IFP Advisors Inc Buys 3,630 Shares of Constellation Brands Inc $STZ

IFP Advisors Inc increased its stake in shares of Constellation Brands Inc (NYSE:STZ) by 162.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 5,861 shares of the company’s stock after acquiring an additional 3,630 shares during the quarter. IFP Advisors Inc’s holdings in Constellation Brands were worth $809,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of STZ. Brighton Jones LLC boosted its position in Constellation Brands by 23.0% in the fourth quarter. Brighton Jones LLC now owns 1,001 shares of the company’s stock worth $221,000 after purchasing an additional 187 shares during the last quarter. Woodline Partners LP purchased a new position in Constellation Brands in the first quarter worth $2,409,000. Cary Street Partners Financial LLC boosted its position in Constellation Brands by 69.9% in the second quarter. Cary Street Partners Financial LLC now owns 1,026 shares of the company’s stock worth $167,000 after purchasing an additional 422 shares during the last quarter. Bank of Nova Scotia boosted its position in Constellation Brands by 3.6% in the second quarter. Bank of Nova Scotia now owns 17,347 shares of the company’s stock worth $2,822,000 after purchasing an additional 599 shares during the last quarter. Finally, Daiwa Securities Group Inc. boosted its position in Constellation Brands by 5.0% in the second quarter. Daiwa Securities Group Inc. now owns 23,732 shares of the company’s stock worth $3,861,000 after purchasing an additional 1,127 shares during the last quarter. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Constellation Brands Stock Down 0.0%

Shares of NYSE STZ opened at $149.50 on Monday. Constellation Brands Inc has a one year low of $126.45 and a one year high of $186.40. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.08 and a quick ratio of 0.55. The business’s fifty day moving average price is $152.73 and its 200-day moving average price is $148.73. The stock has a market capitalization of $25.74 billion, a PE ratio of 15.59, a P/E/G ratio of 3.28 and a beta of 0.43.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings results on Wednesday, April 8th. The company reported $1.90 EPS for the quarter, beating analysts’ consensus estimates of $1.71 by $0.19. Constellation Brands had a return on equity of 26.18% and a net margin of 17.29%.The firm had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $1.84 billion. During the same quarter in the prior year, the firm earned $2.63 EPS. The business’s revenue for the quarter was down 11.3% compared to the same quarter last year. On average, equities research analysts anticipate that Constellation Brands Inc will post 11.9 EPS for the current year.

Constellation Brands Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Wednesday, April 29th were given a dividend of $1.03 per share. The ex-dividend date of this dividend was Wednesday, April 29th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.8%. This is a boost from Constellation Brands’s previous quarterly dividend of $1.02. Constellation Brands’s payout ratio is currently 42.96%.

Insider Activity at Constellation Brands

In other news, EVP James O. Bourdeau sold 4,407 shares of the company’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $143.24, for a total transaction of $631,258.68. Following the transaction, the executive vice president owned 9,109 shares of the company’s stock, valued at $1,304,773.16. This represents a 32.61% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 12.45% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on STZ shares. Weiss Ratings reissued a “hold (c-)” rating on shares of Constellation Brands in a research report on Monday, May 4th. Roth Mkm reissued a “buy” rating on shares of Constellation Brands in a research report on Thursday, April 9th. Barclays boosted their price objective on Constellation Brands from $151.00 to $170.00 and gave the stock an “equal weight” rating in a research report on Friday, April 10th. Morgan Stanley boosted their price objective on Constellation Brands from $160.00 to $183.00 and gave the stock an “equal weight” rating in a research report on Friday, April 10th. Finally, TD Cowen raised Constellation Brands from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $142.00 to $190.00 in a research report on Monday, April 13th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $175.37.

Constellation Brands Company Profile

Constellation Brands, Inc is a leading producer and marketer of beer, wine and spirits, with operations spanning production, importation, marketing and distribution. The company’s beverage portfolio includes a range of premium and mainstream wines and spirits alongside major imported beer brands; in the U.S. market Constellation is widely known for its role in bringing Mexican imports such as Corona and Modelo to American consumers. Constellation supplies retail, on‑premise and foodservice channels and supports its brands with national sales and marketing platforms and supply‑chain capabilities.

The company traces its roots to the Canandaigua Wine Company, founded by Marvin Sands in 1945, and evolved through organic growth and acquisition into a diversified beverage company.