Define Financial LLC Makes New Investment in Constellation Brands, Inc. (NYSE:STZ)

Define Financial LLC purchased a new stake in shares of Constellation Brands, Inc. (NYSE:STZ) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 2,154 shares of the company’s stock, valued at approximately $476,000. Constellation Brands accounts for about 0.4% of Define Financial LLC’s investment portfolio, making the stock its 14th biggest position.

A number of other hedge funds and other institutional investors also recently modified their holdings of STZ. Acadian Asset Management LLC grew its holdings in Constellation Brands by 494.8% during the second quarter. Acadian Asset Management LLC now owns 3,789 shares of the company’s stock worth $973,000 after acquiring an additional 3,152 shares during the period. Ashton Thomas Private Wealth LLC bought a new position in shares of Constellation Brands during the 2nd quarter valued at about $36,000. Oppenheimer & Co. Inc. grew its stake in shares of Constellation Brands by 13.1% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 9,481 shares of the company’s stock worth $2,439,000 after purchasing an additional 1,096 shares during the last quarter. DekaBank Deutsche Girozentrale raised its holdings in shares of Constellation Brands by 13.2% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 30,998 shares of the company’s stock worth $7,940,000 after purchasing an additional 3,613 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its stake in Constellation Brands by 5.0% during the second quarter. Oppenheimer Asset Management Inc. now owns 7,567 shares of the company’s stock valued at $1,947,000 after purchasing an additional 359 shares during the last quarter. Institutional investors own 77.34% of the company’s stock.

Insider Activity

In other news, EVP James A. Jr. Sabia sold 36,086 shares of the business’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $242.99, for a total value of $8,768,537.14. Following the completion of the sale, the executive vice president now directly owns 16,042 shares in the company, valued at approximately $3,898,045.58. The trade was a 69.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Wildstar Partners Llc sold 660 shares of the firm’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $241.00, for a total transaction of $159,060.00. Following the completion of the transaction, the insider now owns 1,736,884 shares in the company, valued at $418,589,044. The trade was a 0.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 69,172 shares of company stock worth $16,778,841. 12.19% of the stock is owned by corporate insiders.

Constellation Brands Stock Down 2.0 %

Constellation Brands stock opened at $182.18 on Wednesday. Constellation Brands, Inc. has a twelve month low of $176.51 and a twelve month high of $274.87. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.53 and a current ratio of 1.25. The firm has a market cap of $33.08 billion, a PE ratio of 58.96, a P/E/G ratio of 1.69 and a beta of 1.75. The firm’s 50 day moving average price is $229.71 and its two-hundred day moving average price is $240.26.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings data on Friday, January 10th. The company reported $3.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.33 by ($0.08). The firm had revenue of $2.46 billion for the quarter, compared to analysts’ expectations of $2.53 billion. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. Constellation Brands’s revenue was down .3% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.19 earnings per share. On average, research analysts predict that Constellation Brands, Inc. will post 13.57 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Friday, February 7th will be given a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 2.22%. The ex-dividend date of this dividend is Friday, February 7th. Constellation Brands’s payout ratio is presently 130.74%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Truist Financial decreased their price target on shares of Constellation Brands from $255.00 to $190.00 and set a “hold” rating on the stock in a research report on Tuesday. Needham & Company LLC restated a “buy” rating and issued a $280.00 target price on shares of Constellation Brands in a report on Friday, January 10th. Piper Sandler cut their target price on Constellation Brands from $300.00 to $245.00 and set an “overweight” rating on the stock in a research report on Monday. BNP Paribas started coverage on Constellation Brands in a research report on Monday, November 25th. They issued a “neutral” rating and a $261.00 price target for the company. Finally, Evercore ISI dropped their price target on Constellation Brands from $300.00 to $250.00 and set an “outperform” rating on the stock in a research note on Monday. Eight research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $261.40.

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 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.