Havemeyer Place LP bought a new stake in shares of Constellation Brands Inc (NYSE:STZ – Free Report) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 4,822 shares of the company’s stock, valued at approximately $665,000.
Other hedge funds also recently bought and sold shares of the company. Stance Capital LLC purchased a new stake in Constellation Brands in the 3rd quarter worth $26,000. GoalVest Advisory LLC purchased a new position in shares of Constellation Brands in the fourth quarter valued at about $28,000. Elyxium Wealth LLC purchased a new position in shares of Constellation Brands in the fourth quarter valued at about $33,000. Mowery & Schoenfeld Wealth Management LLC bought a new position in shares of Constellation Brands in the fourth quarter worth about $39,000. Finally, Bruce G. Allen Investments LLC boosted its stake in shares of Constellation Brands by 74.9% in the fourth quarter. Bruce G. Allen Investments LLC now owns 306 shares of the company’s stock worth $42,000 after acquiring an additional 131 shares during the period. Institutional investors own 77.34% of the company’s stock.
Constellation Brands Price Performance
Shares of Constellation Brands stock opened at $140.87 on Tuesday. The firm has a market cap of $24.26 billion, a PE ratio of 14.69, a PEG ratio of 3.26 and a beta of 0.39. The stock has a 50 day moving average of $150.50 and a 200 day moving average of $149.61. The company has a current ratio of 1.08, a quick ratio of 0.55 and a debt-to-equity ratio of 1.16. Constellation Brands Inc has a 12 month low of $126.45 and a 12 month high of $178.13.
Constellation Brands Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Wednesday, April 29th were given a $1.03 dividend. This is a boost from Constellation Brands’s previous quarterly dividend of $1.02. This represents a $4.12 annualized dividend and a yield of 2.9%. The ex-dividend date was Wednesday, April 29th. Constellation Brands’s dividend payout ratio (DPR) is presently 42.96%.
Analyst Upgrades and Downgrades
Several analysts recently issued reports on the company. Piper Sandler lifted their target price on Constellation Brands from $146.00 to $160.00 and gave the company a “neutral” rating in a research note on Friday, April 10th. TD Cowen raised shares of Constellation Brands from a “hold” rating to a “buy” rating and increased their price objective for the company from $142.00 to $190.00 in a report on Monday, April 13th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Constellation Brands from $154.00 to $155.00 and gave the company a “hold” rating in a research report on Friday, April 10th. Bank of America lowered their target price on shares of Constellation Brands from $154.00 to $152.00 and set an “underperform” rating on the stock in a report on Thursday, May 28th. Finally, Evercore set a $175.00 target price on shares of Constellation Brands and gave the stock an “outperform” rating in a research report on Friday, April 10th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $175.26.
Check Out Our Latest Research Report on Constellation Brands
Insider Transactions at Constellation Brands
In related news, EVP James O. Bourdeau sold 4,407 shares of the company’s stock in a transaction on 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 represents a 32.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 12.45% of the stock is currently owned by insiders.
About Constellation Brands
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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