Millstone Evans Group LLC Takes $110,000 Position in Constellation Brands, Inc. (NYSE:STZ)

Millstone Evans Group LLC purchased a new stake in shares of Constellation Brands, Inc. (NYSE:STZ) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 500 shares of the company’s stock, valued at approximately $110,000.

A number of other large investors have also made changes to their positions in the company. iA Global Asset Management Inc. raised its holdings in shares of Constellation Brands by 331.4% during the fourth quarter. iA Global Asset Management Inc. now owns 10,401 shares of the company’s stock valued at $2,299,000 after acquiring an additional 7,990 shares during the period. Magnetar Financial LLC acquired a new position in Constellation Brands in the 4th quarter valued at approximately $1,018,000. Teacher Retirement System of Texas increased its stake in Constellation Brands by 777.6% in the 4th quarter. Teacher Retirement System of Texas now owns 9,636 shares of the company’s stock valued at $2,130,000 after buying an additional 8,538 shares during the period. Royal London Asset Management Ltd. increased its stake in Constellation Brands by 2.7% in the 4th quarter. Royal London Asset Management Ltd. now owns 70,954 shares of the company’s stock valued at $15,681,000 after buying an additional 1,854 shares during the period. Finally, Saiph Capital LLC increased its stake in Constellation Brands by 21.6% in the 4th quarter. Saiph Capital LLC now owns 1,915 shares of the company’s stock valued at $423,000 after buying an additional 340 shares during the period. Institutional investors and hedge funds own 77.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on STZ shares. Jefferies Financial Group reiterated a “hold” rating and issued a $201.00 price objective (down previously from $310.00) on shares of Constellation Brands in a research note on Monday, January 13th. Roth Capital dropped their price objective on shares of Constellation Brands from $298.00 to $284.00 and set a “buy” rating on the stock in a research note on Friday, January 17th. Piper Sandler lowered shares of Constellation Brands from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $245.00 to $200.00 in a research note on Monday, February 3rd. Argus lowered shares of Constellation Brands from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Finally, Evercore ISI dropped their price target on shares of Constellation Brands from $300.00 to $250.00 and set an “outperform” rating on the stock in a research note on Monday, January 13th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $250.41.

Insider Transactions at Constellation Brands

In other Constellation Brands news, Director William T. Giles acquired 1,000 shares of Constellation Brands stock in a transaction dated Friday, January 17th. The stock was bought at an average cost of $186.39 per share, with a total value of $186,390.00. Following the acquisition, the director now owns 1,463 shares of the company’s stock, valued at approximately $272,688.57. The trade was a 215.98 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 12.19% of the stock is owned by insiders.

Constellation Brands Price Performance

Shares of Constellation Brands stock opened at $177.73 on Friday. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.10 and a quick ratio of 0.46. Constellation Brands, Inc. has a fifty-two week low of $160.46 and a fifty-two week high of $274.87. The firm has a fifty day moving average price of $177.32 and a two-hundred day moving average price of $217.08. The company has a market cap of $32.12 billion, a PE ratio of 47.78, a price-to-earnings-growth ratio of 1.52 and a beta of 0.90.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings results on Friday, January 10th. The company reported $3.25 earnings per share for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.08). The company had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.53 billion. Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. Constellation Brands’s revenue for the quarter was down .3% on a year-over-year basis. During the same period last year, the company earned $3.19 earnings per share. Analysts expect that Constellation Brands, Inc. will post 13.5 EPS for the current year.

Constellation Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 7th were issued a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date of this dividend was Friday, February 7th. Constellation Brands’s payout ratio is 108.60%.

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.