Patton Albertson Miller Group LLC Boosts Stake in Constellation Brands, Inc. (NYSE:STZ)

Patton Albertson Miller Group LLC raised its holdings in Constellation Brands, Inc. (NYSE:STZ) by 7.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 25,960 shares of the company’s stock after acquiring an additional 1,702 shares during the period. Patton Albertson Miller Group LLC’s holdings in Constellation Brands were worth $5,737,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of STZ. State Street Corp raised its stake in Constellation Brands by 6.0% in the third quarter. State Street Corp now owns 7,144,428 shares of the company’s stock valued at $1,841,048,000 after purchasing an additional 402,211 shares in the last quarter. Janus Henderson Group PLC increased its holdings in shares of Constellation Brands by 1.2% in the 3rd quarter. Janus Henderson Group PLC now owns 1,853,081 shares of the company’s stock worth $477,515,000 after buying an additional 21,454 shares during the last quarter. Legal & General Group Plc raised its position in shares of Constellation Brands by 5.7% during the 2nd quarter. Legal & General Group Plc now owns 1,335,976 shares of the company’s stock valued at $343,717,000 after buying an additional 72,637 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Constellation Brands by 23,184.7% during the 3rd quarter. International Assets Investment Management LLC now owns 499,689 shares of the company’s stock worth $128,765,000 after acquiring an additional 497,543 shares during the last quarter. Finally, National Pension Service grew its position in Constellation Brands by 13.6% in the third quarter. National Pension Service now owns 381,755 shares of the company’s stock worth $98,374,000 after acquiring an additional 45,707 shares in the last quarter. Institutional investors own 77.34% of the company’s stock.

Insider Buying and Selling at Constellation Brands

In related news, Director William T. Giles acquired 1,000 shares of Constellation Brands stock in a transaction that occurred on Friday, January 17th. The stock was bought at an average price of $186.39 per share, with a total value of $186,390.00. Following the transaction, the director now directly owns 1,463 shares in the company, valued at approximately $272,688.57. This represents a 215.98 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO William A. Newlands sold 25,000 shares of Constellation Brands stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $243.58, for a total value of $6,089,500.00. Following the transaction, the chief executive officer now owns 7,274 shares of the company’s stock, valued at $1,771,800.92. The trade was a 77.46 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 69,172 shares of company stock valued at $16,778,841. 12.19% of the stock is currently owned by company insiders.

Constellation Brands Trading Up 1.9 %

Shares of STZ opened at $182.99 on Friday. Constellation Brands, Inc. has a 1-year low of $176.51 and a 1-year high of $274.87. The firm has a market capitalization of $33.07 billion, a price-to-earnings ratio of 49.19, a PEG ratio of 1.58 and a beta of 0.91. The firm’s 50-day moving average price is $221.02 and its 200-day moving average price is $236.43. The company has a current ratio of 1.10, a quick ratio of 0.46 and a debt-to-equity ratio of 1.26.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings data on Friday, January 10th. The company reported $3.25 earnings per share for the quarter, missing the consensus estimate of $3.33 by ($0.08). Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. The firm had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.53 billion. During the same period in the previous year, the firm posted $3.19 earnings per share. The business’s revenue was down .3% compared to the same quarter last year. Sell-side analysts anticipate that Constellation Brands, Inc. will post 13.52 EPS for the current year.

Constellation Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Friday, February 7th will be issued a $1.01 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $4.04 dividend on an annualized basis and a yield of 2.21%. Constellation Brands’s dividend payout ratio (DPR) is 108.60%.

Analyst Ratings Changes

A number of research firms have weighed in on STZ. Piper Sandler lowered their price target on Constellation Brands from $300.00 to $245.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. Bank of America reissued a “neutral” rating and set a $255.00 price objective (down from $300.00) on shares of Constellation Brands in a report on Monday, October 7th. Evercore ISI cut their target price on Constellation Brands from $300.00 to $250.00 and set an “outperform” rating for the company in a research note on Monday, January 13th. Argus downgraded shares of Constellation Brands from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Finally, Truist Financial lowered their price objective on shares of Constellation Brands from $255.00 to $190.00 and set a “hold” rating for the company in a report on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $259.05.

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.