Oak Asset Management LLC Acquires 255 Shares of Constellation Brands, Inc. (NYSE:STZ)

Oak Asset Management LLC lifted its stake in Constellation Brands, Inc. (NYSE:STZ) by 1.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,842 shares of the company’s stock after purchasing an additional 255 shares during the quarter. Constellation Brands comprises approximately 1.7% of Oak Asset Management LLC’s holdings, making the stock its 17th largest position. Oak Asset Management LLC’s holdings in Constellation Brands were worth $4,577,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in STZ. BKM Wealth Management LLC bought a new position in shares of Constellation Brands during the fourth quarter valued at $28,000. Kapitalo Investimentos Ltda purchased a new position in Constellation Brands in the fourth quarter worth about $35,000. First Financial Corp IN purchased a new position in Constellation Brands in the first quarter worth about $35,000. Turtle Creek Wealth Advisors LLC bought a new position in shares of Constellation Brands in the fourth quarter worth approximately $37,000. Finally, Exchange Traded Concepts LLC bought a new stake in shares of Constellation Brands during the fourth quarter valued at approximately $45,000. Institutional investors own 77.34% of the company’s stock.

Constellation Brands Stock Performance

Shares of NYSE STZ opened at $257.28 on Monday. The stock has a market cap of $47.08 billion, a PE ratio of 27.43, a price-to-earnings-growth ratio of 1.71 and a beta of 0.87. Constellation Brands, Inc. has a 1 year low of $227.50 and a 1 year high of $274.87. The firm has a fifty day moving average price of $255.34 and a 200-day moving average price of $253.76. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.19 and a quick ratio of 0.53.

Constellation Brands (NYSE:STZ) last issued 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. Constellation Brands had a return on equity of 23.06% and a net margin of 16.13%. The business had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.09 billion. During the same quarter in the prior year, the business posted $1.98 EPS. Constellation Brands’s revenue for the quarter was up 7.1% compared to the same quarter last year. Equities analysts anticipate that Constellation Brands, Inc. will post 13.67 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. Investors of record on Friday, May 3rd were paid a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 1.57%. The ex-dividend date was Thursday, May 2nd. This is an increase from Constellation Brands’s previous quarterly dividend of $0.89. Constellation Brands’s dividend payout ratio (DPR) is 43.07%.

Wall Street Analysts Forecast Growth

STZ has been the topic of several recent analyst reports. Roth Mkm reaffirmed a “buy” rating and set a $305.00 price objective on shares of Constellation Brands in a research report on Friday, April 12th. Piper Sandler assumed coverage on shares of Constellation Brands in a report on Friday, March 22nd. They issued an “overweight” rating and a $300.00 target price on the stock. Wedbush reiterated an “outperform” rating and set a $300.00 target price on shares of Constellation Brands in a research note on Wednesday, April 10th. UBS Group dropped their price target on Constellation Brands from $320.00 to $315.00 and set a “buy” rating on the stock in a research note on Thursday, June 20th. Finally, Jefferies Financial Group upped their price objective on Constellation Brands from $292.00 to $314.00 and gave the company a “buy” rating in a research report on Friday, April 12th. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $298.37.

Insider Buying and Selling

In other news, CEO William A. Newlands sold 25,000 shares of Constellation Brands stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $261.54, for a total transaction of $6,538,500.00. Following the sale, the chief executive officer now owns 14,700 shares in the company, valued at $3,844,638. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO William A. Newlands sold 25,000 shares of the firm’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $261.54, for a total transaction of $6,538,500.00. Following the completion of the transaction, the chief executive officer now owns 14,700 shares in the company, valued at $3,844,638. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP James A. Jr. Sabia sold 15,781 shares of Constellation Brands stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $263.63, for a total value 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 $5,512,503.30. The disclosure for this sale can be found here. In the last three months, insiders have sold 48,031 shares of company stock valued at $12,582,321. Corporate insiders own 12.19% of the company’s stock.

Constellation Brands Company 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.