Constellation Brands, Inc. (NYSE:STZ) Shares Acquired by Peddock Capital Advisors LLC

Peddock Capital Advisors LLC lifted its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 0.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,576 shares of the company’s stock after buying an additional 96 shares during the period. Constellation Brands makes up approximately 1.4% of Peddock Capital Advisors LLC’s investment portfolio, making the stock its 16th biggest holding. Peddock Capital Advisors LLC’s holdings in Constellation Brands were worth $4,491,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Kestra Private Wealth Services LLC grew its stake in Constellation Brands by 17.2% during the 3rd quarter. Kestra Private Wealth Services LLC now owns 17,218 shares of the company’s stock valued at $4,327,000 after purchasing an additional 2,526 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in Constellation Brands by 15.3% during the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 32,433 shares of the company’s stock worth $8,151,000 after buying an additional 4,311 shares during the last quarter. Perigon Wealth Management LLC lifted its stake in Constellation Brands by 46.0% during the 4th quarter. Perigon Wealth Management LLC now owns 6,012 shares of the company’s stock valued at $1,453,000 after acquiring an additional 1,893 shares during the period. CoreCap Advisors LLC lifted its stake in Constellation Brands by 35.8% during the 4th quarter. CoreCap Advisors LLC now owns 2,002 shares of the company’s stock valued at $484,000 after acquiring an additional 528 shares during the period. Finally, Ascent Wealth Partners LLC purchased a new stake in shares of Constellation Brands in the 4th quarter valued at $962,000. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Constellation Brands

In other news, EVP Michael Mcgrew sold 3,237 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $255.50, for a total transaction 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 legal filing with the SEC, which is available at the SEC website. In other Constellation Brands news, EVP Michael Mcgrew sold 3,237 shares of the firm’s stock in a transaction 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 completion of the sale, the executive vice president now directly owns 1,731 shares of the company’s stock, valued at approximately $442,270.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP James A. Jr. Sabia sold 15,781 shares of the business’s stock in a transaction dated 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 directly owns 20,910 shares in the company, valued at approximately $5,512,503.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,031 shares of company stock valued at $6,043,821. Corporate insiders own 16.19% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on STZ shares. Royal Bank of Canada boosted their target price on shares of Constellation Brands from $295.00 to $308.00 and gave the company an “outperform” rating in a research report on Friday, April 12th. Evercore ISI upped their target price on Constellation Brands from $300.00 to $310.00 and gave the stock an “outperform” rating in a research note on Friday, April 12th. Argus raised Constellation Brands from a “hold” rating to a “buy” rating and set a $306.00 target price on the stock in a report on Monday, April 15th. UBS Group boosted their price target on Constellation Brands from $312.00 to $320.00 and gave the company a “buy” rating in a report on Friday, April 12th. Finally, Piper Sandler initiated coverage on Constellation Brands in a research report on Friday, March 22nd. They issued an “overweight” rating and a $300.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $298.55.

Constellation Brands Price Performance

Shares of Constellation Brands stock traded up $0.01 during mid-day trading on Wednesday, reaching $258.50. 145,701 shares of the stock traded hands, compared to its average volume of 1,212,767. The stock has a market capitalization of $47.30 billion, a PE ratio of 27.55, a PEG ratio of 1.73 and a beta of 1.75. The business has a 50-day moving average of $261.27 and a 200 day moving average of $249.24. Constellation Brands, Inc. has a fifty-two week low of $223.01 and a fifty-two week high of $274.87. The company has a quick ratio of 0.53, a current ratio of 1.19 and a debt-to-equity ratio of 1.06.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings data on Thursday, April 11th. The company reported $2.26 EPS for the quarter, beating 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 firm 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 company earned $1.98 EPS. The firm’s revenue was up 7.1% compared to the same quarter last year. On average, analysts predict that Constellation Brands, Inc. will post 13.51 EPS for the current year.

Constellation Brands Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Investors 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 dividend on an annualized basis and a yield of 1.56%. Constellation Brands’s payout ratio 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.