Diamond Hill Capital Management Inc. Has $31.77 Million Holdings in Constellation Brands Inc $STZ

Diamond Hill Capital Management Inc. lessened its stake in Constellation Brands Inc (NYSE:STZ) by 4.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 230,266 shares of the company’s stock after selling 11,905 shares during the quarter. Diamond Hill Capital Management Inc.’s holdings in Constellation Brands were worth $31,767,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Root Financial Partners LLC bought a new stake in shares of Constellation Brands in the third quarter worth $26,000. Stance Capital LLC bought a new stake in shares of Constellation Brands in the third quarter worth $26,000. GoalVest Advisory LLC bought a new stake in shares of Constellation Brands in the fourth quarter worth $28,000. Elyxium Wealth LLC bought a new stake in shares of Constellation Brands in the fourth quarter worth $33,000. Finally, Mowery & Schoenfeld Wealth Management LLC bought a new stake in shares of Constellation Brands in the fourth quarter worth $39,000. Institutional investors own 77.34% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on STZ. Royal Bank Of Canada reissued an “outperform” rating and issued a $185.00 price objective on shares of Constellation Brands in a research report on Friday, April 10th. Barclays boosted their price objective on shares of Constellation Brands from $151.00 to $170.00 and gave the stock an “equal weight” rating in a research report on Friday, April 10th. Wells Fargo & Company boosted their price objective on shares of Constellation Brands from $180.00 to $185.00 and gave the stock an “overweight” rating in a research report on Friday, April 10th. TD Cowen raised shares of Constellation Brands from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $142.00 to $190.00 in a research report on Monday, April 13th. Finally, Piper Sandler boosted their price objective on shares of Constellation Brands from $146.00 to $160.00 and gave the stock a “neutral” rating in a research report on Friday, April 10th. One equities 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 company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $175.37.

Insider Buying and Selling at Constellation Brands

In other news, EVP James O. Bourdeau sold 4,407 shares of the stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $143.24, for a total value of $631,258.68. Following the transaction, the executive vice president directly owned 9,109 shares of the company’s stock, valued at $1,304,773.16. This represents a 32.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 12.45% of the stock is owned by insiders.

Constellation Brands Stock Performance

NYSE STZ opened at $150.86 on Friday. The company has a current ratio of 1.08, a quick ratio of 0.55 and a debt-to-equity ratio of 1.16. The firm’s fifty day moving average price is $152.74 and its two-hundred day moving average price is $148.60. Constellation Brands Inc has a 1 year low of $126.45 and a 1 year high of $186.40. The firm has a market capitalization of $25.98 billion, a P/E ratio of 15.73, a price-to-earnings-growth ratio of 3.32 and a beta of 0.43.

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

Constellation Brands Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Wednesday, April 29th were given a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 2.7%. This is an increase from Constellation Brands’s previous quarterly dividend of $1.02. The ex-dividend date of this dividend was Wednesday, April 29th. Constellation Brands’s payout ratio is currently 42.96%.

About Constellation Brands

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.