Benjamin Edwards Inc. Boosts Holdings in Constellation Brands, Inc. (NYSE:STZ)

Benjamin Edwards Inc. lifted its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 3,785.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,554 shares of the company’s stock after purchasing an additional 1,514 shares during the period. Benjamin Edwards Inc.’s holdings in Constellation Brands were worth $400,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of Constellation Brands by 3.5% in the first quarter. Vanguard Group Inc. now owns 13,705,793 shares of the company’s stock worth $3,724,686,000 after acquiring an additional 462,891 shares during the last quarter. Capital International Investors boosted its stake in Constellation Brands by 39.4% during the 1st quarter. Capital International Investors now owns 11,685,249 shares of the company’s stock worth $3,175,583,000 after purchasing an additional 3,304,709 shares during the last quarter. Capital World Investors grew its holdings in shares of Constellation Brands by 8.7% during the first quarter. Capital World Investors now owns 9,040,669 shares of the company’s stock worth $2,456,892,000 after buying an additional 723,549 shares in the last quarter. Capital Research Global Investors raised its position in shares of Constellation Brands by 9.9% in the first quarter. Capital Research Global Investors now owns 2,469,997 shares of the company’s stock valued at $671,246,000 after buying an additional 222,380 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Constellation Brands by 31.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,002,332 shares of the company’s stock worth $257,865,000 after acquiring an additional 241,982 shares during the last quarter. Institutional investors and hedge funds own 77.34% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on STZ shares. Truist Financial reiterated a “hold” rating and issued a $265.00 price objective on shares of Constellation Brands in a report on Wednesday, July 3rd. Barclays boosted their price objective on Constellation Brands from $287.00 to $295.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. JPMorgan Chase & Co. cut their target price on Constellation Brands from $320.00 to $307.00 and set an “overweight” rating for the company in a research note on Tuesday, September 3rd. Roth Mkm lowered their price target on shares of Constellation Brands from $303.00 to $298.00 and set a “buy” rating on the stock in a research report on Wednesday, September 4th. Finally, BMO Capital Markets restated an “outperform” rating and set a $315.00 price objective on shares of Constellation Brands in a research report on Friday, July 5th. Three analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $296.78.

Constellation Brands Price Performance

Shares of STZ opened at $248.09 on Friday. 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 firm’s fifty day simple moving average is $245.42 and its 200-day simple moving average is $253.90. The firm has a market capitalization of $45.39 billion, a price-to-earnings ratio of 18.49, a PEG ratio of 1.69 and a beta of 1.75. Constellation Brands, Inc. has a twelve month low of $227.50 and a twelve month high of $274.87.

Constellation Brands (NYSE:STZ) last released its quarterly earnings data 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. Constellation Brands had a return on equity of 23.72% and a net margin of 22.70%. The business had revenue of $2.66 billion during the quarter, compared to analysts’ expectations of $2.67 billion. During the same period in the prior year, the firm posted $2.91 EPS. The business’s quarterly revenue was up 5.8% compared to the same quarter last year. Equities analysts forecast that Constellation Brands, Inc. will post 13.53 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Wednesday, August 14th were issued a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 1.63%. The ex-dividend date of this dividend was Wednesday, August 14th. Constellation Brands’s payout ratio is 30.10%.

Insider Activity at Constellation Brands

In other news, EVP Kaneenat Kristann Carey sold 977 shares of Constellation Brands stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $261.00, for a total transaction of $254,997.00. Following the sale, the executive vice president now owns 2,706 shares in the company, valued at $706,266. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Kaneenat Kristann Carey sold 977 shares of the business’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $261.00, for a total value of $254,997.00. Following the transaction, the executive vice president now owns 2,706 shares in the company, valued at approximately $706,266. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Garth Hankinson sold 13,583 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $240.00, for a total value of $3,259,920.00. Following the sale, the chief financial officer now directly owns 11,702 shares of the company’s stock, valued at $2,808,480. The disclosure for this sale can be found here. Insiders have sold 16,414 shares of company stock valued at $3,982,922 in the last ninety days. Insiders own 12.19% of the company’s stock.

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.