D.A. Davidson & CO. Raises Stock Holdings in Constellation Brands, Inc. (NYSE:STZ)

D.A. Davidson & CO. grew its stake in Constellation Brands, Inc. (NYSE:STZ) by 11.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 57,087 shares of the company’s stock after acquiring an additional 5,747 shares during the quarter. D.A. Davidson & CO.’s holdings in Constellation Brands were worth $14,711,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in STZ. International Assets Investment Management LLC lifted its position in Constellation Brands by 23,184.7% during the third quarter. International Assets Investment Management LLC now owns 499,689 shares of the company’s stock worth $128,765,000 after buying an additional 497,543 shares during the period. Manning & Napier Advisors LLC purchased a new position in Constellation Brands during the second quarter worth about $119,394,000. Boston Partners lifted its position in Constellation Brands by 50.9% during the first quarter. Boston Partners now owns 975,589 shares of the company’s stock worth $265,099,000 after buying an additional 328,881 shares during the period. Dimensional Fund Advisors LP lifted its position in Constellation Brands by 31.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,002,332 shares of the company’s stock worth $257,865,000 after buying an additional 241,982 shares during the period. Finally, Coho Partners Ltd. lifted its position in Constellation Brands by 40.1% during the third quarter. Coho Partners Ltd. now owns 283,079 shares of the company’s stock worth $72,947,000 after buying an additional 80,970 shares during the period. 77.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

STZ has been the subject of several research analyst reports. Evercore ISI dropped their price target on Constellation Brands from $310.00 to $300.00 and set an “outperform” rating for the company in a research note on Friday, October 4th. TD Cowen lowered Constellation Brands from a “buy” rating to a “hold” rating and dropped their price target for the stock from $300.00 to $270.00 in a research note on Tuesday, October 8th. UBS Group dropped their price target on Constellation Brands from $320.00 to $295.00 and set a “buy” rating for the company in a research note on Monday, September 9th. Truist Financial dropped their price target on Constellation Brands from $265.00 to $255.00 and set a “hold” rating for the company in a research note on Friday, October 4th. Finally, Wells Fargo & Company dropped their price target on Constellation Brands from $300.00 to $295.00 and set an “overweight” rating for the company in a research note on Tuesday. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, Constellation Brands presently has a consensus rating of “Moderate Buy” and an average target price of $289.16.

Insiders Place Their Bets

In other Constellation Brands news, CEO William A. Newlands sold 25,000 shares of the stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $243.58, for a total transaction of $6,089,500.00. Following the transaction, the chief executive officer now owns 7,274 shares of the company’s stock, valued at $1,771,800.92. This trade represents a 77.46 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Samuel J. Glaetzer sold 1,510 shares of the 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 transaction, the executive vice president now directly owns 4,970 shares in the company, valued at approximately $1,220,482.90. This represents a 23.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 189,956 shares of company stock valued at $46,058,091 in the last quarter. Insiders own 12.19% of the company’s stock.

Constellation Brands Price Performance

Shares of NYSE STZ opened at $233.68 on Wednesday. Constellation Brands, Inc. has a fifty-two week low of $224.76 and a fifty-two week high of $274.87. The business has a 50 day moving average price of $242.42 and a two-hundred day moving average price of $247.08. The company has a quick ratio of 0.53, a current ratio of 1.25 and a debt-to-equity ratio of 1.31. The firm has a market cap of $42.43 billion, a PE ratio of 75.62, a price-to-earnings-growth ratio of 1.69 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings data on Thursday, October 3rd. The company reported $4.32 earnings per share for the quarter, beating analysts’ consensus estimates of $4.08 by $0.24. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The firm had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.95 billion. During the same quarter last year, the firm earned $3.70 EPS. Constellation Brands’s quarterly revenue was up 2.9% on a year-over-year basis. Sell-side analysts expect 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 was paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th were issued a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date was Tuesday, November 5th. Constellation Brands’s dividend payout ratio is presently 130.74%.

Constellation Brands Company Profile

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.