HB Wealth Management LLC Purchases 866 Shares of Constellation Brands, Inc. (NYSE:STZ)

Posted by on Apr 1st, 2023

HB Wealth Management LLC boosted its stake in shares of Constellation Brands, Inc. (NYSE:STZ – Get Rating) by 81.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,933 shares of the company’s stock after acquiring an additional 866 shares during the quarter. HB Wealth Management LLC’s holdings in Constellation Brands were worth $448,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the business. Prudential PLC raised its stake in Constellation Brands by 44.8% during the third quarter. Prudential PLC now owns 4,592 shares of the company’s stock valued at $1,055,000 after buying an additional 1,421 shares during the last quarter. Echo Street Capital Management LLC bought a new position in shares of Constellation Brands in the second quarter worth about $507,000. Teacher Retirement System of Texas boosted its stake in shares of Constellation Brands by 48.4% in the third quarter. Teacher Retirement System of Texas now owns 47,420 shares of the company’s stock worth $10,891,000 after acquiring an additional 15,472 shares during the period. Caisse DE Depot ET Placement DU Quebec bought a new position in shares of Constellation Brands in the third quarter worth about $810,000. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Constellation Brands by 2.8% in the second quarter. Price T Rowe Associates Inc. MD now owns 1,697,507 shares of the company’s stock worth $395,621,000 after buying an additional 45,493 shares in the last quarter. Hedge funds and other institutional investors own 84.87% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on STZ. BMO Capital Markets decreased their target price on Constellation Brands from $290.00 to $265.00 and set an “outperform” rating on the stock in a research report on Friday, January 6th. Wedbush reiterated an “outperform” rating and issued a $255.00 price target on shares of Constellation Brands in a report on Friday. Citigroup assumed coverage on Constellation Brands in a report on Thursday, February 16th. They issued a “buy” rating and a $265.00 price target on the stock. Wells Fargo & Company increased their price target on Constellation Brands from $240.00 to $250.00 and gave the stock an “overweight” rating in a report on Thursday, January 26th. Finally, Credit Suisse Group reduced their price target on Constellation Brands from $260.00 to $250.00 and set an “outperform” rating on the stock in a report on Friday, January 6th. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $249.76.

Constellation Brands Price Performance

NYSE:STZ opened at $225.89 on Friday. The company has a quick ratio of 0.63, a current ratio of 1.29 and a debt-to-equity ratio of 1.29. Constellation Brands, Inc. has a 52 week low of $208.12 and a 52 week high of $261.52. The stock has a market capitalization of $41.69 billion, a PE ratio of 645.42, a price-to-earnings-growth ratio of 2.06 and a beta of 1.01. The stock’s 50-day moving average price is $223.11 and its 200-day moving average price is $231.72.

Constellation Brands (NYSE:STZ – Get Rating) last announced its earnings results on Thursday, January 5th. The company reported $2.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.88 by ($0.05). Constellation Brands had a net margin of 0.98% and a return on equity of 19.69%. The firm had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.38 billion. During the same period in the previous year, the firm earned $3.12 EPS. The firm’s revenue for the quarter was up 9.2% compared to the same quarter last year. As a group, equities analysts expect that Constellation Brands, Inc. will post 10.54 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 22nd. Stockholders of record on Wednesday, February 8th were issued a $0.80 dividend. The ex-dividend date was Tuesday, February 7th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.42%. Constellation Brands’s payout ratio is 914.31%.

About Constellation Brands

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Constellation Brands, Inc engages in the production, marketing, and distribution of beer, wine, and spirits. It operates through the following segments: Beer, Wine and Spirits, and Corporate Operations and Other, and Canopy. The Beer segment includes imported and craft beer brands. The Wine and Spirits segment sells wine brands across all categories-table wine, sparkling wine, and dessert wine-and across all price points.

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Institutional Ownership by Quarter for Constellation Brands (NYSE:STZ)

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