New York Life Investment Management LLC Boosts Holdings in Constellation Brands, Inc. (NYSE:STZ)

New York Life Investment Management LLC raised its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 0.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,981 shares of the company’s stock after purchasing an additional 88 shares during the period. New York Life Investment Management LLC’s holdings in Constellation Brands were worth $4,637,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Heritage Investors Management Corp lifted its stake in shares of Constellation Brands by 7.7% in the fourth quarter. Heritage Investors Management Corp now owns 128,316 shares of the company’s stock worth $28,358,000 after buying an additional 9,218 shares in the last quarter. Whipplewood Advisors LLC purchased a new position in shares of Constellation Brands in the fourth quarter worth about $36,000. Checchi Capital Advisers LLC lifted its stake in shares of Constellation Brands by 10.2% in the fourth quarter. Checchi Capital Advisers LLC now owns 2,235 shares of the company’s stock worth $494,000 after buying an additional 207 shares in the last quarter. Gibraltar Capital Management Inc. lifted its stake in shares of Constellation Brands by 2.4% in the fourth quarter. Gibraltar Capital Management Inc. now owns 26,299 shares of the company’s stock worth $5,812,000 after buying an additional 609 shares in the last quarter. Finally, Vaughan David Investments LLC IL lifted its stake in shares of Constellation Brands by 3.4% in the fourth quarter. Vaughan David Investments LLC IL now owns 147,288 shares of the company’s stock worth $32,551,000 after buying an additional 4,903 shares in the last quarter. 77.34% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Constellation Brands news, Director William T. Giles acquired 1,000 shares of the stock in a transaction dated Friday, January 17th. The stock was acquired at an average price of $186.39 per share, with a total value of $186,390.00. Following the completion of the purchase, the director now owns 1,463 shares in the company, valued at $272,688.57. This trade represents a 215.98 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 12.19% of the company’s stock.

Constellation Brands Trading Up 1.4 %

NYSE STZ opened at $175.74 on Friday. The firm has a 50 day simple moving average of $189.00 and a 200-day simple moving average of $223.72. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.46 and a current ratio of 1.10. Constellation Brands, Inc. has a one year low of $160.46 and a one year high of $274.87. The firm has a market cap of $31.76 billion, a price-to-earnings ratio of 47.24, a PEG ratio of 1.52 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last posted 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). 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 period in the previous year, the business posted $3.19 EPS. The company’s revenue for the quarter was down .3% compared to the same quarter last year. Equities research analysts anticipate that Constellation Brands, Inc. will post 13.5 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 7th were paid a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 2.30%. The ex-dividend date was Friday, February 7th. Constellation Brands’s payout ratio is 108.60%.

Analysts Set New Price Targets

STZ has been the topic of several research reports. Piper Sandler downgraded shares of Constellation Brands from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $245.00 to $200.00 in a research note on Monday, February 3rd. Royal Bank of Canada reissued an “outperform” rating and issued a $293.00 price target on shares of Constellation Brands in a research note on Monday, February 3rd. UBS Group cut their price objective on shares of Constellation Brands from $265.00 to $223.00 and set a “buy” rating for the company in a research report on Friday, January 17th. TD Cowen cut their price objective on shares of Constellation Brands from $270.00 to $260.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. Finally, Argus cut shares of Constellation Brands from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Constellation Brands currently has a consensus rating of “Hold” and an average price target of $253.43.

Constellation Brands 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.