Constellation Brands Inc $STZ Shares Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp boosted its holdings in Constellation Brands Inc (NYSE:STZ) by 12.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,002,527 shares of the company’s stock after buying an additional 110,589 shares during the period. Bank of New York Mellon Corp’s holdings in Constellation Brands were worth $138,309,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Bruce G. Allen Investments LLC raised its holdings in shares of Constellation Brands by 74.9% in the 4th quarter. Bruce G. Allen Investments LLC now owns 306 shares of the company’s stock worth $42,000 after purchasing an additional 131 shares during the period. Natixis Advisors LLC raised its holdings in shares of Constellation Brands by 107.0% in the 4th quarter. Natixis Advisors LLC now owns 95,727 shares of the company’s stock worth $13,206,000 after purchasing an additional 49,491 shares during the period. Easterly Investment Partners LLC raised its holdings in shares of Constellation Brands by 77.7% in the 4th quarter. Easterly Investment Partners LLC now owns 9,647 shares of the company’s stock worth $1,331,000 after purchasing an additional 4,218 shares during the period. Ellevest Inc. raised its holdings in shares of Constellation Brands by 20.6% in the 4th quarter. Ellevest Inc. now owns 2,462 shares of the company’s stock worth $340,000 after purchasing an additional 421 shares during the period. Finally, Thompson Siegel & Walmsley LLC raised its holdings in shares of Constellation Brands by 12.0% in the 4th quarter. Thompson Siegel & Walmsley LLC now owns 362,808 shares of the company’s stock worth $50,053,000 after purchasing an additional 38,959 shares during the period. 77.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

STZ has been the topic of a number of research reports. Evercore set a $175.00 price objective on Constellation Brands and gave the stock an “outperform” rating in a report on Friday, April 10th. Weiss Ratings restated a “hold (c-)” rating on shares of Constellation Brands in a report on Monday, May 4th. TD Cowen upgraded Constellation Brands from a “hold” rating to a “buy” rating and raised their price objective for the stock from $142.00 to $190.00 in a report on Monday, April 13th. Wells Fargo & Company raised their target price on Constellation Brands from $180.00 to $185.00 and gave the company an “overweight” rating in a report on Friday, April 10th. Finally, Piper Sandler raised their target price on Constellation Brands from $146.00 to $160.00 and gave the company a “neutral” rating in a report on Friday, April 10th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Constellation Brands presently has a consensus rating of “Moderate Buy” and an average price target of $175.26.

Constellation Brands Stock Performance

Shares of NYSE:STZ opened at $141.11 on Friday. The company has a market cap of $24.30 billion, a P/E ratio of 14.71, a PEG ratio of 3.26 and a beta of 0.39. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.55 and a current ratio of 1.08. Constellation Brands Inc has a one year low of $126.45 and a one year high of $178.13. The business’s 50-day simple moving average is $150.69 and its 200 day simple moving average is $149.41.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings data on Wednesday, April 8th. The company reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.71 by $0.19. Constellation Brands had a return on equity of 26.18% and a net margin of 17.29%.The company had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same period in the previous year, the business earned $2.63 EPS. Constellation Brands’s revenue for the quarter was down 11.3% compared to the same quarter last year. On average, sell-side analysts forecast that Constellation Brands Inc will post 11.87 earnings per share for the current fiscal year.

Constellation Brands Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Wednesday, April 29th were issued a dividend of $1.03 per share. The ex-dividend date was Wednesday, April 29th. This represents a $4.12 annualized dividend and a yield of 2.9%. This is a boost from Constellation Brands’s previous quarterly dividend of $1.02. Constellation Brands’s dividend payout ratio (DPR) is presently 42.96%.

Insider Transactions at Constellation Brands

In other Constellation Brands 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 sale, the executive vice president directly owned 9,109 shares in the company, valued at $1,304,773.16. The trade was a 32.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 12.45% of the stock is owned by corporate insiders.

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.