NewEdge Wealth LLC Increases Holdings in Constellation Brands, Inc. (NYSE:STZ)

NewEdge Wealth LLC boosted its stake in Constellation Brands, Inc. (NYSE:STZ) by 148.7% in the 4th quarter, Holdings Channel reports. The firm owned 2,238 shares of the company’s stock after buying an additional 1,338 shares during the quarter. NewEdge Wealth LLC’s holdings in Constellation Brands were worth $541,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Kestra Private Wealth Services LLC raised its holdings in shares of Constellation Brands by 17.2% during the 3rd quarter. Kestra Private Wealth Services LLC now owns 17,218 shares of the company’s stock valued at $4,327,000 after buying an additional 2,526 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of Constellation Brands by 15.3% during the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 32,433 shares of the company’s stock valued at $8,151,000 after purchasing an additional 4,311 shares during the period. Perigon Wealth Management LLC lifted its position in shares of Constellation Brands by 46.0% during the fourth quarter. Perigon Wealth Management LLC now owns 6,012 shares of the company’s stock worth $1,453,000 after purchasing an additional 1,893 shares in the last quarter. CoreCap Advisors LLC boosted its stake in shares of Constellation Brands by 35.8% in the fourth quarter. CoreCap Advisors LLC now owns 2,002 shares of the company’s stock valued at $484,000 after purchasing an additional 528 shares during the period. Finally, Ascent Wealth Partners LLC acquired a new stake in Constellation Brands during the 4th quarter valued at $962,000. 77.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Barclays boosted their price objective on shares of Constellation Brands from $294.00 to $295.00 and gave the stock an “overweight” rating in a report on Monday. Wedbush reissued an “outperform” rating and issued a $300.00 price target on shares of Constellation Brands in a report on Wednesday, April 10th. Argus upgraded Constellation Brands from a “hold” rating to a “buy” rating and set a $306.00 price objective on the stock in a report on Monday. HSBC increased their target price on Constellation Brands from $290.00 to $300.00 and gave the company a “buy” rating in a research note on Friday, April 12th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Constellation Brands from $309.00 to $301.00 and set an “overweight” rating for the company in a research note on Thursday, December 21st. Three research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $298.55.

Constellation Brands Stock Performance

STZ stock opened at $257.78 on Wednesday. Constellation Brands, Inc. has a 1 year low of $221.81 and a 1 year high of $274.87. The stock has a market capitalization of $47.13 billion, a price-to-earnings ratio of 27.48, a PEG ratio of 1.78 and a beta of 0.97. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.53 and a current ratio of 1.19. The stock’s fifty day moving average is $257.25 and its two-hundred day moving average is $247.05.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings data on Thursday, April 11th. The company reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.10 by $0.16. Constellation Brands had a net margin of 16.13% and a return on equity of 23.06%. The firm had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.09 billion. During the same period last year, the firm posted $1.98 EPS. Constellation Brands’s quarterly revenue was up 7.1% compared to the same quarter last year. On average, research analysts predict that Constellation Brands, Inc. will post 13.43 EPS for the current year.

Constellation Brands Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Friday, May 3rd will be paid a dividend of $1.01 per share. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $4.04 annualized dividend and a yield of 1.57%. This is an increase from Constellation Brands’s previous quarterly dividend of $0.89. Constellation Brands’s payout ratio is presently 37.95%.

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 Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Victoria, Vicky Chamoy, and Pacifico brands.