Allspring Global Investments Holdings LLC Has $4.35 Million Holdings in Constellation Brands, Inc. (NYSE:STZ)

Allspring Global Investments Holdings LLC decreased its stake in Constellation Brands, Inc. (NYSE:STZ) by 78.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,987 shares of the company’s stock after selling 59,627 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Constellation Brands were worth $4,345,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in STZ. Aviance Capital Partners LLC raised its stake in Constellation Brands by 0.7% during the 1st quarter. Aviance Capital Partners LLC now owns 16,343 shares of the company’s stock worth $4,441,000 after buying an additional 116 shares during the period. Mirador Capital Partners LP grew its position in shares of Constellation Brands by 17.8% in the 1st quarter. Mirador Capital Partners LP now owns 4,532 shares of the company’s stock valued at $1,232,000 after purchasing an additional 685 shares during the period. Oak Asset Management LLC increased its stake in Constellation Brands by 1.5% during the 1st quarter. Oak Asset Management LLC now owns 16,842 shares of the company’s stock worth $4,577,000 after purchasing an additional 255 shares in the last quarter. SteelPeak Wealth LLC raised its holdings in Constellation Brands by 1.4% during the 1st quarter. SteelPeak Wealth LLC now owns 4,501 shares of the company’s stock worth $1,223,000 after buying an additional 61 shares during the period. Finally, Blue Zone Wealth Advisors LLC raised its holdings in Constellation Brands by 0.8% during the 1st quarter. Blue Zone Wealth Advisors LLC now owns 19,736 shares of the company’s stock worth $5,363,000 after buying an additional 154 shares during the period. Institutional investors own 77.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Roth Mkm restated a “buy” rating and set a $305.00 price objective on shares of Constellation Brands in a report on Friday, April 12th. BMO Capital Markets upped their price objective on Constellation Brands from $290.00 to $315.00 and gave the stock an “outperform” rating in a research report on Friday, April 12th. Deutsche Bank Aktiengesellschaft boosted their target price on Constellation Brands from $256.00 to $262.00 and gave the company a “hold” rating in a research note on Wednesday, April 10th. Jefferies Financial Group raised their price target on shares of Constellation Brands from $292.00 to $314.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. Finally, Argus upgraded shares of Constellation Brands from a “hold” rating to a “buy” rating and set a $306.00 target price for the company in a report on Monday, April 15th. Three analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $298.37.

Constellation Brands Stock Performance

Shares of STZ stock traded down $1.05 during midday trading on Tuesday, hitting $255.24. 149,267 shares of the company were exchanged, compared to its average volume of 1,179,747. The firm has a market capitalization of $46.70 billion, a P/E ratio of 27.32, a PEG 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. Constellation Brands, Inc. has a 52 week low of $227.50 and a 52 week high of $274.87. The firm’s 50 day moving average price is $255.34 and its two-hundred day moving average price is $253.76.

Constellation Brands (NYSE:STZ) last posted its earnings results on Thursday, April 11th. The company reported $2.26 EPS for the quarter, beating the consensus estimate of $2.10 by $0.16. The company had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.09 billion. Constellation Brands had a return on equity of 23.06% and a net margin of 16.13%. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.98 earnings per share. As a group, equities research analysts anticipate that Constellation Brands, Inc. will post 13.67 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. Shareholders of record on Friday, May 3rd were paid a $1.01 dividend. This is a boost from Constellation Brands’s previous quarterly dividend of $0.89. The ex-dividend date was Thursday, May 2nd. This represents a $4.04 annualized dividend and a yield of 1.58%. Constellation Brands’s payout ratio is 43.07%.

Insider Buying and Selling at Constellation Brands

In other Constellation Brands news, CEO William A. Newlands sold 25,000 shares of the firm’s stock in a transaction on 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 transaction, the chief executive officer now owns 14,700 shares in the company, valued at approximately $3,844,638. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, EVP Michael Mcgrew sold 3,237 shares of the business’s stock in a transaction 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 completion of the transaction, the executive vice president now owns 1,731 shares of the company’s stock, valued at approximately $442,270.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO William A. Newlands sold 25,000 shares of the company’s stock in a transaction on Friday, May 10th. The stock was 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 of the company’s stock, valued at $3,844,638. The disclosure for this sale can be found here. Insiders sold 48,031 shares of company stock valued at $12,582,321 in the last quarter. Company 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.