Jacobs & Co. CA lowered its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 1.2% during the first quarter, HoldingsChannel reports. The fund owned 35,579 shares of the company’s stock after selling 419 shares during the quarter. Jacobs & Co. CA’s holdings in Constellation Brands were worth $8,112,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of STZ. First Trust Advisors LP grew its position in Constellation Brands by 4.6% during the 1st quarter. First Trust Advisors LP now owns 18,870 shares of the company’s stock worth $3,308,000 after acquiring an additional 833 shares during the last quarter. Engineers Gate Manager LP lifted its holdings in Constellation Brands by 28.9% during the 3rd quarter. Engineers Gate Manager LP now owns 5,253 shares of the company’s stock worth $995,000 after buying an additional 1,178 shares during the period. Peapack Gladstone Financial Corp lifted its holdings in Constellation Brands by 63.1% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 11,642 shares of the company’s stock worth $2,206,000 after buying an additional 4,506 shares during the period. Nuveen Asset Management LLC lifted its holdings in Constellation Brands by 30.6% during the 3rd quarter. Nuveen Asset Management LLC now owns 843,810 shares of the company’s stock worth $159,910,000 after buying an additional 197,819 shares during the period. Finally, Eudaimonia Partners LLC acquired a new position in Constellation Brands during the 3rd quarter worth about $27,000. Institutional investors and hedge funds own 71.90% of the company’s stock.
STZ stock traded down $11.75 during trading on Thursday, reaching $223.19. 79,995 shares of the stock were exchanged, compared to its average volume of 1,154,297. The firm’s 50 day moving average is $226.59 and its 200 day moving average is $210.15. Constellation Brands, Inc. has a twelve month low of $149.01 and a twelve month high of $242.62. The company has a current ratio of 1.69, a quick ratio of 1.01 and a debt-to-equity ratio of 0.76. The firm has a market cap of $43.28 billion, a P/E ratio of 21.66, a price-to-earnings-growth ratio of 3.15 and a beta of 1.12.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 18th. Investors of record on Tuesday, May 4th will be paid a dividend of $0.76 per share. This is an increase from Constellation Brands’s previous quarterly dividend of $0.75. This represents a $3.04 dividend on an annualized basis and a yield of 1.36%. Constellation Brands’s dividend payout ratio is 10.20%.
STZ has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft lifted their target price on Constellation Brands from $219.00 to $223.00 and gave the stock a “hold” rating in a report on Wednesday, March 31st. Smith Barney Citigroup lifted their target price on Constellation Brands from $220.00 to $244.00 in a report on Friday, January 8th. Jefferies Financial Group lifted their target price on Constellation Brands from $276.00 to $300.00 and gave the stock a “buy” rating in a report on Monday. Wells Fargo & Company lifted their target price on Constellation Brands from $250.00 to $265.00 and gave the stock an “overweight” rating in a report on Friday, January 8th. Finally, Truist downgraded Constellation Brands from a “buy” rating to a “hold” rating and set a $240.00 target price on the stock. in a report on Tuesday, February 16th. Nine equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Constellation Brands currently has an average rating of “Buy” and a consensus target price of $237.30.
In related news, EVP Robert Lee Hanson sold 6,101 shares of the company’s stock in a transaction that occurred on Friday, January 8th. The stock was sold at an average price of $228.78, for a total transaction of $1,395,786.78. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 15.77% of the stock is currently owned by corporate insiders.
Constellation Brands Company Profile
Constellation Brands, Inc engages in the production, marketing and distribution of beer, wine and spirits. It operates through the following segments: Beer, Wine and Spirits, and Corporate Operations and Other and Canopy. The Beer segment includes imported and craft beer brands. The Wine and Spirits segment sells wine brands across all categories-table wine, sparkling wine and dessert wine-and across all price points.
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