First Trust Direct Indexing L.P. Grows Stock Holdings in Constellation Brands, Inc. (NYSE:STZ)

First Trust Direct Indexing L.P. increased its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 22.2% in the fourth quarter, Holdings Channel reports. The firm owned 2,230 shares of the company’s stock after acquiring an additional 405 shares during the period. First Trust Direct Indexing L.P.’s holdings in Constellation Brands were worth $539,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. 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 boosted its stake in shares of Constellation Brands by 15.3% in 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 boosted its stake in shares of Constellation Brands by 46.0% in the fourth quarter. Perigon Wealth Management LLC now owns 6,012 shares of the company’s stock valued at $1,453,000 after purchasing an additional 1,893 shares during the period. CoreCap Advisors LLC grew its holdings in Constellation Brands by 35.8% during the 4th quarter. CoreCap Advisors LLC now owns 2,002 shares of the company’s stock valued at $484,000 after purchasing an additional 528 shares in the last quarter. Finally, Ascent Wealth Partners LLC acquired a new position in Constellation Brands in the 4th quarter worth $962,000. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Evercore ISI raised their target price on Constellation Brands from $300.00 to $310.00 and gave the company an “outperform” rating in a research note on Friday, April 12th. Piper Sandler started coverage on Constellation Brands in a research report on Friday, March 22nd. They issued an “overweight” rating and a $300.00 target price on the stock. Royal Bank of Canada raised their price target on shares of Constellation Brands from $295.00 to $308.00 and gave the stock an “outperform” rating in a research report on Friday, April 12th. Argus raised shares of Constellation Brands from a “hold” rating to a “buy” rating and set a $306.00 price target on the stock in a report on Monday, April 15th. Finally, Roth Mkm reissued a “buy” rating and set a $305.00 price objective on shares of Constellation Brands in a report on Friday, April 12th. Three research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat, Constellation Brands presently has a consensus rating of “Moderate Buy” and a consensus target price of $298.55.

Constellation Brands Price Performance

Shares of STZ opened at $256.08 on Monday. The stock’s 50-day moving average price is $260.83 and its two-hundred day moving average price is $248.87. The company has a current ratio of 1.19, a quick ratio of 0.53 and a debt-to-equity ratio of 1.06. The stock has a market cap of $46.82 billion, a P/E ratio of 27.30, a price-to-earnings-growth ratio of 1.73 and a beta of 0.95. Constellation Brands, Inc. has a 1 year low of $221.81 and a 1 year high of $274.87.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings data on Thursday, April 11th. The company reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.10 by $0.16. Constellation Brands had a return on equity of 23.06% and a net margin of 16.13%. The company had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.09 billion. During the same period in the prior year, the firm earned $1.98 earnings per share. Constellation Brands’s revenue for the quarter was up 7.1% compared to the same quarter last year. On average, equities analysts predict that Constellation Brands, Inc. will post 13.51 earnings per share for the current year.

Constellation Brands Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Friday, May 3rd will be paid a $1.01 dividend. This is an increase from Constellation Brands’s previous quarterly dividend of $0.89. This represents a $4.04 annualized dividend and a yield of 1.58%. The ex-dividend date is Thursday, May 2nd. Constellation Brands’s dividend payout ratio (DPR) is 43.07%.

Insider Transactions at Constellation Brands

In other news, CEO William A. Newlands sold 4,013 shares of the stock in a transaction that occurred on Friday, April 19th. The stock was sold at an average price of $263.25, for a total transaction of $1,056,422.25. Following the transaction, the chief executive officer now owns 5,395 shares in the company, valued at $1,420,233.75. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, EVP James A. Jr. Sabia sold 15,781 shares of the firm’s stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $263.63, for a total value of $4,160,345.03. Following the completion of the transaction, the executive vice president now owns 20,910 shares in the company, valued at approximately $5,512,503.30. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO William A. Newlands sold 4,013 shares of the firm’s stock in a transaction on Friday, April 19th. The stock was sold at an average price of $263.25, for a total value of $1,056,422.25. Following the transaction, the chief executive officer now directly owns 5,395 shares of the company’s stock, valued at $1,420,233.75. The disclosure for this sale can be found here. 16.19% of the stock is currently owned by corporate insiders.

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.