Patriot Financial Group Insurance Agency LLC trimmed its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 30.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 405 shares of the company’s stock after selling 180 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in Constellation Brands were worth $71,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Versant Capital Management Inc boosted its position in shares of Constellation Brands by 210.9% in the first quarter. Versant Capital Management Inc now owns 143 shares of the company’s stock worth $25,000 after purchasing an additional 97 shares during the period. Truewealth LLC boosted its position in shares of Constellation Brands by 467.9% in the fourth quarter. Truewealth LLC now owns 159 shares of the company’s stock worth $26,000 after purchasing an additional 131 shares during the period. Bay Harbor Wealth Management LLC bought a new position in shares of Constellation Brands in the first quarter worth approximately $33,000. City Holding Co. bought a new position in shares of Constellation Brands in the fourth quarter worth approximately $31,000. Finally, Ledyard National Bank bought a new position in shares of Constellation Brands in the fourth quarter worth approximately $31,000. Institutional investors own 73.55% of the company’s stock.
A number of equities analysts recently weighed in on STZ shares. Macquarie dropped coverage on shares of Constellation Brands in a research report on Thursday, January 10th. HSBC upgraded shares of Constellation Brands from a “hold” rating to a “buy” rating in a research report on Monday, January 7th. They noted that the move was a valuation call. Bank of America restated a “buy” rating and set a $216.00 target price (up previously from $188.00) on shares of Constellation Brands in a research report on Friday, April 5th. They noted that the move was a valuation call. Argus dropped their target price on shares of Constellation Brands from $260.00 to $210.00 and set a “buy” rating for the company in a research report on Friday, January 11th. Finally, Credit Suisse Group set a $230.00 target price on shares of Constellation Brands and gave the stock a “buy” rating in a research report on Friday, April 5th. Eleven research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $223.13.
Constellation Brands stock opened at $209.12 on Friday. The firm has a market cap of $40.05 billion, a P/E ratio of 22.53, a price-to-earnings-growth ratio of 2.90 and a beta of 0.53. The company has a current ratio of 1.16, a quick ratio of 0.49 and a debt-to-equity ratio of 0.92. Constellation Brands, Inc. has a 52-week low of $150.37 and a 52-week high of $234.26.
Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Thursday, April 4th. The company reported $1.84 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.72 by $0.12. The company had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.73 billion. Constellation Brands had a net margin of 38.67% and a return on equity of 15.63%. Constellation Brands’s revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.90 earnings per share. On average, equities research analysts predict that Constellation Brands, Inc. will post 8.51 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Friday, May 10th will be paid a $0.75 dividend. The ex-dividend date is Thursday, May 9th. This represents a $3.00 annualized dividend and a dividend yield of 1.43%. This is an increase from Constellation Brands’s previous quarterly dividend of $0.74. Constellation Brands’s dividend payout ratio is currently 10.02%.
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Constellation Brands Profile
Constellation Brands, Inc, together with its subsidiaries, produces, imports, and markets beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. The company sells wine across various categories, including table wine, sparkling wine, and dessert wine. It provides beer primarily under the Corona Extra, Corona Light, Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands, as well as Funky Buddha, Obregon Brewery, and Ballast Point brands.
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