Brighton Jones LLC Boosts Stock Position in Constellation Brands, Inc. (NYSE:STZ)

Brighton Jones LLC raised its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 13.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 935 shares of the company’s stock after buying an additional 108 shares during the quarter. Brighton Jones LLC’s holdings in Constellation Brands were worth $226,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Kestra Private Wealth Services LLC boosted its stake in Constellation Brands by 17.2% in the 3rd quarter. Kestra Private Wealth Services LLC now owns 17,218 shares of the company’s stock worth $4,327,000 after purchasing an additional 2,526 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake 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 worth $8,151,000 after buying an additional 4,311 shares in the last quarter. Perigon Wealth Management LLC lifted its stake in shares of Constellation Brands by 46.0% in the fourth quarter. Perigon Wealth Management LLC now owns 6,012 shares of the company’s stock worth $1,453,000 after buying an additional 1,893 shares in the last quarter. CoreCap Advisors LLC grew its holdings in shares of Constellation Brands by 35.8% during the fourth quarter. CoreCap Advisors LLC now owns 2,002 shares of the company’s stock valued at $484,000 after buying an additional 528 shares during the last quarter. Finally, Ascent Wealth Partners LLC bought a new stake in shares of Constellation Brands during the fourth quarter valued at approximately $962,000. 77.34% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on STZ shares. Deutsche Bank Aktiengesellschaft upped their price objective on Constellation Brands from $256.00 to $262.00 and gave the company a “hold” rating in a research report on Wednesday, April 10th. Argus raised Constellation Brands from a “hold” rating to a “buy” rating and set a $306.00 price objective on the stock in a research report on Monday, April 15th. Barclays lifted their price objective on Constellation Brands from $294.00 to $295.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Roth Mkm restated a “buy” rating and set a $305.00 target price on shares of Constellation Brands in a research note on Friday, April 12th. Finally, Royal Bank of Canada raised their price target on shares of Constellation Brands from $295.00 to $308.00 and gave the company an “outperform” rating in a report on Friday, April 12th. Three investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $298.55.

Constellation Brands Trading Up 0.8 %

Shares of Constellation Brands stock opened at $256.08 on Friday. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.19 and a quick ratio of 0.53. The stock has a market capitalization of $46.82 billion, a PE ratio of 27.30, a P/E/G ratio of 1.72 and a beta of 0.95. Constellation Brands, Inc. has a 1-year low of $221.81 and a 1-year high of $274.87. The company’s fifty day simple moving average is $260.65 and its 200-day simple moving average is $248.54.

Constellation Brands (NYSE:STZ) last released its earnings results on Thursday, April 11th. The company reported $2.26 earnings per share 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%. Constellation Brands’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.98 earnings per share. As a group, equities analysts anticipate that Constellation Brands, Inc. will post 13.51 earnings per share for the current year.

Constellation Brands Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Friday, May 3rd will be issued a $1.01 dividend. This represents a $4.04 annualized dividend and a yield of 1.58%. This is a positive change from Constellation Brands’s previous quarterly dividend of $0.89. The ex-dividend date of this dividend is Thursday, May 2nd. Constellation Brands’s dividend payout ratio is currently 37.95%.

Insiders Place Their Bets

In other Constellation Brands news, CEO William A. Newlands sold 4,013 shares of the company’s stock in a transaction that occurred on Friday, April 19th. The shares were sold at an average price of $263.25, for a total value of $1,056,422.25. Following the completion of the transaction, the chief executive officer now directly owns 5,395 shares in the company, valued at $1,420,233.75. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Constellation Brands news, CEO William A. Newlands sold 4,013 shares of the firm’s stock in a transaction dated Friday, April 19th. The stock was sold at an average price of $263.25, for a total transaction of $1,056,422.25. Following the sale, the chief executive officer now directly owns 5,395 shares of the company’s stock, valued at $1,420,233.75. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP James A. Jr. Sabia sold 15,781 shares of the business’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $263.63, for a total value of $4,160,345.03. Following the completion of the transaction, the executive vice president now owns 20,910 shares in the company, valued at $5,512,503.30. The disclosure for this sale can be found here. 16.19% of the stock is owned by company insiders.

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.