Constellation Brands, Inc. (NYSE:STZ) Shares Bought by Thurston Springer Miller Herd & Titak Inc.

Thurston Springer Miller Herd & Titak Inc. grew its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 55.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 904 shares of the company’s stock after purchasing an additional 322 shares during the period. Thurston Springer Miller Herd & Titak Inc.’s holdings in Constellation Brands were worth $166,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Berkshire Hathaway Inc purchased a new stake in shares of Constellation Brands during the 4th quarter worth approximately $1,242,976,000. Norges Bank purchased a new stake in shares of Constellation Brands during the 4th quarter worth approximately $445,883,000. Vanguard Group Inc. boosted its stake in shares of Constellation Brands by 13.3% during the 4th quarter. Vanguard Group Inc. now owns 15,534,787 shares of the company’s stock worth $3,433,188,000 after acquiring an additional 1,821,969 shares in the last quarter. D1 Capital Partners L.P. boosted its stake in shares of Constellation Brands by 186.6% during the 4th quarter. D1 Capital Partners L.P. now owns 1,527,689 shares of the company’s stock worth $337,619,000 after acquiring an additional 994,639 shares in the last quarter. Finally, Van ECK Associates Corp boosted its stake in shares of Constellation Brands by 1,844.7% during the 4th quarter. Van ECK Associates Corp now owns 924,274 shares of the company’s stock worth $204,265,000 after acquiring an additional 876,745 shares in the last quarter. Institutional investors and hedge funds own 77.34% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Needham & Company LLC reissued a “buy” rating and set a $215.00 price target on shares of Constellation Brands in a research note on Thursday, April 10th. Barclays lifted their price objective on Constellation Brands from $203.00 to $207.00 and gave the stock an “overweight” rating in a research report on Monday, April 14th. The Goldman Sachs Group cut their price objective on Constellation Brands from $260.00 to $225.00 and set a “buy” rating for the company in a research report on Friday, April 11th. Roth Mkm cut their price objective on Constellation Brands from $284.00 to $256.00 and set a “buy” rating for the company in a research report on Thursday, April 3rd. Finally, Truist Financial upgraded Constellation Brands from a “hold” rating to a “buy” rating and set a $215.00 price objective for the company in a research report on Wednesday, May 7th. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Constellation Brands presently has an average rating of “Moderate Buy” and an average target price of $225.74.

Insider Activity at Constellation Brands

In related news, EVP Samuel J. Glaetzer sold 3,150 shares of the business’s stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $188.54, for a total transaction of $593,901.00. Following the completion of the sale, the executive vice president now directly owns 3,126 shares of the company’s stock, valued at $589,376.04. The trade was a 50.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 12.19% of the stock is currently owned by insiders.

Constellation Brands Stock Performance

NYSE:STZ opened at $171.88 on Friday. Constellation Brands, Inc. has a 1 year low of $160.46 and a 1 year high of $265.70. The firm’s fifty day simple moving average is $183.90 and its 200 day simple moving average is $193.71. The company has a current ratio of 1.10, a quick ratio of 0.46 and a debt-to-equity ratio of 1.26. The firm has a market capitalization of $30.60 billion, a PE ratio of 46.20, a PEG ratio of 1.52 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last posted its earnings results on Wednesday, April 9th. The company reported $2.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.28 by $0.35. The business had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.14 billion. Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. Constellation Brands’s revenue was up 1.2% compared to the same quarter last year. During the same period last year, the business posted $2.26 EPS. On average, sell-side analysts anticipate that Constellation Brands, Inc. will post 13.5 EPS for the current year.

Constellation Brands Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Tuesday, April 29th were issued a dividend of $1.02 per share. This is an increase from Constellation Brands’s previous quarterly dividend of $1.01. This represents a $4.08 annualized dividend and a yield of 2.37%. The ex-dividend date was Tuesday, April 29th. Constellation Brands’s dividend payout ratio (DPR) is currently -800.00%.

About Constellation Brands

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.