Brookstone Capital Management Has $3.81 Million Holdings in Constellation Brands, Inc. (NYSE:STZ)

Brookstone Capital Management raised its stake in Constellation Brands, Inc. (NYSE:STZ) by 2.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,026 shares of the company’s stock after acquiring an additional 312 shares during the quarter. Brookstone Capital Management’s holdings in Constellation Brands were worth $3,812,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Benin Management CORP acquired a new stake in Constellation Brands in the 1st quarter valued at about $206,000. RMR Wealth Builders acquired a new stake in shares of Constellation Brands during the 1st quarter worth approximately $241,000. Atlas Capital Advisors LLC grew its position in shares of Constellation Brands by 36.0% during the 1st quarter. Atlas Capital Advisors LLC now owns 2,268 shares of the company’s stock worth $616,000 after buying an additional 600 shares during the period. Prentice Wealth Management LLC grew its position in shares of Constellation Brands by 4.0% during the 1st quarter. Prentice Wealth Management LLC now owns 3,600 shares of the company’s stock worth $978,000 after buying an additional 139 shares during the period. Finally, First Financial Corp IN acquired a new stake in shares of Constellation Brands during the 1st quarter worth approximately $35,000. Institutional investors and hedge funds own 77.34% of the company’s stock.

Analyst Upgrades and Downgrades

STZ has been the subject of several analyst reports. Piper Sandler initiated coverage on shares of Constellation Brands in a research report on Friday, March 22nd. They set an “overweight” rating and a $300.00 price target for the company. Royal Bank of Canada reiterated an “outperform” rating and set a $308.00 price target on shares of Constellation Brands in a research report on Tuesday, May 28th. Wedbush reiterated an “outperform” rating and set a $300.00 price target on shares of Constellation Brands in a research report on Wednesday, April 10th. Barclays reduced their price objective on shares of Constellation Brands from $295.00 to $288.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 29th. Finally, UBS Group reduced their price objective on shares of Constellation Brands from $320.00 to $315.00 and set a “buy” rating on the stock in a research note on Thursday, June 20th. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Constellation Brands has a consensus rating of “Moderate Buy” and an average target price of $298.37.

Insider Transactions at Constellation Brands

In other news, EVP Michael Mcgrew sold 3,237 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $255.50, for a total value of $827,053.50. Following the sale, the executive vice president now owns 1,731 shares of the company’s stock, valued at $442,270.50. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CEO William A. Newlands sold 25,000 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $261.54, for a total transaction of $6,538,500.00. Following the transaction, the chief executive officer now directly owns 14,700 shares in the company, valued at $3,844,638. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Michael Mcgrew sold 3,237 shares of the business’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $255.50, for a total transaction of $827,053.50. Following the transaction, the executive vice president now owns 1,731 shares in the company, valued at $442,270.50. The disclosure for this sale can be found here. Insiders have sold a total of 48,031 shares of company stock valued at $12,582,321 over the last 90 days. 12.19% of the stock is owned by corporate insiders.

Constellation Brands Stock Performance

Shares of STZ opened at $255.91 on Friday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.53 and a current ratio of 1.19. Constellation Brands, Inc. has a twelve month low of $227.50 and a twelve month high of $274.87. The firm’s 50 day moving average price is $255.46 and its two-hundred day moving average price is $253.39. The firm has a market cap of $46.83 billion, a P/E ratio of 27.28, a PEG ratio of 1.74 and a beta of 0.89.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings data on Thursday, April 11th. The company reported $2.26 EPS for the quarter, topping analysts’ consensus estimates of $2.10 by $0.16. The business had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.09 billion. Constellation Brands had a net margin of 16.13% and a return on equity of 23.06%. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.98 earnings per share. On average, analysts forecast that Constellation Brands, Inc. will post 13.67 EPS for the current fiscal year.

Constellation Brands Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 17th. Stockholders of record on Friday, May 3rd were given a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date was Thursday, May 2nd. This is a positive change from Constellation Brands’s previous quarterly dividend of $0.89. Constellation Brands’s payout ratio is currently 43.07%.

Constellation Brands Company Profile

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.