Bangor Savings Bank grew its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 1.5% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,681 shares of the company’s stock after buying an additional 84 shares during the quarter. Bangor Savings Bank’s holdings in Constellation Brands were worth $1,295,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of STZ. Eudaimonia Partners LLC bought a new stake in shares of Constellation Brands during the third quarter worth $27,000. CVA Family Office LLC grew its stake in shares of Constellation Brands by 3,150.0% in the first quarter. CVA Family Office LLC now owns 130 shares of the company’s stock worth $30,000 after purchasing an additional 126 shares during the last quarter. Paces Ferry Wealth Advisors LLC bought a new stake in shares of Constellation Brands in the third quarter worth $32,000. Safeguard Investment Advisory Group LLC bought a new stake in shares of Constellation Brands in the fourth quarter worth $33,000. Finally, Greenhouse Wealth Management LLC bought a new stake in shares of Constellation Brands in the fourth quarter worth $35,000. 71.90% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts recently weighed in on STZ shares. Cowen boosted their price objective on shares of Constellation Brands from $240.00 to $275.00 in a research note on Friday, January 8th. UBS Group boosted their target price on shares of Constellation Brands from $238.00 to $256.00 and gave the company a “buy” rating in a report on Friday, January 8th. MKM Partners dropped their target price on shares of Constellation Brands from $219.00 to $216.00 and set a “neutral” rating on the stock in a report on Thursday, April 15th. Zacks Investment Research lowered shares of Constellation Brands from a “buy” rating to a “hold” rating and set a $242.00 target price on the stock. in a report on Monday, January 11th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Constellation Brands from $218.00 to $248.00 and gave the company an “overweight” rating in a report on Monday, December 28th. Nine investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $238.90.
Constellation Brands (NYSE:STZ) last released its earnings results on Wednesday, April 7th. The company reported $1.82 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.55 by $0.27. Constellation Brands had a net margin of 21.63% and a return on equity of 16.09%. The firm had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same period in the prior year, the firm earned $2.18 EPS. The company’s revenue was up 3.2% compared to the same quarter last year. As a group, research analysts predict that Constellation Brands, Inc. will post 9.66 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 18th. Stockholders of record on Tuesday, May 4th will be given 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 dividend yield of 1.28%. The ex-dividend date is Monday, May 3rd. Constellation Brands’s dividend payout ratio is currently 10.20%.
Constellation Brands 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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