Cobblestone Capital Advisors LLC NY Has $2.26 Million Stake in Constellation Brands, Inc. (NYSE:STZ)

Cobblestone Capital Advisors LLC NY grew its stake in Constellation Brands, Inc. (NYSE:STZ) by 3.9% during the third quarter, Holdings Channel reports. The firm owned 8,785 shares of the company’s stock after purchasing an additional 330 shares during the period. Cobblestone Capital Advisors LLC NY’s holdings in Constellation Brands were worth $2,264,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of STZ. New Millennium Group LLC bought a new position in shares of Constellation Brands during the second quarter valued at about $25,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Constellation Brands in the 2nd quarter worth approximately $29,000. Horizon Bancorp Inc. IN bought a new position in shares of Constellation Brands in the second quarter valued at approximately $32,000. LRI Investments LLC bought a new stake in Constellation Brands during the first quarter worth $37,000. Finally, Opal Wealth Advisors LLC purchased a new position in Constellation Brands in the second quarter worth $36,000. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. TD Cowen lowered Constellation Brands from a “buy” rating to a “hold” rating and decreased their target price for the company from $300.00 to $270.00 in a research report on Tuesday, October 8th. Bank of America restated a “neutral” rating and set a $255.00 price objective (down previously from $300.00) on shares of Constellation Brands in a report on Monday, October 7th. Truist Financial dropped their target price on shares of Constellation Brands from $265.00 to $255.00 and set a “hold” rating on the stock in a research note on Friday, October 4th. BNP Paribas assumed coverage on shares of Constellation Brands in a report on Monday, November 25th. They issued a “neutral” rating and a $261.00 price target on the stock. Finally, JPMorgan Chase & Co. reduced their price objective on Constellation Brands from $307.00 to $293.00 and set an “overweight” rating for the company in a report on Friday, October 4th. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $289.16.

Insider Buying and Selling at Constellation Brands

In related news, major shareholder Wildstar Partners Llc sold 660 shares of Constellation Brands stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $241.00, for a total value of $159,060.00. Following the transaction, the insider now directly owns 1,736,884 shares of the company’s stock, valued at $418,589,044. The trade was a 0.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO William A. Newlands sold 7,426 shares of the business’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $237.24, for a total transaction of $1,761,744.24. Following the completion of the transaction, the chief executive officer now owns 7,274 shares in the company, valued at $1,725,683.76. The trade was a 50.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 189,956 shares of company stock worth $46,058,091 over the last 90 days. Corporate insiders own 12.19% of the company’s stock.

Constellation Brands Stock Up 2.1 %

STZ opened at $240.95 on Friday. The firm has a market capitalization of $43.75 billion, a P/E ratio of 77.98, a price-to-earnings-growth ratio of 1.67 and a beta of 1.75. Constellation Brands, Inc. has a one year low of $224.76 and a one year high of $274.87. The company has a fifty day moving average price of $241.72 and a 200-day moving average price of $246.75. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.25 and a quick ratio of 0.53.

Constellation Brands (NYSE:STZ) last posted its earnings results on Thursday, October 3rd. The company reported $4.32 EPS for the quarter, topping the consensus estimate of $4.08 by $0.24. The business had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.95 billion. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The firm’s revenue was up 2.9% on a year-over-year basis. During the same period in the previous year, the business earned $3.70 earnings per share. Equities research analysts expect that Constellation Brands, Inc. will post 13.57 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Tuesday, November 5th were paid a $1.01 dividend. The ex-dividend date was Tuesday, November 5th. This represents a $4.04 dividend on an annualized basis and a yield of 1.68%. Constellation Brands’s dividend payout ratio is presently 130.74%.

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.