Stablepoint Partners LLC Acquires 595 Shares of Constellation Brands, Inc. (NYSE:STZ)

Stablepoint Partners LLC boosted its holdings in Constellation Brands, Inc. (NYSE:STZ) by 13.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,055 shares of the company’s stock after buying an additional 595 shares during the period. Stablepoint Partners LLC’s holdings in Constellation Brands were worth $1,244,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. New Millennium Group LLC purchased a new position in shares of Constellation Brands in the second quarter valued at $25,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Constellation Brands during the 2nd quarter valued at about $29,000. Horizon Bancorp Inc. IN purchased a new position in Constellation Brands during the 2nd quarter valued at about $32,000. YHB Investment Advisors Inc. bought a new stake in shares of Constellation Brands during the first quarter valued at about $35,000. Finally, Kapitalo Investimentos Ltda purchased a new stake in shares of Constellation Brands in the fourth quarter worth about $35,000. Institutional investors own 77.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. BMO Capital Markets reaffirmed an “outperform” rating and set a $315.00 price objective on shares of Constellation Brands in a research note on Friday, July 5th. JPMorgan Chase & Co. reduced their price target on shares of Constellation Brands from $320.00 to $307.00 and set an “overweight” rating for the company in a research report on Tuesday. Truist Financial reiterated a “hold” rating and issued a $265.00 price objective on shares of Constellation Brands in a research report on Wednesday, July 3rd. Roth Mkm reduced their target price on Constellation Brands from $303.00 to $298.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, Jefferies Financial Group upped their target price on Constellation Brands from $310.00 to $311.00 and gave the stock a “buy” rating in a research note on Friday, July 5th. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, Constellation Brands has an average rating of “Moderate Buy” and a consensus price target of $298.26.

Constellation Brands Stock Up 0.7 %

STZ opened at $248.29 on Friday. Constellation Brands, Inc. has a 12 month low of $227.50 and a 12 month high of $274.87. The company has a current ratio of 1.19, a quick ratio of 0.53 and a debt-to-equity ratio of 1.06. The business’s 50-day moving average price is $246.51 and its 200-day moving average price is $253.62. The company has a market cap of $45.43 billion, a P/E ratio of 18.50, a P/E/G ratio of 1.59 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Wednesday, July 3rd. The company reported $3.57 EPS for the quarter, topping analysts’ consensus estimates of $3.46 by $0.11. Constellation Brands had a return on equity of 23.72% and a net margin of 22.70%. The business had revenue of $2.66 billion for the quarter, compared to analysts’ expectations of $2.67 billion. During the same period in the previous year, the firm earned $2.91 EPS. The business’s quarterly revenue was up 5.8% on a year-over-year basis. On average, equities analysts expect that Constellation Brands, Inc. will post 13.54 EPS for the current year.

Constellation Brands Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Wednesday, August 14th were issued a dividend of $1.01 per share. The ex-dividend date was Wednesday, August 14th. This represents a $4.04 dividend on an annualized basis and a yield of 1.63%. Constellation Brands’s dividend payout ratio is currently 30.10%.

Insider Activity at Constellation Brands

In other Constellation Brands news, EVP Kaneenat Kristann Carey sold 977 shares of the business’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $261.00, for a total value of $254,997.00. Following the transaction, the executive vice president now owns 2,706 shares in the company, valued at $706,266. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Daniel J. Mccarthy sold 1,854 shares of Constellation Brands stock in a transaction on Friday, July 26th. The shares were sold at an average price of $252.43, for a total value of $468,005.22. Following the sale, the director now owns 3,232 shares in the company, valued at $815,853.76. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Kaneenat Kristann Carey sold 977 shares of the business’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $261.00, for a total transaction of $254,997.00. Following the transaction, the executive vice president now directly owns 2,706 shares in the company, valued at $706,266. The disclosure for this sale can be found here. Insiders sold 16,414 shares of company stock worth $3,982,922 in the last three months. 12.19% of the stock is owned by 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.