Constellation Brands, Inc. (NYSE:STZ) Shares Bought by Birch Hill Investment Advisors LLC

Birch Hill Investment Advisors LLC grew its holdings in Constellation Brands, Inc. (NYSE:STZ) by 1.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 153,715 shares of the company’s stock after buying an additional 1,916 shares during the quarter. Constellation Brands comprises 1.9% of Birch Hill Investment Advisors LLC’s investment portfolio, making the stock its 17th biggest holding. Birch Hill Investment Advisors LLC owned 0.08% of Constellation Brands worth $39,611,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. New Millennium Group LLC purchased a new position in Constellation Brands in the 2nd quarter valued at approximately $25,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Constellation Brands during the second quarter valued at about $29,000. Horizon Bancorp Inc. IN purchased a new stake in Constellation Brands during the second quarter valued at about $32,000. Kapitalo Investimentos Ltda purchased a new stake in Constellation Brands during the fourth quarter valued at about $35,000. Finally, First Financial Corp IN purchased a new stake in Constellation Brands during the first quarter valued at about $35,000. 77.34% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Constellation Brands news, CFO Garth Hankinson sold 13,583 shares of Constellation Brands stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $240.00, for a total transaction of $3,259,920.00. Following the sale, the chief financial officer now directly owns 11,702 shares of the company’s stock, valued at approximately $2,808,480. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Garth Hankinson sold 13,583 shares of Constellation Brands stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $240.00, for a total value of $3,259,920.00. Following the completion of the transaction, the chief financial officer now owns 11,702 shares in the company, valued at approximately $2,808,480. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Daniel J. Mccarthy sold 1,854 shares of Constellation Brands stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $252.43, for a total transaction of $468,005.22. Following the completion of the transaction, the director now owns 3,232 shares of the company’s stock, valued at $815,853.76. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 12.19% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Bank of America reaffirmed a “neutral” rating and issued a $255.00 target price (down previously from $300.00) on shares of Constellation Brands in a research report on Monday, October 7th. UBS Group decreased their target price on Constellation Brands from $320.00 to $295.00 and set a “buy” rating for the company in a research report on Monday, September 9th. Roth Mkm reaffirmed a “buy” rating and issued a $298.00 target price on shares of Constellation Brands in a research report on Friday, October 4th. Royal Bank of Canada restated an “outperform” rating and set a $308.00 price objective on shares of Constellation Brands in a research note on Friday, October 4th. Finally, Truist Financial dropped 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 research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $291.06.

Constellation Brands Price Performance

NYSE STZ opened at $241.06 on Friday. Constellation Brands, Inc. has a fifty-two week low of $227.50 and a fifty-two week high of $274.87. The stock’s 50-day moving average is $246.10 and its two-hundred day moving average is $252.41. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.25 and a quick ratio of 0.53. The firm has a market cap of $44.11 billion, a P/E ratio of 17.96, a price-to-earnings-growth ratio of 1.70 and a beta of 1.75.

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

Constellation Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Tuesday, November 5th will be given a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date is Tuesday, November 5th. Constellation Brands’s dividend payout ratio (DPR) is presently 30.10%.

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.