WASHINGTON TRUST Co Has $254,000 Stock Position in Constellation Brands, Inc. (NYSE:STZ)

WASHINGTON TRUST Co increased its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 156.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,050 shares of the company’s stock after buying an additional 640 shares during the quarter. WASHINGTON TRUST Co’s holdings in Constellation Brands were worth $254,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Kestra Private Wealth Services LLC raised its stake in Constellation Brands by 17.2% during 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 raised its stake in Constellation Brands by 15.3% during 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. CoreCap Advisors LLC raised its stake in Constellation Brands by 35.8% during 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. Teza Capital Management LLC acquired a new position in Constellation Brands during the 3rd quarter worth approximately $7,768,000. Finally, Nordea Investment Management AB raised its stake in Constellation Brands by 6.7% during the 4th quarter. Nordea Investment Management AB now owns 8,040 shares of the company’s stock worth $1,945,000 after buying an additional 507 shares during the period. 77.34% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Constellation Brands

In related news, major shareholder Family Foundation Sands sold 354,616 shares of the stock in a transaction on Monday, January 8th. The stock was sold at an average price of $250.26, for a total value of $88,746,200.16. Following the sale, the insider now owns 54,461 shares in the company, valued at $13,629,409.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 16.19% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently commented on STZ. Evercore ISI reissued an “outperform” rating and issued a $300.00 price objective on shares of Constellation Brands in a research note on Wednesday. Argus downgraded Constellation Brands from a “buy” rating to a “hold” rating in a research note on Wednesday, January 10th. Piper Sandler began coverage on Constellation Brands in a research note on Friday, March 22nd. They issued an “overweight” rating and a $300.00 price objective for the company. JPMorgan Chase & Co. lowered their price objective on Constellation Brands from $309.00 to $301.00 and set an “overweight” rating for the company in a research note on Thursday, December 21st. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $295.00 price objective on shares of Constellation Brands in a research note on Thursday, March 7th. Four research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $290.37.

Constellation Brands Price Performance

Shares of NYSE STZ opened at $271.77 on Friday. The stock has a fifty day simple moving average of $253.01 and a two-hundred day simple moving average of $246.36. Constellation Brands, Inc. has a 1-year low of $217.05 and a 1-year high of $273.65. The firm has a market cap of $49.68 billion, a price-to-earnings ratio of 32.16, a price-to-earnings-growth ratio of 1.87 and a beta of 0.96. The company has a current ratio of 1.05, a quick ratio of 0.46 and a debt-to-equity ratio of 1.05.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings data on Friday, January 5th. The company reported $3.19 earnings per share for the quarter, beating the consensus estimate of $3.03 by $0.16. Constellation Brands had a return on equity of 23.35% and a net margin of 14.76%. The business had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.54 billion. During the same period in the prior year, the company earned $2.83 earnings per share. Constellation Brands’s revenue was up 1.4% compared to the same quarter last year. Analysts anticipate that Constellation Brands, Inc. will post 11.92 earnings per share for the current year.

Constellation Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 22nd. Shareholders of record on Thursday, February 8th were issued a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 1.31%. The ex-dividend date was Wednesday, February 7th. Constellation Brands’s dividend payout ratio (DPR) is 42.13%.

Constellation Brands Company 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 Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Victoria, Vicky Chamoy, and Pacifico brands.