Raymond James Financial Inc. Takes Position in Constellation Brands, Inc. (NYSE:STZ)

Raymond James Financial Inc. bought a new stake in Constellation Brands, Inc. (NYSE:STZ) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 478,582 shares of the company’s stock, valued at approximately $105,766,000.

A number of other institutional investors also recently modified their holdings of STZ. Farther Finance Advisors LLC lifted its position in Constellation Brands by 22.7% during the third quarter. Farther Finance Advisors LLC now owns 812 shares of the company’s stock worth $209,000 after purchasing an additional 150 shares during the period. Robeco Institutional Asset Management B.V. lifted its position in Constellation Brands by 2.4% during the third quarter. Robeco Institutional Asset Management B.V. now owns 9,995 shares of the company’s stock worth $2,576,000 after purchasing an additional 237 shares during the period. Executive Wealth Management LLC lifted its position in Constellation Brands by 18.9% during the third quarter. Executive Wealth Management LLC now owns 12,985 shares of the company’s stock worth $3,346,000 after purchasing an additional 2,060 shares during the period. Assetmark Inc. lifted its position in Constellation Brands by 25.1% during the third quarter. Assetmark Inc. now owns 22,609 shares of the company’s stock worth $5,826,000 after purchasing an additional 4,531 shares during the period. Finally, 5th Street Advisors LLC bought a new stake in Constellation Brands during the third quarter worth about $206,000. Institutional investors own 77.34% of the company’s stock.

Wall Street Analyst Weigh In

STZ has been the subject of several recent analyst reports. Barclays cut their price objective on shares of Constellation Brands from $282.00 to $214.00 and set an “overweight” rating for the company in a research report on Tuesday, January 14th. Morgan Stanley downgraded Constellation Brands from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $220.00 to $202.00 in a research note on Thursday, February 27th. Piper Sandler downgraded Constellation Brands from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $245.00 to $200.00 in a research note on Monday, February 3rd. UBS Group lowered their target price on Constellation Brands from $265.00 to $223.00 and set a “buy” rating for the company in a research note on Friday, January 17th. Finally, Truist Financial lowered their price objective on Constellation Brands from $255.00 to $190.00 and set a “hold” rating for the company in a research note on Tuesday, January 14th. Eleven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $253.24.

Insiders Place Their Bets

In other Constellation Brands news, Director William T. Giles purchased 1,000 shares of the business’s stock in a transaction on Friday, January 17th. The shares were purchased at an average cost of $186.39 per share, for a total transaction of $186,390.00. Following the acquisition, the director now owns 1,463 shares of the company’s stock, valued at approximately $272,688.57. This represents a 215.98 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 12.19% of the company’s stock.

Constellation Brands Stock Performance

NYSE:STZ opened at $186.64 on Friday. The company has a market capitalization of $33.73 billion, a PE ratio of 50.17, a P/E/G ratio of 1.52 and a beta of 1.75. The company has a 50 day simple moving average of $184.27 and a two-hundred day simple moving average of $221.29. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.46 and a current ratio of 1.10. Constellation Brands, Inc. has a fifty-two week low of $160.46 and a fifty-two week high of $274.87.

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

Constellation Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 7th were issued a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date was Friday, February 7th. Constellation Brands’s payout ratio is 108.60%.

About Constellation Brands

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.