Barden Capital Management Inc. Raises Stake in Constellation Brands, Inc. (NYSE:STZ)

Barden Capital Management Inc. increased its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 11.9% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 5,502 shares of the company’s stock after buying an additional 583 shares during the quarter. Barden Capital Management Inc.’s holdings in Constellation Brands were worth $1,418,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Banque Cantonale Vaudoise purchased a new position in shares of Constellation Brands during the 1st quarter valued at $734,000. Park Avenue Securities LLC raised its stake in Constellation Brands by 43.6% in the 1st quarter. Park Avenue Securities LLC now owns 3,230 shares of the company’s stock valued at $878,000 after acquiring an additional 980 shares during the period. Ballentine Partners LLC lifted its holdings in Constellation Brands by 6.0% during the first quarter. Ballentine Partners LLC now owns 2,588 shares of the company’s stock valued at $703,000 after purchasing an additional 146 shares during the last quarter. Northwest Investment Counselors LLC bought a new position in Constellation Brands during the first quarter worth about $46,000. Finally, Global Trust Asset Management LLC increased its stake in shares of Constellation Brands by 35.7% in the first quarter. Global Trust Asset Management LLC now owns 380 shares of the company’s stock worth $103,000 after purchasing an additional 100 shares in the last quarter. Institutional investors own 77.34% of the company’s stock.

Constellation Brands Stock Performance

NYSE STZ opened at $241.52 on Monday. The company has a market capitalization of $44.19 billion, a P/E ratio of 18.00, a P/E/G ratio of 1.70 and a beta of 1.75. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.53 and a current ratio of 1.25. Constellation Brands, Inc. has a 52-week low of $227.64 and a 52-week high of $274.87. The company has a fifty day moving average of $246.51 and a 200-day moving average of $251.36.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings results on Thursday, October 3rd. The company reported $4.32 EPS for the quarter, beating analysts’ consensus estimates of $4.08 by $0.24. The business had revenue of $2.92 billion for the quarter, compared to analysts’ expectations of $2.95 billion. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. The business’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period last year, the business earned $3.70 earnings per share. As a group, equities research analysts predict that Constellation Brands, Inc. will post 13.57 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th will be paid a $1.01 dividend. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $4.04 dividend on an annualized basis and a yield of 1.67%. Constellation Brands’s dividend payout ratio (DPR) is currently 30.10%.

Insider Activity at Constellation Brands

In other news, EVP Samuel J. Glaetzer sold 1,510 shares of Constellation Brands stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $245.57, for a total value of $370,810.70. Following the sale, the executive vice president now directly owns 4,970 shares in the company, valued at approximately $1,220,482.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Daniel J. Mccarthy sold 1,854 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $252.43, for a total value of $468,005.22. Following the completion of the transaction, the director now directly owns 3,232 shares in the company, valued at $815,853.76. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Samuel J. Glaetzer sold 1,510 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $245.57, for a total transaction of $370,810.70. Following the transaction, the executive vice president now directly owns 4,970 shares of the company’s stock, valued at $1,220,482.90. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 136,221 shares of company stock worth $33,007,175 in the last three months. 12.19% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on STZ. Bank of America restated a “neutral” rating and set a $255.00 price target (down from $300.00) on shares of Constellation Brands in a research note on Monday, October 7th. TD Cowen lowered Constellation Brands from a “buy” rating to a “hold” rating and cut their price target for the stock from $300.00 to $270.00 in a report on Tuesday, October 8th. Roth Mkm reiterated a “buy” rating and set a $298.00 price objective on shares of Constellation Brands in a research note on Friday, October 4th. JPMorgan Chase & Co. cut their target price on Constellation Brands from $307.00 to $293.00 and set an “overweight” rating for the company in a research note on Friday, October 4th. Finally, Truist Financial decreased their price target on Constellation Brands from $265.00 to $255.00 and set a “hold” rating on the stock in a research report on Friday, October 4th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $290.47.

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.