27,600 Shares in Constellation Brands, Inc. (NYSE:STZ) Acquired by Grimes & Company Inc.

Grimes & Company Inc. bought a new position in shares of Constellation Brands, Inc. (NYSE:STZ) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 27,600 shares of the company’s stock, valued at approximately $6,099,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Versant Capital Management Inc increased its holdings in shares of Constellation Brands by 887.5% in the fourth quarter. Versant Capital Management Inc now owns 158 shares of the company’s stock valued at $35,000 after buying an additional 142 shares in the last quarter. Eastern Bank bought a new position in shares of Constellation Brands in the third quarter valued at $39,000. FSA Wealth Management LLC bought a new position in shares of Constellation Brands in the third quarter valued at $42,000. Truvestments Capital LLC bought a new position in shares of Constellation Brands in the third quarter valued at $60,000. Finally, Continuum Advisory LLC increased its holdings in shares of Constellation Brands by 68.0% in the third quarter. Continuum Advisory LLC now owns 252 shares of the company’s stock valued at $61,000 after buying an additional 102 shares in the last quarter. Institutional investors own 77.34% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on STZ shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $280.00 price target on shares of Constellation Brands in a report on Friday, January 10th. Piper Sandler cut their target price on shares of Constellation Brands from $300.00 to $245.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. Jefferies Financial Group restated a “hold” rating and set a $201.00 price target (down from $310.00) on shares of Constellation Brands in a report on Monday, January 13th. Bank of America reiterated a “neutral” rating and issued a $255.00 price objective (down from $300.00) on shares of Constellation Brands in a report on Monday, October 7th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $308.00 price objective on shares of Constellation Brands in a report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $259.05.

Insider Buying and Selling

In other news, CEO William A. Newlands sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $243.58, for a total value of $6,089,500.00. Following the transaction, the chief executive officer now owns 7,274 shares in the company, valued at approximately $1,771,800.92. This represents a 77.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director William T. Giles acquired 1,000 shares of the firm’s stock in a transaction dated Friday, January 17th. The shares were bought at an average cost of $186.39 per share, with a total value of $186,390.00. Following the completion of the acquisition, the director now directly owns 1,463 shares of the company’s stock, valued at $272,688.57. The trade was a 215.98 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 69,172 shares of company stock worth $16,778,841 in the last 90 days. 12.19% of the stock is owned by company insiders.

Constellation Brands Trading Up 1.9 %

NYSE:STZ opened at $182.99 on Friday. The firm has a 50-day moving average price of $221.02 and a two-hundred day moving average price of $236.43. 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 52 week low of $176.51 and a 52 week high of $274.87. The firm has a market cap of $33.07 billion, a price-to-earnings ratio of 49.19, a price-to-earnings-growth ratio of 1.58 and a beta of 0.91.

Constellation Brands (NYSE:STZ) last released its quarterly earnings data on Friday, January 10th. The company reported $3.25 EPS for the quarter, missing the consensus estimate of $3.33 by ($0.08). Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The business had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.53 billion. During the same period last year, the business posted $3.19 earnings per share. The firm’s quarterly revenue was down .3% on a year-over-year basis. On average, equities analysts expect that Constellation Brands, Inc. will post 13.52 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Friday, February 7th will be given a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date of this dividend is Friday, February 7th. Constellation Brands’s payout ratio is presently 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.