Constellation Brands, Inc. (NYSE:STZ) Shares Acquired by RNC Capital Management LLC

RNC Capital Management LLC grew its position in Constellation Brands, Inc. (NYSE:STZ) by 3.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,623 shares of the company’s stock after purchasing an additional 603 shares during the quarter. RNC Capital Management LLC’s holdings in Constellation Brands were worth $4,744,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Indiana Trust & Investment Management CO acquired a new stake in Constellation Brands during the 3rd quarter worth $25,000. Impact Partnership Wealth LLC raised its stake in Constellation Brands by 1,175.0% during the 3rd quarter. Impact Partnership Wealth LLC now owns 102 shares of the company’s stock worth $26,000 after acquiring an additional 94 shares in the last quarter. BKM Wealth Management LLC acquired a new stake in Constellation Brands during the 4th quarter worth $28,000. Asset Dedication LLC raised its stake in Constellation Brands by 3,833.3% during the 3rd quarter. Asset Dedication LLC now owns 118 shares of the company’s stock worth $30,000 after acquiring an additional 115 shares in the last quarter. Finally, Resurgent Financial Advisors LLC acquired a new stake in Constellation Brands during the 4th quarter worth $34,000. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

STZ has been the topic of several research reports. TheStreet downgraded shares of Constellation Brands from a “b” rating to a “c+” rating in a research report on Friday, January 5th. Piper Sandler initiated coverage on shares of Constellation Brands in a research report on Friday, March 22nd. They set an “overweight” rating and a $300.00 price objective on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $295.00 price objective on shares of Constellation Brands in a research report on Thursday, March 7th. Evercore ISI reissued an “outperform” rating and set a $300.00 price objective on shares of Constellation Brands in a research report on Wednesday. Finally, Argus downgraded shares of Constellation Brands from a “buy” rating to a “hold” rating in a research report on Wednesday, January 10th. Four equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $290.37.

Constellation Brands Trading Up 1.0 %

Shares of Constellation Brands stock opened at $272.07 on Thursday. Constellation Brands, Inc. has a 12-month low of $217.05 and a 12-month high of $273.65. The company has a current ratio of 1.05, a quick ratio of 0.46 and a debt-to-equity ratio of 1.05. The stock has a market cap of $49.74 billion, a PE ratio of 32.20, a price-to-earnings-growth ratio of 1.88 and a beta of 0.96. The company has a 50-day moving average of $252.62 and a two-hundred day moving average of $246.18.

Constellation Brands (NYSE:STZ) last released its quarterly earnings data on Friday, January 5th. The company reported $3.19 earnings per share for the quarter, beating the consensus estimate of $3.03 by $0.16. Constellation Brands had a return on equity of 23.35% and a net margin of 14.76%. The firm had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.54 billion. During the same period last year, the business posted $2.83 EPS. Constellation Brands’s quarterly revenue was up 1.4% on a year-over-year basis. On average, research analysts anticipate that Constellation Brands, Inc. will post 11.92 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 22nd. Investors of record on Thursday, February 8th were paid a $0.89 dividend. This represents a $3.56 annualized dividend and a yield of 1.31%. The ex-dividend date was Wednesday, February 7th. Constellation Brands’s payout ratio is currently 42.13%.

Insider Activity at Constellation Brands

In related news, major shareholder Family Foundation Sands sold 354,616 shares of the firm’s stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $250.26, for a total value of $88,746,200.16. Following the completion of the transaction, the insider now directly owns 54,461 shares of the company’s stock, valued at approximately $13,629,409.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 16.19% of the stock is currently owned by company insiders.

Constellation Brands 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 Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Victoria, Vicky Chamoy, and Pacifico brands.