Easterly Investment Partners LLC Buys 4,218 Shares of Constellation Brands Inc $STZ

Easterly Investment Partners LLC lifted its stake in shares of Constellation Brands Inc (NYSE:STZ) by 77.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 9,647 shares of the company’s stock after purchasing an additional 4,218 shares during the quarter. Easterly Investment Partners LLC’s holdings in Constellation Brands were worth $1,331,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Oppenheimer Asset Management Inc. grew its position in Constellation Brands by 329.8% during the third quarter. Oppenheimer Asset Management Inc. now owns 73,323 shares of the company’s stock worth $9,874,000 after buying an additional 56,263 shares in the last quarter. Nordea Investment Management AB grew its position in Constellation Brands by 6.1% during the fourth quarter. Nordea Investment Management AB now owns 867,776 shares of the company’s stock worth $120,300,000 after buying an additional 49,625 shares in the last quarter. LSV Asset Management purchased a new position in Constellation Brands during the third quarter worth about $33,018,000. Portside Wealth Group LLC grew its position in Constellation Brands by 455.8% during the third quarter. Portside Wealth Group LLC now owns 8,971 shares of the company’s stock worth $1,208,000 after buying an additional 7,357 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. grew its position in Constellation Brands by 97.3% during the third quarter. Diamond Hill Capital Management Inc. now owns 242,171 shares of the company’s stock worth $32,613,000 after buying an additional 119,400 shares in the last quarter. 77.34% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. TD Cowen upgraded Constellation Brands from a “hold” rating to a “buy” rating and upped their price objective for the stock from $142.00 to $190.00 in a report on Monday, April 13th. Piper Sandler upped their price objective on Constellation Brands from $146.00 to $160.00 and gave the stock a “neutral” rating in a report on Friday, April 10th. Roth Mkm reiterated a “buy” rating on shares of Constellation Brands in a report on Thursday, April 9th. Bank of America cut their price objective on Constellation Brands from $154.00 to $152.00 and set an “underperform” rating for the company in a report on Thursday, May 28th. Finally, Barclays upped their price objective on Constellation Brands from $151.00 to $170.00 and gave the stock an “equal weight” rating in a report on Friday, April 10th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Constellation Brands presently has an average rating of “Moderate Buy” and a consensus target price of $175.26.

Insider Buying and Selling at Constellation Brands

In related news, EVP James O. Bourdeau sold 4,407 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $143.24, for a total value of $631,258.68. Following the sale, the executive vice president owned 9,109 shares in the company, valued at $1,304,773.16. This represents a 32.61% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 12.45% of the stock is owned by insiders.

Constellation Brands Trading Down 1.8%

STZ opened at $136.39 on Tuesday. The business has a 50 day simple moving average of $151.78 and a two-hundred day simple moving average of $149.31. The firm has a market capitalization of $23.49 billion, a price-to-earnings ratio of 14.22, a PEG ratio of 3.21 and a beta of 0.39. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.08 and a quick ratio of 0.55. Constellation Brands Inc has a one year low of $126.45 and a one year high of $178.55.

Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Wednesday, April 8th. The company reported $1.90 EPS for the quarter, beating analysts’ consensus estimates of $1.71 by $0.19. Constellation Brands had a return on equity of 26.18% and a net margin of 17.29%.The business had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same quarter in the prior year, the company posted $2.63 EPS. Constellation Brands’s quarterly revenue was down 11.3% compared to the same quarter last year. Analysts predict that Constellation Brands Inc will post 11.9 EPS for the current year.

Constellation Brands Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Wednesday, April 29th were paid a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 3.0%. The ex-dividend date was Wednesday, April 29th. This is an increase from Constellation Brands’s previous quarterly dividend of $1.02. Constellation Brands’s dividend payout ratio (DPR) is currently 42.96%.

Constellation Brands Company Profile

Constellation Brands, Inc is a leading producer and marketer of beer, wine and spirits, with operations spanning production, importation, marketing and distribution. The company’s beverage portfolio includes a range of premium and mainstream wines and spirits alongside major imported beer brands; in the U.S. market Constellation is widely known for its role in bringing Mexican imports such as Corona and Modelo to American consumers. Constellation supplies retail, on‑premise and foodservice channels and supports its brands with national sales and marketing platforms and supply‑chain capabilities.

The company traces its roots to the Canandaigua Wine Company, founded by Marvin Sands in 1945, and evolved through organic growth and acquisition into a diversified beverage company.