Constellation Brands, Inc. (NYSE:STZ) Stake Boosted by WASHINGTON TRUST Co

WASHINGTON TRUST Co increased its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 156.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,050 shares of the company’s stock after purchasing an additional 640 shares during the quarter. WASHINGTON TRUST Co’s holdings in Constellation Brands were worth $254,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Burns Matteson Capital Management LLC boosted its position in Constellation Brands by 1.7% during the 4th quarter. Burns Matteson Capital Management LLC now owns 2,499 shares of the company’s stock worth $604,000 after acquiring an additional 42 shares during the period. United Capital Financial Advisers LLC boosted its position in Constellation Brands by 2.9% during the 1st quarter. United Capital Financial Advisers LLC now owns 1,552 shares of the company’s stock worth $357,000 after acquiring an additional 44 shares during the period. Toth Financial Advisory Corp lifted its holdings in shares of Constellation Brands by 0.3% during the 3rd quarter. Toth Financial Advisory Corp now owns 16,237 shares of the company’s stock valued at $4,081,000 after buying an additional 44 shares during the last quarter. Bragg Financial Advisors Inc lifted its holdings in shares of Constellation Brands by 1.6% during the 4th quarter. Bragg Financial Advisors Inc now owns 2,825 shares of the company’s stock valued at $655,000 after buying an additional 45 shares during the last quarter. Finally, IHT Wealth Management LLC lifted its holdings in shares of Constellation Brands by 1.9% during the 1st quarter. IHT Wealth Management LLC now owns 2,406 shares of the company’s stock valued at $543,000 after buying an additional 45 shares during the last quarter. 77.34% of the stock is currently owned by institutional investors.

Constellation Brands Trading Down 0.1 %

NYSE:STZ opened at $271.77 on Friday. Constellation Brands, Inc. has a 1-year low of $217.05 and a 1-year high of $273.65. The business’s 50-day moving average price is $253.01 and its two-hundred day moving average price is $246.36. 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 firm has a market capitalization of $49.68 billion, a price-to-earnings ratio of 32.16, a PEG ratio of 1.87 and a beta of 0.96.

Constellation Brands (NYSE:STZ) last released its earnings results 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. The firm had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.54 billion. Constellation Brands had a return on equity of 23.35% and a net margin of 14.76%. The company’s quarterly revenue was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.83 earnings per share. On average, equities analysts expect that Constellation Brands, Inc. will post 11.92 earnings per share for the current year.

Constellation Brands Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on STZ shares. Evercore ISI reissued an “outperform” rating and issued a $300.00 price objective on shares of Constellation Brands in a research note on Wednesday. JPMorgan Chase & Co. dropped their price target on Constellation Brands from $309.00 to $301.00 and set an “overweight” rating on the stock in a research report on Thursday, December 21st. Piper Sandler started coverage on Constellation Brands in a research report on Friday, March 22nd. They set an “overweight” rating and a $300.00 price objective on the stock. Bank of America boosted their price objective on Constellation Brands from $290.00 to $300.00 and gave the company a “buy” rating in a research report on Monday, March 18th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $295.00 price objective on shares of Constellation Brands in a research report on Thursday, March 7th. Four investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, Constellation Brands presently has a consensus rating of “Moderate Buy” and a consensus price target of $290.37.

Insider Activity at Constellation Brands

In related news, major shareholder Family Foundation Sands sold 354,616 shares of Constellation Brands 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 sale, the insider now owns 54,461 shares of the company’s stock, valued at approximately $13,629,409.86. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 16.19% of the stock is owned by insiders.

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