43,400 Shares in Constellation Brands, Inc. (NYSE:STZ) Purchased by Madison Investment Advisors LLC

Madison Investment Advisors LLC acquired a new position in shares of Constellation Brands, Inc. (NYSE:STZ) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 43,400 shares of the company’s stock, valued at approximately $9,591,000.

A number of other hedge funds have also modified their holdings of the company. State Street Corp grew its holdings in shares of 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 buying an additional 402,211 shares in the last quarter. Janus Henderson Group PLC grew its holdings in shares of Constellation Brands by 1.2% during the third quarter. Janus Henderson Group PLC now owns 1,853,081 shares of the company’s stock worth $477,515,000 after buying an additional 21,454 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Constellation Brands by 2.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,782,964 shares of the company’s stock worth $394,035,000 after buying an additional 38,786 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of Constellation Brands by 1,844.7% during the fourth quarter. Van ECK Associates Corp now owns 924,274 shares of the company’s stock worth $204,265,000 after buying an additional 876,745 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Constellation Brands during the fourth quarter worth about $105,766,000. 77.34% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on STZ. Needham & Company LLC restated a “buy” rating and issued a $240.00 price target on shares of Constellation Brands in a research note on Monday, January 27th. Royal Bank of Canada decreased their price target on Constellation Brands from $293.00 to $289.00 and set an “outperform” rating for the company in a research note on Friday, March 7th. Evercore ISI decreased their price target on Constellation Brands from $300.00 to $250.00 and set an “outperform” rating for the company in a research note on Monday, January 13th. Jefferies Financial Group restated a “hold” rating and issued a $201.00 price target (down from $310.00) on shares of Constellation Brands in a research note on Monday, January 13th. Finally, Piper Sandler downgraded Constellation Brands from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $245.00 to $200.00 in a research note on Monday, February 3rd. One analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Constellation Brands currently has an average rating of “Hold” and an average price target of $250.41.

Constellation Brands Stock Performance

NYSE:STZ opened at $177.73 on Friday. The stock has a market cap of $32.12 billion, a P/E ratio of 47.78, a PEG ratio of 1.52 and a beta of 1.75. The stock has a 50 day simple moving average of $177.32 and a 200 day simple moving average of $217.28. The company has a current ratio of 1.10, a quick ratio of 0.46 and a debt-to-equity ratio of 1.26. Constellation Brands, Inc. has a 1-year low of $160.46 and a 1-year high of $274.87.

Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Friday, January 10th. The company reported $3.25 earnings per share 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 analyst estimates of $2.53 billion. Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The business’s revenue for the quarter was down .3% on a year-over-year basis. During the same period in the previous year, the business posted $3.19 earnings per share. Research analysts anticipate that Constellation Brands, Inc. will post 13.5 earnings per share for the current year.

Constellation Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 7th were issued a $1.01 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $4.04 annualized dividend and a yield of 2.27%. Constellation Brands’s dividend payout ratio is presently 108.60%.

Insider Buying and Selling at Constellation Brands

In related news, Director William T. Giles acquired 1,000 shares of the company’s stock in a transaction on Friday, January 17th. The stock was purchased at an average cost of $186.39 per share, with a total value of $186,390.00. Following the acquisition, the director now directly owns 1,463 shares of the company’s stock, valued at approximately $272,688.57. The trade was a 215.98 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 12.19% of the company’s stock.

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.