Constellation Brands, Inc. (NYSE:STZ) Shares Purchased by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. boosted its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 36.4% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,051 shares of the company’s stock after purchasing an additional 815 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Constellation Brands were worth $560,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in STZ. Copperleaf Capital LLC bought a new position in Constellation Brands during the 4th quarter valued at $343,000. Allspring Global Investments Holdings LLC raised its stake in shares of Constellation Brands by 29.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 16,021 shares of the company’s stock valued at $3,566,000 after purchasing an additional 3,660 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Constellation Brands during the fourth quarter worth about $26,000. Asset Management One Co. Ltd. grew its stake in Constellation Brands by 2.7% in the fourth quarter. Asset Management One Co. Ltd. now owns 62,773 shares of the company’s stock worth $13,980,000 after purchasing an additional 1,671 shares in the last quarter. Finally, Savant Capital LLC grew its stake in Constellation Brands by 17.4% in the fourth quarter. Savant Capital LLC now owns 3,761 shares of the company’s stock worth $831,000 after purchasing an additional 558 shares in the last quarter. 77.34% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently commented on STZ. Truist Financial upgraded Constellation Brands from a “hold” rating to a “buy” rating and lifted their target price for the stock from $190.00 to $215.00 in a research report on Wednesday, May 7th. Wall Street Zen upgraded shares of Constellation Brands from a “sell” rating to a “hold” rating in a research note on Tuesday, May 20th. Royal Bank of Canada dropped their target price on shares of Constellation Brands from $289.00 to $233.00 and set an “outperform” rating on the stock in a report on Monday, April 14th. Bernstein Bank decreased their price target on shares of Constellation Brands from $260.00 to $225.00 and set an “outperform” rating for the company in a report on Thursday, April 10th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Constellation Brands from $203.00 to $194.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. Eleven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $220.00.

Constellation Brands Stock Down 3.0%

STZ stock opened at $164.69 on Friday. The company’s 50 day simple moving average is $183.21 and its 200-day simple moving average is $190.99. Constellation Brands, Inc. has a 52-week low of $160.46 and a 52-week high of $265.70. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.10 and a quick ratio of 0.46. The firm has a market capitalization of $29.32 billion, a P/E ratio of 44.27, a P/E/G ratio of 1.52 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last issued its earnings results on Wednesday, April 9th. The company reported $2.63 EPS for the quarter, topping the consensus estimate of $2.28 by $0.35. Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The business had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.14 billion. During the same quarter last year, the firm posted $2.26 earnings per share. Constellation Brands’s revenue was up 1.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Constellation Brands, Inc. will post 13.5 EPS for the current year.

Constellation Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Tuesday, April 29th were given a dividend of $1.02 per share. This is a boost from Constellation Brands’s previous quarterly dividend of $1.01. The ex-dividend date of this dividend was Tuesday, April 29th. This represents a $4.08 dividend on an annualized basis and a yield of 2.48%. Constellation Brands’s dividend payout ratio (DPR) is presently -800.00%.

Insider Buying and Selling at Constellation Brands

In other news, EVP Samuel J. Glaetzer sold 3,150 shares of Constellation Brands stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $188.54, for a total transaction of $593,901.00. Following the completion of the sale, the executive vice president now directly owns 3,126 shares in the company, valued at $589,376.04. The trade was a 50.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 12.19% of the company’s stock.

About Constellation Brands

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.