4,368 Shares in Constellation Brands, Inc. (NYSE:STZ) Acquired by Synergy Asset Management LLC

Synergy Asset Management LLC purchased a new stake in shares of Constellation Brands, Inc. (NYSE:STZFree Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 4,368 shares of the company’s stock, valued at approximately $1,056,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in STZ. Prudential PLC bought a new stake in shares of Constellation Brands during the 1st quarter worth $705,000. Cetera Investment Advisers boosted its stake in shares of Constellation Brands by 1.0% during the 1st quarter. Cetera Investment Advisers now owns 17,026 shares of the company’s stock worth $3,921,000 after acquiring an additional 163 shares in the last quarter. Sequoia Financial Advisors LLC lifted its holdings in shares of Constellation Brands by 17.6% in the first quarter. Sequoia Financial Advisors LLC now owns 3,149 shares of the company’s stock valued at $725,000 after purchasing an additional 471 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Constellation Brands by 2.6% in the first quarter. Vanguard Group Inc. now owns 12,601,280 shares of the company’s stock valued at $2,902,327,000 after purchasing an additional 313,344 shares in the last quarter. Finally, Ergoteles LLC purchased a new stake in shares of Constellation Brands in the first quarter valued at $257,000. 77.34% of the stock is owned by institutional investors.

Insider Activity

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 value of $88,746,200.16. Following the sale, the insider now directly owns 54,461 shares in the company, valued at approximately $13,629,409.86. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 16.19% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on STZ. Piper Sandler began coverage on Constellation Brands in a report on Friday, March 22nd. They issued an “overweight” rating and a $300.00 target price for the company. Royal Bank of Canada reiterated an “outperform” rating and set a $295.00 price objective on shares of Constellation Brands in a report on Thursday, March 7th. Bank of America increased their price objective on Constellation Brands from $290.00 to $300.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Evercore ISI reiterated an “outperform” rating and set a $300.00 price objective on shares of Constellation Brands in a report on Wednesday. Finally, JPMorgan Chase & Co. cut their price objective on Constellation Brands from $309.00 to $301.00 and set an “overweight” rating for the company in a report on Thursday, December 21st. Four equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $290.37.

Check Out Our Latest Report on Constellation Brands

Constellation Brands Trading Down 0.1 %

Shares of STZ opened at $271.76 on Friday. Constellation Brands, Inc. has a 12-month low of $217.05 and a 12-month high of $273.65. The company has a quick ratio of 0.46, a current ratio of 1.05 and a debt-to-equity ratio of 1.05. The firm has a market capitalization of $49.68 billion, a price-to-earnings ratio of 32.16, a P/E/G ratio of 1.89 and a beta of 0.96. The stock’s 50-day moving average price is $253.72 and its 200 day moving average price is $246.62.

Constellation Brands (NYSE:STZGet Free Report) last issued its quarterly earnings results on Friday, January 5th. The company reported $3.19 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $2.54 billion. During the same period in the previous year, the company posted $2.83 earnings per share. The company’s quarterly revenue was up 1.4% compared to the same quarter last year. As a group, research analysts predict that Constellation Brands, Inc. will post 11.92 earnings per share for the current 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 $0.89 dividend. The ex-dividend date of this dividend was Wednesday, February 7th. This represents a $3.56 annualized dividend and a dividend yield of 1.31%. Constellation Brands’s dividend payout ratio is currently 42.13%.

Constellation Brands Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Constellation Brands (NYSE:STZ)

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