New Century Financial Group LLC Makes New $276,000 Investment in Constellation Brands, Inc. (NYSE:STZ)

New Century Financial Group LLC acquired a new stake in Constellation Brands, Inc. (NYSE:STZ) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,017 shares of the company’s stock, valued at approximately $276,000.

Other institutional investors have also recently added to or reduced their stakes in the company. WealthBridge Investment Counsel Inc. raised its stake in shares of Constellation Brands by 0.4% in the 1st quarter. WealthBridge Investment Counsel Inc. now owns 26,200 shares of the company’s stock valued at $7,120,000 after acquiring an additional 105 shares during the period. AMI Asset Management Corp raised its position in Constellation Brands by 3.2% in the first quarter. AMI Asset Management Corp now owns 174,856 shares of the company’s stock valued at $47,519,000 after purchasing an additional 5,389 shares during the period. First Trust Direct Indexing L.P. lifted its stake in shares of Constellation Brands by 25.7% during the first quarter. First Trust Direct Indexing L.P. now owns 2,804 shares of the company’s stock worth $762,000 after purchasing an additional 574 shares in the last quarter. Norden Group LLC purchased a new stake in shares of Constellation Brands in the first quarter worth about $924,000. Finally, Valeo Financial Advisors LLC grew its stake in shares of Constellation Brands by 4.4% in the first quarter. Valeo Financial Advisors LLC now owns 16,534 shares of the company’s stock valued at $4,493,000 after buying an additional 703 shares in the last quarter. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on STZ shares. HSBC upped their price target on Constellation Brands from $290.00 to $300.00 and gave the stock a “buy” rating in a report on Friday, April 12th. Piper Sandler began coverage on Constellation Brands in a research report on Friday, March 22nd. They set an “overweight” rating and a $300.00 target price on the stock. Argus raised Constellation Brands from a “hold” rating to a “buy” rating and set a $306.00 price target for the company in a report on Monday, April 15th. Evercore ISI lifted their price objective on Constellation Brands from $300.00 to $310.00 and gave the stock an “outperform” rating in a report on Friday, April 12th. Finally, JPMorgan Chase & Co. cut their target price on Constellation Brands from $296.00 to $291.00 and set an “overweight” rating on the stock in a research report on Thursday, June 20th. Three research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $298.63.

Insider Buying and Selling

In other Constellation Brands news, CEO William A. Newlands sold 25,000 shares of the company’s stock in a transaction dated 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 transaction, 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 is available through the SEC website. In related news, EVP James A. Jr. Sabia sold 15,781 shares of the company’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $263.63, for a total value of $4,160,345.03. Following the completion of the sale, the executive vice president now owns 20,910 shares of the company’s stock, valued at $5,512,503.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William A. Newlands sold 25,000 shares of the stock in a transaction dated 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 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 have sold a total of 48,031 shares of company stock valued at $12,582,321 in the last quarter. Company insiders own 12.19% of the company’s stock.

Constellation Brands Stock Performance

Shares of NYSE STZ opened at $250.37 on Friday. The company has a quick ratio of 0.53, a current ratio of 1.19 and a debt-to-equity ratio of 1.06. The firm’s 50-day moving average price is $254.77 and its two-hundred day moving average price is $253.97. Constellation Brands, Inc. has a 52-week low of $227.50 and a 52-week high of $274.87. The stock has a market capitalization of $45.81 billion, a P/E ratio of 26.69, a P/E/G ratio of 1.66 and a beta of 0.87.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Wednesday, July 3rd. The company reported $3.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.46 by $0.11. The business had revenue of $2.66 billion for the quarter, compared to the consensus estimate of $2.67 billion. Constellation Brands had a return on equity of 23.72% and a net margin of 22.70%. The business’s revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the business posted $2.91 EPS. As a group, sell-side analysts forecast that Constellation Brands, Inc. will post 13.67 earnings per share for the current year.

Constellation Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Wednesday, August 14th will be issued a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.61%. Constellation Brands’s dividend payout ratio (DPR) is presently 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.