Janney Montgomery Scott LLC Grows Holdings in Constellation Brands, Inc. (NYSE:STZ)

Janney Montgomery Scott LLC grew its stake in Constellation Brands, Inc. (NYSE:STZ) by 2.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 138,024 shares of the company’s stock after acquiring an additional 2,927 shares during the period. Janney Montgomery Scott LLC’s holdings in Constellation Brands were worth $30,504,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Versant Capital Management Inc raised its stake in shares of Constellation Brands by 887.5% in the 4th quarter. Versant Capital Management Inc now owns 158 shares of the company’s stock valued at $35,000 after acquiring an additional 142 shares during the period. Eastern Bank acquired a new position in shares of Constellation Brands in the third quarter valued at approximately $39,000. FSA Wealth Management LLC acquired a new position in shares of Constellation Brands in the third quarter valued at approximately $42,000. Truvestments Capital LLC acquired a new position in shares of Constellation Brands in the third quarter valued at approximately $60,000. Finally, Continuum Advisory LLC grew its holdings in shares of Constellation Brands by 68.0% in the third quarter. Continuum Advisory LLC now owns 252 shares of the company’s stock valued at $61,000 after purchasing an additional 102 shares in the last quarter. 77.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on STZ. StockNews.com cut shares of Constellation Brands from a “hold” rating to a “sell” rating in a report on Friday, January 17th. Piper Sandler dropped their price objective on shares of Constellation Brands from $300.00 to $245.00 and set an “overweight” rating for the company in a report on Monday, January 13th. Royal Bank of Canada restated an “outperform” rating and issued a $308.00 price objective on shares of Constellation Brands in a report on Tuesday, January 7th. BNP Paribas began coverage on shares of Constellation Brands in a report on Monday, November 25th. They issued a “neutral” rating and a $261.00 price objective for the company. Finally, Barclays lowered their price target on shares of Constellation Brands from $282.00 to $214.00 and set an “overweight” rating for the company in a report on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $259.05.

Constellation Brands Stock Up 1.9 %

STZ stock opened at $182.99 on Friday. The company has a fifty day moving average price of $222.11 and a 200 day moving average price of $236.92. Constellation Brands, Inc. has a 12 month low of $176.51 and a 12 month high of $274.87. The company has a market cap of $33.07 billion, a price-to-earnings ratio of 49.19, a price-to-earnings-growth ratio of 1.58 and a beta of 0.91. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.10 and a quick ratio of 0.46.

Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Friday, January 10th. The company reported $3.25 EPS for the quarter, missing the consensus estimate of $3.33 by ($0.08). Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. The business had revenue of $2.46 billion during the quarter, compared to analysts’ expectations of $2.53 billion. During the same quarter last year, the company earned $3.19 EPS. The firm’s revenue for the quarter was down .3% compared to the same quarter last year. Sell-side analysts expect that Constellation Brands, Inc. will post 13.52 earnings per share for the current year.

Constellation Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Friday, February 7th will be given a $1.01 dividend. The ex-dividend date is Friday, February 7th. This represents a $4.04 annualized dividend and a yield of 2.21%. Constellation Brands’s dividend payout ratio (DPR) is 108.60%.

Insider Activity at Constellation Brands

In other news, Director William T. Giles acquired 1,000 shares of the business’s stock in a transaction on Friday, January 17th. The stock was bought at an average price of $186.39 per share, for a total transaction of $186,390.00. Following the transaction, the director now owns 1,463 shares in the company, valued at $272,688.57. This represents a 215.98 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO William A. Newlands sold 7,426 shares of the company’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $237.24, for a total transaction of $1,761,744.24. Following the transaction, the chief executive officer now owns 7,274 shares of the company’s stock, valued at approximately $1,725,683.76. The trade was a 50.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 69,172 shares of company stock worth $16,778,841 in the last 90 days. 12.19% of the stock is owned by insiders.

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.