Easterly Investment Partners LLC Has $1.33 Million Position in Constellation Brands Inc $STZ

Easterly Investment Partners LLC boosted its stake in shares of Constellation Brands Inc (NYSE:STZ) by 77.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,647 shares of the company’s stock after acquiring an additional 4,218 shares during the quarter. Easterly Investment Partners LLC’s holdings in Constellation Brands were worth $1,331,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of STZ. Stance Capital LLC acquired a new stake in shares of Constellation Brands in the third quarter valued at $26,000. GoalVest Advisory LLC acquired a new stake in shares of Constellation Brands in the fourth quarter valued at $28,000. Elyxium Wealth LLC acquired a new stake in shares of Constellation Brands in the fourth quarter valued at $33,000. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in shares of Constellation Brands in the fourth quarter valued at $39,000. Finally, Accredited Wealth Management LLC increased its stake in shares of Constellation Brands by 572.3% in the third quarter. Accredited Wealth Management LLC now owns 316 shares of the company’s stock valued at $43,000 after buying an additional 269 shares in the last quarter. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP James O. Bourdeau sold 4,407 shares of Constellation Brands stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $143.24, for a total transaction of $631,258.68. Following the transaction, the executive vice president owned 9,109 shares of the company’s stock, valued at $1,304,773.16. The trade was a 32.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 12.45% of the company’s stock.

Constellation Brands Trading Down 1.8%

Shares of Constellation Brands stock opened at $136.39 on Tuesday. Constellation Brands Inc has a 12-month low of $126.45 and a 12-month high of $178.55. The stock has a market cap of $23.49 billion, a P/E ratio of 14.22, a P/E/G ratio of 3.21 and a beta of 0.39. The company has a quick ratio of 0.55, a current ratio of 1.08 and a debt-to-equity ratio of 1.16. The business’s 50 day moving average is $151.78 and its 200-day moving average is $149.31.

Constellation Brands (NYSE:STZ) last posted its earnings results on Wednesday, April 8th. The company reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.71 by $0.19. Constellation Brands had a return on equity of 26.18% and a net margin of 17.29%.The business had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same period in the previous year, the firm earned $2.63 EPS. The firm’s revenue was down 11.3% compared to the same quarter last year. Equities research analysts predict that Constellation Brands Inc will post 11.9 earnings per share for the current fiscal year.

Constellation Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Wednesday, April 29th were paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 3.0%. This is a boost from Constellation Brands’s previous quarterly dividend of $1.02. The ex-dividend date of this dividend was Wednesday, April 29th. Constellation Brands’s payout ratio is 42.96%.

Analyst Ratings Changes

A number of brokerages recently commented on STZ. Citigroup reiterated a “buy” rating on shares of Constellation Brands in a research report on Monday, May 18th. Roth Mkm reiterated a “buy” rating on shares of Constellation Brands in a research report on Thursday, April 9th. Evercore set a $175.00 price objective on Constellation Brands and gave the stock an “outperform” rating in a research report on Friday, April 10th. Bank of America lowered their price objective on Constellation Brands from $154.00 to $152.00 and set an “underperform” rating for the company in a research report on Thursday, May 28th. Finally, JPMorgan Chase & Co. lifted their price objective on Constellation Brands from $155.00 to $163.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 1st. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Constellation Brands currently has an average rating of “Moderate Buy” and an average price target of $175.26.

About Constellation Brands

Constellation Brands, Inc is a leading producer and marketer of beer, wine and spirits, with operations spanning production, importation, marketing and distribution. The company’s beverage portfolio includes a range of premium and mainstream wines and spirits alongside major imported beer brands; in the U.S. market Constellation is widely known for its role in bringing Mexican imports such as Corona and Modelo to American consumers. Constellation supplies retail, on‑premise and foodservice channels and supports its brands with national sales and marketing platforms and supply‑chain capabilities.

The company traces its roots to the Canandaigua Wine Company, founded by Marvin Sands in 1945, and evolved through organic growth and acquisition into a diversified beverage company.