Principal Securities Inc. Purchases 1,533 Shares of Constellation Brands, Inc. (NYSE:STZ)

Principal Securities Inc. increased its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 22.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,229 shares of the company’s stock after acquiring an additional 1,533 shares during the period. Principal Securities Inc.’s holdings in Constellation Brands were worth $1,819,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Compagnie Lombard Odier SCmA bought a new position in shares of Constellation Brands in the fourth quarter worth $27,000. Union Bancaire Privee UBP SA purchased a new position in Constellation Brands during the fourth quarter worth about $28,000. Eastern Bank bought a new position in Constellation Brands in the 3rd quarter worth about $39,000. Versant Capital Management Inc raised its holdings in shares of Constellation Brands by 887.5% in the 4th quarter. Versant Capital Management Inc now owns 158 shares of the company’s stock valued at $35,000 after acquiring an additional 142 shares in the last quarter. Finally, FSA Wealth Management LLC purchased a new stake in shares of Constellation Brands in the 3rd quarter valued at about $42,000. 77.34% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on STZ. BNP Paribas assumed coverage on Constellation Brands in a report on Monday, November 25th. They set a “neutral” rating and a $261.00 price objective for the company. Argus cut shares of Constellation Brands from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Piper Sandler cut shares of Constellation Brands from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $245.00 to $200.00 in a research report on Monday, February 3rd. Needham & Company LLC reiterated a “buy” rating and issued a $240.00 target price on shares of Constellation Brands in a research report on Monday, January 27th. Finally, UBS Group reduced their target price on Constellation Brands from $265.00 to $223.00 and set a “buy” rating on the stock in a research note on Friday, January 17th. Ten equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, Constellation Brands presently has a consensus rating of “Moderate Buy” and an average price target of $254.29.

Constellation Brands Stock Up 3.8 %

NYSE STZ opened at $169.11 on Wednesday. Constellation Brands, Inc. has a 1 year low of $160.46 and a 1 year high of $274.87. The stock has a market capitalization of $30.56 billion, a PE ratio of 45.46, a PEG ratio of 1.51 and a beta of 1.75. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.10 and a quick ratio of 0.46. The business’s 50-day moving average is $199.72 and its 200 day moving average is $227.61.

Constellation Brands (NYSE:STZ) last posted its earnings results on Friday, January 10th. The company reported $3.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.33 by ($0.08). Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. The business had revenue of $2.46 billion for the quarter, compared to analysts’ expectations of $2.53 billion. During the same period last year, the firm posted $3.19 earnings per share. Constellation Brands’s quarterly revenue was down .3% on a year-over-year basis. Sell-side analysts forecast that Constellation Brands, Inc. will post 13.5 earnings per share for the current year.

Constellation Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Friday, February 7th will be paid a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date is Friday, February 7th. Constellation Brands’s payout ratio is 108.60%.

Insider Activity at Constellation Brands

In other news, Director William T. Giles acquired 1,000 shares of the business’s stock in a transaction on Friday, January 17th. The shares were acquired at an average cost of $186.39 per share, with a total value of $186,390.00. Following the transaction, the director now owns 1,463 shares in the company, valued at $272,688.57. The trade was a 215.98 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 12.19% of the stock is owned by corporate insiders.

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 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.