Elevate Capital Advisors LLC Takes Position in Constellation Brands, Inc. (NYSE:STZ)

Elevate Capital Advisors LLC bought a new position in Constellation Brands, Inc. (NYSE:STZ) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 3,589 shares of the company’s stock, valued at approximately $793,000.

Other hedge funds have also added to or reduced their stakes in the company. State Street Corp grew its holdings in shares of Constellation Brands by 6.0% in the third quarter. State Street Corp now owns 7,144,428 shares of the company’s stock worth $1,841,048,000 after purchasing an additional 402,211 shares during the last quarter. Janus Henderson Group PLC boosted its position in Constellation Brands by 1.2% during the 3rd quarter. Janus Henderson Group PLC now owns 1,853,081 shares of the company’s stock valued at $477,515,000 after buying an additional 21,454 shares during the period. International Assets Investment Management LLC grew its holdings in Constellation Brands by 23,184.7% in the 3rd quarter. International Assets Investment Management LLC now owns 499,689 shares of the company’s stock worth $128,765,000 after acquiring an additional 497,543 shares during the last quarter. National Pension Service increased its position in shares of Constellation Brands by 13.6% in the third quarter. National Pension Service now owns 381,755 shares of the company’s stock valued at $98,374,000 after acquiring an additional 45,707 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its stake in shares of Constellation Brands by 66.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 369,966 shares of the company’s stock valued at $81,762,000 after acquiring an additional 147,457 shares during the last quarter. 77.34% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on STZ. Jefferies Financial Group reissued a “hold” rating and issued a $201.00 target price (down from $310.00) on shares of Constellation Brands in a research note on Monday, January 13th. Truist Financial cut their price objective on Constellation Brands from $255.00 to $190.00 and set a “hold” rating on the stock in a research report on Tuesday, January 14th. Roth Capital decreased their target price on Constellation Brands from $298.00 to $284.00 and set a “buy” rating for the company in a report on Friday, January 17th. UBS Group cut their price target on shares of Constellation Brands from $265.00 to $223.00 and set a “buy” rating on the stock in a report on Friday, January 17th. Finally, Evercore ISI decreased their price objective on shares of Constellation Brands from $300.00 to $250.00 and set an “outperform” rating for the company in a report on Monday, January 13th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $254.29.

Insider Activity at Constellation Brands

In other Constellation Brands news, major shareholder Wildstar Partners Llc sold 660 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $241.00, for a total value of $159,060.00. Following the completion of the transaction, the insider now owns 1,736,884 shares of the company’s stock, valued at approximately $418,589,044. The trade was a 0.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP James A. Jr. Sabia sold 36,086 shares of the firm’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $242.99, for a total transaction of $8,768,537.14. Following 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 position. The disclosure for this sale can be found here. In the last three months, insiders have sold 61,746 shares of company stock valued at $15,017,097. 12.19% of the stock is owned by corporate insiders.

Constellation Brands Trading Down 1.1 %

NYSE STZ opened at $169.05 on Monday. Constellation Brands, Inc. has a 12 month low of $166.02 and a 12 month high of $274.87. The company has a current ratio of 1.10, a quick ratio of 0.46 and a debt-to-equity ratio of 1.26. The stock’s fifty day moving average price is $208.85 and its 200-day moving average price is $231.27. The stock has a market cap of $30.55 billion, a P/E ratio of 45.44, a P/E/G ratio of 1.51 and a beta of 0.90.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings data on Friday, January 10th. The company reported $3.25 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 net margin of 6.27% and a return on equity of 26.55%. The business’s revenue for the quarter was down .3% compared to the same quarter last year. During the same period last year, the company posted $3.19 earnings per share. As a group, equities analysts forecast that Constellation Brands, Inc. will post 13.5 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Friday, February 7th will be issued a $1.01 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $4.04 dividend on an annualized basis and a yield of 2.39%. Constellation Brands’s payout ratio is currently 108.60%.

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.