Oak Asset Management LLC Acquires 255 Shares of Constellation Brands, Inc. (NYSE:STZ)

Oak Asset Management LLC boosted its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 1.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,842 shares of the company’s stock after acquiring an additional 255 shares during the quarter. Constellation Brands accounts for about 1.7% of Oak Asset Management LLC’s portfolio, making the stock its 17th largest position. Oak Asset Management LLC’s holdings in Constellation Brands were worth $4,577,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Constellation Brands during the 4th quarter worth about $443,844,000. Darsana Capital Partners LP lifted its position in shares of Constellation Brands by 288.9% in the 3rd quarter. Darsana Capital Partners LP now owns 875,000 shares of the company’s stock worth $219,914,000 after purchasing an additional 650,000 shares during the period. Boston Partners bought a new position in Constellation Brands during the fourth quarter worth $156,358,000. International Assets Investment Management LLC lifted its holdings in Constellation Brands by 24,922.5% in the fourth quarter. International Assets Investment Management LLC now owns 567,010 shares of the company’s stock valued at $137,075,000 after buying an additional 564,744 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in Constellation Brands by 38.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,403,495 shares of the company’s stock valued at $335,402,000 after acquiring an additional 388,390 shares during the last quarter. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Constellation Brands

In related news, CEO William A. Newlands sold 4,013 shares of the company’s stock in a transaction that occurred on Friday, April 19th. The stock was sold at an average price of $263.25, for a total value of $1,056,422.25. Following the transaction, the chief executive officer now 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 available through the SEC website. In other Constellation Brands news, CEO William A. Newlands sold 4,013 shares of the company’s stock in a transaction dated Friday, April 19th. The shares were 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 the SEC website. Also, CEO William A. Newlands sold 25,000 shares of Constellation Brands stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $261.54, for a total transaction of $6,538,500.00. Following the completion of the transaction, the chief executive officer now owns 14,700 shares of the company’s stock, valued at approximately $3,844,638. The disclosure for this sale can be found here. Insiders sold 48,031 shares of company stock worth $12,582,321 in the last quarter. 12.19% of the stock is currently owned by company insiders.

Constellation Brands Stock Performance

NYSE STZ opened at $257.28 on Monday. The company has a fifty day moving average price of $255.34 and a 200-day moving average price of $253.76. The firm has a market cap of $47.08 billion, a price-to-earnings ratio of 27.43, a PEG ratio of 1.71 and a beta of 0.87. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.19 and a quick ratio of 0.53. Constellation Brands, Inc. has a 1 year low of $227.50 and a 1 year high of $274.87.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings data on Thursday, April 11th. The company reported $2.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.10 by $0.16. Constellation Brands had a net margin of 16.13% and a return on equity of 23.06%. The business had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.09 billion. During the same period in the prior year, the firm posted $1.98 EPS. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. As a group, equities research analysts predict 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. Shareholders of record on Friday, May 3rd were given a $1.01 dividend. The ex-dividend date was Thursday, May 2nd. This represents a $4.04 annualized dividend and a yield of 1.57%. This is a boost from Constellation Brands’s previous quarterly dividend of $0.89. Constellation Brands’s payout ratio is currently 43.07%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on STZ shares. Deutsche Bank Aktiengesellschaft boosted their price objective on Constellation Brands from $256.00 to $262.00 and gave the company a “hold” rating in a research note on Wednesday, April 10th. Piper Sandler assumed coverage on Constellation Brands in a report on Friday, March 22nd. They set an “overweight” rating and a $300.00 price target on the stock. BMO Capital Markets lifted their price objective on shares of Constellation Brands from $290.00 to $315.00 and gave the company an “outperform” rating in a research note on Friday, April 12th. Argus raised shares of Constellation Brands from a “hold” rating to a “buy” rating and set a $306.00 target price on the stock in a research note on Monday, April 15th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $308.00 price target on shares of Constellation Brands in a research note on Tuesday, May 28th. Three equities research 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, the company currently has an average rating of “Moderate Buy” and an average target price of $298.37.

Constellation Brands 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.