SteelPeak Wealth LLC Boosts Stock Position in Constellation Brands, Inc. (NYSE:STZ)

SteelPeak Wealth LLC increased its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 1.4% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,501 shares of the company’s stock after buying an additional 61 shares during the quarter. SteelPeak Wealth LLC’s holdings in Constellation Brands were worth $1,223,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in STZ. Morgan Stanley boosted its position in shares of Constellation Brands by 1.5% during the 3rd quarter. Morgan Stanley now owns 4,050,468 shares of the company’s stock valued at $1,018,005,000 after acquiring an additional 58,518 shares during the last quarter. Capital Research Global Investors boosted its holdings in Constellation Brands by 12.9% in the 4th quarter. Capital Research Global Investors now owns 2,247,617 shares of the company’s stock valued at $543,361,000 after purchasing an additional 256,738 shares during the last quarter. Norges Bank acquired a new stake in shares of Constellation Brands during the 4th quarter worth approximately $443,844,000. Charles Schwab Investment Management Inc. raised its position in shares of Constellation Brands by 38.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,403,495 shares of the company’s stock valued at $335,402,000 after buying an additional 388,390 shares during the period. Finally, Darsana Capital Partners LP raised its position in shares of Constellation Brands by 288.9% during the 3rd quarter. Darsana Capital Partners LP now owns 875,000 shares of the company’s stock valued at $219,914,000 after buying an additional 650,000 shares during the period. Institutional investors and hedge funds own 77.34% of the company’s stock.

Constellation Brands Trading Up 0.5 %

Shares of Constellation Brands stock opened at $257.28 on Monday. The company has a fifty day simple moving average of $255.34 and a 200-day simple moving average of $253.76. Constellation Brands, Inc. has a 12-month low of $227.50 and a 12-month high of $274.87. The company has a current ratio of 1.19, a quick ratio of 0.53 and a debt-to-equity ratio of 1.06. The stock 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.

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 the consensus estimate of $2.10 by $0.16. Constellation Brands had a return on equity of 23.06% and a net margin of 16.13%. The company had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.09 billion. During the same quarter last year, the company posted $1.98 earnings per share. The business’s quarterly revenue was up 7.1% compared to the same quarter last year. On average, equities analysts forecast that Constellation Brands, Inc. will post 13.67 EPS for the current fiscal year.

Constellation Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 17th. Shareholders of record on Friday, May 3rd were paid a $1.01 dividend. The ex-dividend date of this dividend was Thursday, May 2nd. This represents a $4.04 dividend on an annualized basis 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%.

Analyst Upgrades and Downgrades

STZ has been the subject of several analyst reports. BMO Capital Markets increased their price objective on Constellation Brands from $290.00 to $315.00 and gave the stock an “outperform” rating in a research report on Friday, April 12th. JPMorgan Chase & Co. dropped their price target on shares of Constellation Brands from $296.00 to $291.00 and set an “overweight” rating for the company in a research report on Thursday, June 20th. Piper Sandler assumed coverage on Constellation Brands in a report on Friday, March 22nd. They issued an “overweight” rating and a $300.00 price objective on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $308.00 target price on shares of Constellation Brands in a report on Tuesday, May 28th. Finally, Argus raised Constellation Brands from a “hold” rating to a “buy” rating and set a $306.00 target price for the company in a research note on Monday, April 15th. Three research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $298.37.

Insider Activity

In related news, CEO William A. Newlands sold 25,000 shares of the company’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $261.54, for a total value of $6,538,500.00. Following the completion of the sale, the chief executive officer now owns 14,700 shares in the company, valued at approximately $3,844,638. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Constellation Brands news, EVP Michael Mcgrew sold 3,237 shares of Constellation Brands stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $255.50, for a total value of $827,053.50. Following the transaction, the executive vice president now directly owns 1,731 shares in the company, valued at approximately $442,270.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William A. Newlands sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $261.54, for a total value of $6,538,500.00. Following the sale, 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. Over the last ninety days, insiders sold 48,031 shares of company stock valued at $12,582,321. 12.19% of the stock is currently owned by company insiders.

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.