CVA Family Office LLC Purchases Shares of 245 Constellation Brands, Inc. (NYSE:STZ)

CVA Family Office LLC purchased a new stake in shares of Constellation Brands, Inc. (NYSE:STZ) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 245 shares of the company’s stock, valued at approximately $59,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Kestra Private Wealth Services LLC grew its holdings in Constellation Brands by 17.2% during the third quarter. Kestra Private Wealth Services LLC now owns 17,218 shares of the company’s stock valued at $4,327,000 after purchasing an additional 2,526 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Constellation Brands by 15.3% in the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 32,433 shares of the company’s stock valued at $8,151,000 after acquiring an additional 4,311 shares during the period. CoreCap Advisors LLC boosted its position in shares of Constellation Brands by 35.8% in the fourth quarter. CoreCap Advisors LLC now owns 2,002 shares of the company’s stock valued at $484,000 after acquiring an additional 528 shares during the period. Teza Capital Management LLC bought a new position in Constellation Brands in the third quarter worth $7,768,000. Finally, Nordea Investment Management AB lifted its position in Constellation Brands by 6.7% in the fourth quarter. Nordea Investment Management AB now owns 8,040 shares of the company’s stock worth $1,945,000 after purchasing an additional 507 shares during the period. Institutional investors and hedge funds own 77.34% of the company’s stock.

Constellation Brands Trading Up 1.0 %

NYSE STZ opened at $272.07 on Thursday. Constellation Brands, Inc. has a 52 week low of $217.05 and a 52 week high of $273.65. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.46 and a current ratio of 1.05. The stock’s 50 day moving average price is $252.62 and its two-hundred day moving average price is $246.18. The stock has a market capitalization of $49.74 billion, a price-to-earnings ratio of 32.19, a PEG ratio of 1.88 and a beta of 0.96.

Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Friday, January 5th. The company reported $3.19 earnings per share for the quarter, topping analysts’ consensus estimates of $3.03 by $0.16. Constellation Brands had a return on equity of 23.35% and a net margin of 14.76%. The firm had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.54 billion. During the same quarter in the prior year, the firm posted $2.83 EPS. The business’s revenue was up 1.4% on a year-over-year basis. As a group, analysts anticipate that Constellation Brands, Inc. will post 11.92 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 22nd. Stockholders of record on Thursday, February 8th were paid a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date of this dividend was Wednesday, February 7th. Constellation Brands’s dividend payout ratio is currently 42.13%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on STZ shares. Royal Bank of Canada reiterated an “outperform” rating and set a $295.00 price objective on shares of Constellation Brands in a research note on Thursday, March 7th. Piper Sandler initiated coverage on Constellation Brands in a research note on Friday, March 22nd. They issued an “overweight” rating and a $300.00 target price for the company. JPMorgan Chase & Co. lowered their target price on Constellation Brands from $309.00 to $301.00 and set an “overweight” rating for the company in a research note on Thursday, December 21st. Argus lowered Constellation Brands from a “buy” rating to a “hold” rating in a research report on Wednesday, January 10th. Finally, Bank of America lifted their price objective on Constellation Brands from $290.00 to $300.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Four equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $290.37.

Insider Transactions at Constellation Brands

In other news, major shareholder Family Foundation Sands sold 354,616 shares of the company’s stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $250.26, for a total transaction of $88,746,200.16. Following the sale, the insider now owns 54,461 shares in the company, valued at approximately $13,629,409.86. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 16.19% 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 Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Victoria, Vicky Chamoy, and Pacifico brands.