. Bank of America upped their target price on shares of Constellation Brands from $290.00 to $300.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Argus upgraded Constellation Brands from a “hold” rating to a “buy” rating and set a $306.00 target price on the stock in a research report on Monday, April 15th. UBS Group reduced their price target on Constellation Brands from $320.00 to $315.00 and set a “buy” rating for the company in a research report on Thursday, June 20th. Deutsche Bank Aktiengesellschaft raised their price target on Constellation Brands from $256.00 to $262.00 and gave the company a “hold” rating in a report on Wednesday, April 10th. Finally, Barclays reduced their price objective on shares of Constellation Brands from $295.00 to $288.00 and set an “overweight” rating for the company in a report on Wednesday, May 29th. Three research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $298.37.

Insiders Place Their Bets

In other news, EVP Michael Mcgrew sold 3,237 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $255.50, for a total transaction of $827,053.50. Following the sale, the executive vice president now owns 1,731 shares in the company, valued at $442,270.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Constellation Brands news, EVP James A. Jr. Sabia sold 15,781 shares of the firm’s stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 20,910 shares in the company, valued at approximately $5,512,503.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Michael Mcgrew sold 3,237 shares of Constellation Brands 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 transaction, the executive vice president now directly owns 1,731 shares in the company, valued at approximately $442,270.50. The disclosure for this sale can be found here. Insiders sold a total of 48,031 shares of company stock worth $12,582,321 over the last ninety days. 12.19% of the stock is currently owned by company 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.