Westfield Capital Management Co. LP Acquires 85,974 Shares of Constellation Brands, Inc. (NYSE:STZ)

Westfield Capital Management Co. LP grew its holdings in shares of Constellation Brands, Inc. (NYSE:STZFree Report) by 24.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 435,356 shares of the company’s stock after acquiring an additional 85,974 shares during the period. Westfield Capital Management Co. LP owned about 0.24% of Constellation Brands worth $105,247,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Kestra Private Wealth Services LLC boosted its holdings in Constellation Brands by 17.2% in the 3rd quarter. Kestra Private Wealth Services LLC now owns 17,218 shares of the company’s stock worth $4,327,000 after buying an additional 2,526 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in Constellation Brands by 15.3% in the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 32,433 shares of the company’s stock worth $8,151,000 after buying an additional 4,311 shares during the period. Perigon Wealth Management LLC boosted its holdings in Constellation Brands by 46.0% in the 4th quarter. Perigon Wealth Management LLC now owns 6,012 shares of the company’s stock worth $1,453,000 after buying an additional 1,893 shares during the period. CoreCap Advisors LLC boosted its holdings in Constellation Brands by 35.8% in the 4th quarter. CoreCap Advisors LLC now owns 2,002 shares of the company’s stock worth $484,000 after buying an additional 528 shares during the period. Finally, Ascent Wealth Partners LLC bought a new position in Constellation Brands in the 4th quarter worth $962,000. Institutional investors own 77.34% of the company’s stock.

Constellation Brands Stock Up 1.4 %

NYSE:STZ traded up $3.39 during mid-day trading on Friday, reaching $248.51. The company’s stock had a trading volume of 1,503,979 shares, compared to its average volume of 898,891. The company has a quick ratio of 0.53, a current ratio of 1.19 and a debt-to-equity ratio of 1.06. The firm has a market capitalization of $45.47 billion, a PE ratio of 26.49, a price-to-earnings-growth ratio of 1.68 and a beta of 0.95. The stock has a fifty day moving average of $260.90 and a 200-day moving average of $250.80. Constellation Brands, Inc. has a 1 year low of $227.50 and a 1 year high of $274.87.

Constellation Brands (NYSE:STZGet Free Report) last released its quarterly earnings data on Thursday, April 11th. The company reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.10 by $0.16. The firm had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.09 billion. Constellation Brands had a net margin of 16.13% and a return on equity of 23.06%. The company’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period last year, the firm earned $1.98 earnings per share. Equities research analysts forecast that Constellation Brands, Inc. will post 13.53 earnings per share for the current year.

Constellation Brands Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 17th. Shareholders of record on Friday, May 3rd were paid a $1.01 dividend. This represents a $4.04 annualized dividend and a yield of 1.63%. The ex-dividend date was Thursday, May 2nd. This is a positive change from Constellation Brands’s previous quarterly dividend of $0.89. Constellation Brands’s payout ratio is 43.07%.

Insiders Place Their Bets

In other news, EVP Michael Mcgrew sold 3,237 shares of Constellation Brands stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $255.50, for a total value of $827,053.50. Following the transaction, the executive vice president now owns 1,731 shares of the company’s stock, valued at approximately $442,270.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Constellation Brands news, EVP Michael Mcgrew sold 3,237 shares of Constellation Brands stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $255.50, for a total value of $827,053.50. Following the transaction, the executive vice president now directly owns 1,731 shares of the company’s stock, valued at $442,270.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP James A. Jr. Sabia sold 15,781 shares of Constellation Brands stock in a transaction on Friday, April 12th. The stock was sold at an average price of $263.63, for a total transaction of $4,160,345.03. Following the completion of the transaction, the executive vice president now directly owns 20,910 shares in the company, valued at $5,512,503.30. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 48,031 shares of company stock worth $12,582,321. 16.19% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on STZ. Bank of America boosted their price target on shares of Constellation Brands from $290.00 to $300.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Wedbush reiterated an “outperform” rating and issued a $300.00 price target on shares of Constellation Brands in a research note on Wednesday, April 10th. Jefferies Financial Group boosted their price target on shares of Constellation Brands from $292.00 to $314.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. Evercore ISI upped their target price on shares of Constellation Brands from $300.00 to $310.00 and gave the company an “outperform” rating in a research report on Friday, April 12th. Finally, BMO Capital Markets upped their target price on shares of Constellation Brands from $290.00 to $315.00 and gave the company an “outperform” rating in a research report on Friday, April 12th. Three equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $298.55.

Read Our Latest Stock Analysis on Constellation Brands

Constellation Brands Profile

(Free Report)

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.

Further Reading

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

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