Constellation Brands, Inc. (NYSE:STZ) Shares Bought by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. boosted its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 35.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,802 shares of the company’s stock after buying an additional 3,321 shares during the period. Oppenheimer & Co. Inc.’s holdings in Constellation Brands were worth $3,299,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in STZ. Manning & Napier Advisors LLC acquired a new position in Constellation Brands in the 2nd quarter valued at $119,394,000. Vanguard Group Inc. grew its holdings in shares of Constellation Brands by 3.5% during the first quarter. Vanguard Group Inc. now owns 13,705,793 shares of the company’s stock worth $3,724,686,000 after buying an additional 462,891 shares in the last quarter. Capital International Sarl raised its position in shares of Constellation Brands by 35.9% in the first quarter. Capital International Sarl now owns 10,462 shares of the company’s stock valued at $2,843,000 after buying an additional 2,764 shares during the last quarter. Clearbridge Investments LLC raised its position in shares of Constellation Brands by 1.1% in the first quarter. Clearbridge Investments LLC now owns 503,058 shares of the company’s stock valued at $136,711,000 after buying an additional 5,302 shares during the last quarter. Finally, Swedbank AB purchased a new position in shares of Constellation Brands in the first quarter worth about $561,000. Institutional investors and hedge funds own 77.34% of the company’s stock.

Wall Street Analysts Forecast Growth

STZ has been the subject of a number of recent research reports. UBS Group cut their price objective on shares of Constellation Brands from $320.00 to $295.00 and set a “buy” rating for the company in a report on Monday, September 9th. Morgan Stanley cut their price target on Constellation Brands from $305.00 to $280.00 and set an “overweight” rating for the company in a report on Monday, August 26th. TD Cowen lowered Constellation Brands from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $300.00 to $270.00 in a research note on Tuesday, October 8th. Truist Financial cut their target price 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, Barclays reduced their price target on Constellation Brands from $309.00 to $300.00 and set an “overweight” rating on the stock in a report on Monday, October 7th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $290.47.

Insider Activity

In other Constellation Brands news, Director Robert Sands sold 119,274 shares of the stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $242.37, for a total value of $28,908,439.38. Following the sale, the director now owns 431,729 shares of the company’s stock, valued at $104,638,157.73. This trade represents a 21.65 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Samuel J. Glaetzer sold 1,510 shares of Constellation Brands stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $245.57, for a total value of $370,810.70. Following the completion of the transaction, the executive vice president now owns 4,970 shares of the company’s stock, valued at $1,220,482.90. The trade was a 23.30 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 189,296 shares of company stock valued at $45,899,031. 12.19% of the stock is currently owned by company insiders.

Constellation Brands Stock Down 1.9 %

Constellation Brands stock opened at $237.51 on Friday. The company has a market capitalization of $43.12 billion, a PE ratio of 76.86, a price-to-earnings-growth ratio of 1.70 and a beta of 0.90. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.53 and a current ratio of 1.25. Constellation Brands, Inc. has a fifty-two week low of $224.76 and a fifty-two week high of $274.87. The firm has a 50 day moving average price of $244.36 and a 200 day moving average price of $248.25.

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 business had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.95 billion. During the same period in the previous year, the firm posted $3.70 earnings per share. The company’s revenue was up 2.9% on a year-over-year basis. Research analysts expect that Constellation Brands, Inc. will post 13.57 earnings per share for the current year.

Constellation Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th will be given a dividend of $1.01 per share. The ex-dividend date is Tuesday, November 5th. This represents a $4.04 annualized dividend and a dividend yield of 1.70%. 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.