Allstate Corp Boosts Holdings in Constellation Brands Inc $STZ

Allstate Corp lifted its stake in Constellation Brands Inc (NYSE:STZ) by 92.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,866 shares of the company’s stock after purchasing an additional 5,230 shares during the quarter. Allstate Corp’s holdings in Constellation Brands were worth $1,499,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of the stock. Brighton Jones LLC grew its stake in shares of Constellation Brands by 23.0% during the 4th quarter. Brighton Jones LLC now owns 1,001 shares of the company’s stock valued at $221,000 after acquiring an additional 187 shares during the period. Woodline Partners LP bought a new position in shares of Constellation Brands during the 1st quarter valued at approximately $2,409,000. Cary Street Partners Financial LLC grew its stake in shares of Constellation Brands by 69.9% during the 2nd quarter. Cary Street Partners Financial LLC now owns 1,026 shares of the company’s stock valued at $167,000 after acquiring an additional 422 shares during the period. Bank of Nova Scotia grew its stake in shares of Constellation Brands by 3.6% during the 2nd quarter. Bank of Nova Scotia now owns 17,347 shares of the company’s stock valued at $2,822,000 after acquiring an additional 599 shares during the period. Finally, Daiwa Securities Group Inc. grew its stake in shares of Constellation Brands by 5.0% during the 2nd quarter. Daiwa Securities Group Inc. now owns 23,732 shares of the company’s stock valued at $3,861,000 after acquiring an additional 1,127 shares during the period. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Insider Buying and Selling at Constellation Brands

In other news, EVP James O. Bourdeau sold 4,407 shares of the business’s stock in a transaction dated 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 owned 9,109 shares in the company, valued at approximately $1,304,773.16. The trade was a 32.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 12.45% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Bank of America lowered their target price on shares of Constellation Brands from $154.00 to $152.00 and set an “underperform” rating on the stock in a report on Thursday. Royal Bank Of Canada reissued an “outperform” rating and issued a $185.00 target price on shares of Constellation Brands in a report on Friday, April 10th. Weiss Ratings reissued a “hold (c-)” rating on shares of Constellation Brands in a report on Monday, May 4th. Barclays increased their target price on Constellation Brands from $151.00 to $170.00 and gave the company an “equal weight” rating in a research report on Friday, April 10th. Finally, Wells Fargo & Company increased their target price on Constellation Brands from $180.00 to $185.00 and gave the company an “overweight” rating in a research report on Friday, April 10th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $175.26.

Constellation Brands Price Performance

STZ opened at $138.78 on Friday. Constellation Brands Inc has a 12-month low of $126.45 and a 12-month high of $180.41. The business’s fifty day simple moving average is $152.10 and its 200-day simple moving average is $149.14. The company has a market capitalization of $23.90 billion, a price-to-earnings ratio of 14.47, a PEG ratio of 3.12 and a beta of 0.43. The company has a current ratio of 1.08, a quick ratio of 0.55 and a debt-to-equity ratio of 1.16.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings data on Wednesday, April 8th. The company reported $1.90 earnings per share for the quarter, beating 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 company had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter last year, the company earned $2.63 earnings per share. The firm’s revenue for the quarter was down 11.3% compared to the same quarter last year. On average, equities research analysts anticipate that Constellation Brands Inc will post 11.9 earnings per share for the current fiscal year.

Constellation Brands Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Wednesday, April 29th were paid a dividend of $1.03 per share. The ex-dividend date was Wednesday, April 29th. This is a positive change from Constellation Brands’s previous quarterly dividend of $1.02. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.0%. Constellation Brands’s payout ratio is presently 42.96%.

Constellation Brands Company Profile

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.