Briaud Financial Planning Inc Takes Position in Constellation Brands, Inc. (NYSE:STZ)

Briaud Financial Planning Inc purchased a new stake in Constellation Brands, Inc. (NYSE:STZ) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 500 shares of the company’s stock, valued at approximately $110,000.

Several other hedge funds have also modified their holdings of STZ. Van ECK Associates Corp lifted its holdings in shares of Constellation Brands by 1,844.7% in the 4th quarter. Van ECK Associates Corp now owns 924,274 shares of the company’s stock valued at $204,265,000 after buying an additional 876,745 shares during the period. Raymond James Financial Inc. acquired a new position in Constellation Brands during the fourth quarter worth $105,766,000. State Street Corp raised its holdings in Constellation Brands by 6.0% during 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. Amundi raised its holdings in Constellation Brands by 54.9% during the fourth quarter. Amundi now owns 453,180 shares of the company’s stock worth $99,373,000 after purchasing an additional 160,563 shares during the last quarter. Finally, OFI Invest Asset Management acquired a new position in Constellation Brands during the fourth quarter worth $31,656,000. 77.34% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Constellation Brands

In other news, Director William T. Giles bought 1,000 shares of Constellation Brands stock in a transaction that occurred on Friday, January 17th. The shares were purchased at an average price of $186.39 per share, for a total transaction of $186,390.00. Following the completion of the acquisition, the director now owns 1,463 shares of the company’s stock, valued at $272,688.57. The trade was a 215.98 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 12.19% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Truist Financial reduced their price objective on Constellation Brands from $255.00 to $190.00 and set a “hold” rating for the company in a report on Tuesday, January 14th. Wells Fargo & Company reduced their price objective on Constellation Brands from $295.00 to $275.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Jefferies Financial Group reaffirmed a “hold” rating and set a $201.00 price objective (down from $310.00) on shares of Constellation Brands in a report on Monday, January 13th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $203.00 price objective (down from $262.00) on shares of Constellation Brands in a report on Monday, January 13th. Finally, Royal Bank of Canada reduced their price objective on Constellation Brands from $293.00 to $289.00 and set an “outperform” rating for the company in a report on Friday. Eleven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $253.24.

Constellation Brands Price Performance

Shares of NYSE:STZ opened at $189.34 on Tuesday. The company has a market cap of $34.22 billion, a P/E ratio of 50.90, a P/E/G ratio of 1.52 and a beta of 1.75. The company has a quick ratio of 0.46, a current ratio of 1.10 and a debt-to-equity ratio of 1.26. Constellation Brands, Inc. has a 52 week low of $160.46 and a 52 week high of $274.87. The business has a fifty day simple moving average of $183.67 and a 200-day simple moving average of $220.75.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings data on Friday, January 10th. The company reported $3.25 EPS for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.08). The business had revenue of $2.46 billion during 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%. Constellation Brands’s revenue for the quarter was down .3% on a year-over-year basis. During the same period in the prior year, the firm earned $3.19 EPS. Equities research analysts forecast that Constellation Brands, Inc. will post 13.5 EPS for the current year.

Constellation Brands Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 7th were issued a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date was Friday, February 7th. Constellation Brands’s payout ratio is currently 108.60%.

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.