Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Raises Position in Constellation Brands, Inc. (NYSE:STZ)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its holdings in Constellation Brands, Inc. (NYSE:STZ) by 22.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,855 shares of the company’s stock after acquiring an additional 522 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Constellation Brands were worth $700,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of STZ. CWM LLC grew its holdings in shares of Constellation Brands by 7.4% in the third quarter. CWM LLC now owns 4,453 shares of the company’s stock valued at $1,119,000 after acquiring an additional 306 shares in the last quarter. AE Wealth Management LLC grew its holdings in shares of Constellation Brands by 32.0% in the third quarter. AE Wealth Management LLC now owns 4,288 shares of the company’s stock valued at $1,078,000 after acquiring an additional 1,040 shares in the last quarter. Geneos Wealth Management Inc. grew its holdings in shares of Constellation Brands by 34.7% in the third quarter. Geneos Wealth Management Inc. now owns 322 shares of the company’s stock valued at $81,000 after acquiring an additional 83 shares in the last quarter. Ritholtz Wealth Management bought a new position in shares of Constellation Brands in the third quarter valued at approximately $572,000. Finally, Global Retirement Partners LLC grew its holdings in shares of Constellation Brands by 8.5% in the third quarter. Global Retirement Partners LLC now owns 1,967 shares of the company’s stock valued at $490,000 after acquiring an additional 154 shares in the last quarter. 77.34% of the stock is owned by institutional investors.

Constellation Brands Price Performance

NYSE STZ traded up $1.11 during trading on Tuesday, reaching $260.85. The company’s stock had a trading volume of 429,558 shares, compared to its average volume of 1,261,061. The stock has a market capitalization of $47.69 billion, a PE ratio of 27.68, a P/E/G ratio of 1.76 and a beta of 0.97. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.19 and a quick ratio of 0.53. The firm has a fifty day moving average of $258.44 and a 200 day moving average of $247.40. Constellation Brands, Inc. has a one year low of $221.81 and a one year high of $274.87.

Constellation Brands (NYSE:STZ) last announced its earnings results on Thursday, April 11th. The company reported $2.26 earnings per share 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 return on equity of 23.06% and a net margin of 16.13%. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.98 EPS. Analysts expect that Constellation Brands, Inc. will post 13.51 EPS for the current fiscal year.

Constellation Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Friday, May 3rd will be given a dividend of $1.01 per share. The ex-dividend date of this dividend is Thursday, May 2nd. This is a positive change from Constellation Brands’s previous quarterly dividend of $0.89. This represents a $4.04 annualized dividend and a dividend yield of 1.55%. Constellation Brands’s dividend payout ratio is 37.95%.

Insider Activity

In related news, EVP James A. Jr. Sabia sold 15,781 shares of the stock in a transaction on Friday, April 12th. The shares were sold at an average price of $263.63, for a total transaction of $4,160,345.03. Following the transaction, the executive vice president now owns 20,910 shares of the company’s stock, valued at approximately $5,512,503.30. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 16.19% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on STZ shares. Barclays upped their target price on Constellation Brands from $294.00 to $295.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Jefferies Financial Group raised their target price on Constellation Brands from $292.00 to $314.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Roth Mkm reaffirmed a “buy” rating and set a $305.00 price target on shares of Constellation Brands in a research report on Friday, April 12th. UBS Group lifted their price objective on Constellation Brands from $312.00 to $320.00 and gave the stock a “buy” rating in a report on Friday, April 12th. Finally, Piper Sandler assumed coverage on shares of Constellation Brands in a report on Friday, March 22nd. They set an “overweight” rating and a $300.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $298.55.

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 Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Victoria, Vicky Chamoy, and Pacifico brands.