Hohimer Wealth Management LLC Has $3.60 Million Stock Holdings in Constellation Brands, Inc. (NYSE:STZ)

Hohimer Wealth Management LLC grew its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 0.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,886 shares of the company’s stock after purchasing an additional 128 shares during the period. Hohimer Wealth Management LLC’s holdings in Constellation Brands were worth $3,599,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new position in Constellation Brands during the fourth quarter worth $443,844,000. Darsana Capital Partners LP lifted its position in Constellation Brands by 288.9% in the 3rd quarter. Darsana Capital Partners LP now owns 875,000 shares of the company’s stock valued at $219,914,000 after acquiring an additional 650,000 shares in the last quarter. Boston Partners acquired a new position in Constellation Brands during the 4th quarter valued at about $156,358,000. International Assets Investment Management LLC raised its stake in shares of Constellation Brands by 24,922.5% in the fourth quarter. International Assets Investment Management LLC now owns 567,010 shares of the company’s stock worth $137,075,000 after purchasing an additional 564,744 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Constellation Brands by 38.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,403,495 shares of the company’s stock valued at $335,402,000 after purchasing an additional 388,390 shares in the last quarter. Institutional investors own 77.34% of the company’s stock.

Constellation Brands Price Performance

Shares of STZ stock traded down $3.45 during trading on Thursday, hitting $245.49. The company had a trading volume of 693,944 shares, compared to its average volume of 1,182,115. 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 $44.92 billion, a price-to-earnings ratio of 26.54, a price-to-earnings-growth ratio of 1.69 and a beta of 0.95. 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 stock’s 50-day moving average is $261.60 and its two-hundred day moving average is $250.74.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings results on Thursday, April 11th. The company reported $2.26 EPS for the quarter, topping analysts’ consensus estimates of $2.10 by $0.16. Constellation Brands had a net margin of 16.13% and a return on equity of 23.06%. The firm had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.09 billion. During the same quarter in the prior year, the firm earned $1.98 EPS. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. As a group, analysts predict that Constellation Brands, Inc. will post 13.53 EPS for the current fiscal year.

Constellation Brands Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 17th. Shareholders of record on Friday, May 3rd were paid a dividend of $1.01 per share. The ex-dividend date was Thursday, May 2nd. This is an increase from Constellation Brands’s previous quarterly dividend of $0.89. This represents a $4.04 annualized dividend and a dividend yield of 1.65%. Constellation Brands’s dividend payout ratio (DPR) is 43.07%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on STZ. Piper Sandler initiated coverage on shares of Constellation Brands in a research report on Friday, March 22nd. They set an “overweight” rating and a $300.00 price target on the stock. Royal Bank of Canada increased their price target on Constellation Brands from $295.00 to $308.00 and gave the company an “outperform” rating in a research report on Friday, April 12th. UBS Group upped their price objective on Constellation Brands from $312.00 to $320.00 and gave the company a “buy” rating in a research note on Friday, April 12th. Argus raised shares of Constellation Brands from a “hold” rating to a “buy” rating and set a $306.00 price target on the stock in a report on Monday, April 15th. Finally, HSBC raised their price objective on shares of Constellation Brands from $290.00 to $300.00 and gave the stock a “buy” rating in a report on Friday, April 12th. Three research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, Constellation Brands presently has a consensus rating of “Moderate Buy” and an average price target of $298.55.

Insider Transactions at Constellation Brands

In related news, EVP Michael Mcgrew sold 3,237 shares of the stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $255.50, for a total transaction of $827,053.50. Following the transaction, the executive vice president now owns 1,731 shares of the company’s stock, valued at approximately $442,270.50. The transaction was disclosed in a legal filing with the SEC, which is available 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 of the company’s stock, valued at approximately $442,270.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William A. Newlands sold 25,000 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 14,700 shares of the company’s stock, valued at approximately $3,844,638. The disclosure for this sale can be found here. In the last ninety days, insiders sold 48,031 shares of company stock worth $12,582,321. 16.19% of the stock is currently owned by 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.