LSV Asset Management grew its stake in Constellation Brands Inc (NYSE:STZ – Free Report) by 102.0% in the 4th quarter, Holdings Channel reports. The firm owned 495,180 shares of the company’s stock after purchasing an additional 250,000 shares during the period. LSV Asset Management’s holdings in Constellation Brands were worth $68,315,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in STZ. Brighton Jones LLC raised its holdings in Constellation Brands by 23.0% in the 4th quarter. Brighton Jones LLC now owns 1,001 shares of the company’s stock worth $221,000 after purchasing an additional 187 shares in the last quarter. Woodline Partners LP bought a new position in Constellation Brands in the 1st quarter worth $2,409,000. Cary Street Partners Financial LLC raised its holdings in Constellation Brands by 69.9% in the 2nd quarter. Cary Street Partners Financial LLC now owns 1,026 shares of the company’s stock worth $167,000 after purchasing an additional 422 shares in the last quarter. Bank of Nova Scotia increased its stake in shares of Constellation Brands by 3.6% in the 2nd quarter. Bank of Nova Scotia now owns 17,347 shares of the company’s stock worth $2,822,000 after acquiring an additional 599 shares in the last quarter. Finally, Daiwa Securities Group Inc. increased its stake in shares of Constellation Brands by 5.0% in the 2nd quarter. Daiwa Securities Group Inc. now owns 23,732 shares of the company’s stock worth $3,861,000 after acquiring an additional 1,127 shares in the last quarter. 77.34% of the stock is currently owned by institutional investors.
Constellation Brands Stock Down 0.9%
NYSE:STZ opened at $149.50 on Friday. The firm has a market cap of $25.74 billion, a P/E ratio of 15.59, a P/E/G ratio of 3.28 and a beta of 0.43. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.55 and a current ratio of 1.08. Constellation Brands Inc has a fifty-two week low of $126.45 and a fifty-two week high of $186.40. The firm has a 50-day simple moving average of $152.73 and a two-hundred day simple moving average of $148.61.
Constellation Brands Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Wednesday, April 29th were paid a dividend of $1.03 per share. The ex-dividend date was Wednesday, April 29th. This represents a $4.12 dividend on an annualized basis and a yield of 2.8%. This is an increase from Constellation Brands’s previous quarterly dividend of $1.02. Constellation Brands’s dividend payout ratio (DPR) is 42.96%.
Wall Street Analysts Forecast Growth
Several research analysts recently issued reports on STZ shares. Deutsche Bank Aktiengesellschaft increased their price target on shares of Constellation Brands from $154.00 to $155.00 and gave the stock a “hold” rating in a research note on Friday, April 10th. Morgan Stanley increased their price target on shares of Constellation Brands from $160.00 to $183.00 and gave the stock an “equal weight” rating in a research note on Friday, April 10th. UBS Group increased their price target on shares of Constellation Brands from $176.00 to $186.00 and gave the stock a “buy” rating in a research note on Friday, April 10th. Roth Mkm reiterated a “buy” rating on shares of Constellation Brands in a research note on Thursday, April 9th. Finally, Piper Sandler increased their price target on shares of Constellation Brands from $146.00 to $160.00 and gave the stock a “neutral” rating in a research note on Friday, April 10th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Constellation Brands has a consensus rating of “Moderate Buy” and an average target price of $175.37.
Read Our Latest Report on Constellation Brands
Insiders Place Their Bets
In other news, EVP James O. Bourdeau sold 4,407 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $143.24, for a total transaction of $631,258.68. Following the sale, the executive vice president owned 9,109 shares of the company’s stock, valued at $1,304,773.16. This trade represents a 32.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 12.45% of the company’s stock.
Constellation Brands Company Profile
Constellation Brands, Inc is a leading producer and marketer of beer, wine and spirits, with operations spanning production, importation, marketing and distribution. The company’s beverage portfolio includes a range of premium and mainstream wines and spirits alongside major imported beer brands; in the U.S. market Constellation is widely known for its role in bringing Mexican imports such as Corona and Modelo to American consumers. Constellation supplies retail, on‑premise and foodservice channels and supports its brands with national sales and marketing platforms and supply‑chain capabilities.
The company traces its roots to the Canandaigua Wine Company, founded by Marvin Sands in 1945, and evolved through organic growth and acquisition into a diversified beverage company.
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