Blue Zone Wealth Advisors LLC Boosts Stake in Constellation Brands, Inc. (NYSE:STZ)

Blue Zone Wealth Advisors LLC raised its position in Constellation Brands, Inc. (NYSE:STZ) by 10.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,079 shares of the company’s stock after buying an additional 2,078 shares during the period. Blue Zone Wealth Advisors LLC’s holdings in Constellation Brands were worth $4,052,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in STZ. Mainstream Capital Management LLC acquired a new stake in shares of Constellation Brands in the 4th quarter valued at about $25,000. SBI Securities Co. Ltd. acquired a new stake in shares of Constellation Brands in the 4th quarter valued at about $26,000. Compagnie Lombard Odier SCmA acquired a new stake in shares of Constellation Brands in the 4th quarter valued at about $27,000. Union Bancaire Privee UBP SA acquired a new stake in shares of Constellation Brands in the 4th quarter valued at about $28,000. Finally, Minot DeBlois Advisors LLC acquired a new stake in shares of Constellation Brands in the 4th quarter valued at about $29,000. 77.34% of the stock is owned by hedge funds and other institutional investors.

Constellation Brands Price Performance

Shares of NYSE:STZ opened at $171.88 on Friday. The firm’s 50 day moving average is $183.90 and its two-hundred day moving average is $193.71. Constellation Brands, Inc. has a 52 week low of $160.46 and a 52 week high of $265.70. The firm has a market capitalization of $30.60 billion, a P/E ratio of 46.20, a PEG ratio of 1.52 and a beta of 1.75. The company has a current ratio of 1.10, a quick ratio of 0.46 and a debt-to-equity ratio of 1.26.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Wednesday, April 9th. The company reported $2.63 EPS for the quarter, beating the consensus estimate of $2.28 by $0.35. Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. The company had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.14 billion. During the same quarter last year, the business earned $2.26 earnings per share. Constellation Brands’s revenue was up 1.2% compared to the same quarter last year. Analysts anticipate that Constellation Brands, Inc. will post 13.5 earnings per share for the current year.

Constellation Brands Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Tuesday, April 29th were paid a $1.02 dividend. The ex-dividend date was Tuesday, April 29th. This represents a $4.08 annualized dividend and a dividend yield of 2.37%. This is a positive change from Constellation Brands’s previous quarterly dividend of $1.01. Constellation Brands’s dividend payout ratio (DPR) is presently -800.00%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on STZ. BMO Capital Markets cut their target price on shares of Constellation Brands from $260.00 to $215.00 and set an “outperform” rating on the stock in a research note on Friday, April 11th. Wall Street Zen upgraded shares of Constellation Brands from a “sell” rating to a “hold” rating in a research note on Tuesday, May 20th. JPMorgan Chase & Co. cut their target price 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. Citigroup cut their target price on shares of Constellation Brands from $200.00 to $190.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. Finally, Needham & Company LLC restated a “buy” rating and issued a $215.00 target price on shares of Constellation Brands in a research note on Thursday, April 10th. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $225.74.

Insider Activity

In other news, EVP Samuel J. Glaetzer sold 3,150 shares of the stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $188.54, for a total value of $593,901.00. Following the completion of the transaction, the executive vice president now directly owns 3,126 shares in the company, valued at $589,376.04. This trade represents a 50.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 12.19% of the company’s stock.

Constellation Brands 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 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.