Raymond James Financial Inc. Makes New Investment in Constellation Brands, Inc. (NYSE:STZ)

Raymond James Financial Inc. bought a new position in shares of Constellation Brands, Inc. (NYSE:STZ) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 478,582 shares of the company’s stock, valued at approximately $105,766,000. Raymond James Financial Inc. owned approximately 0.26% of Constellation Brands at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mainstream Capital Management LLC bought a new position in Constellation Brands during the fourth quarter worth about $25,000. SBI Securities Co. Ltd. bought a new stake in shares of Constellation Brands in the fourth quarter valued at about $26,000. Compagnie Lombard Odier SCmA bought a new stake in shares of Constellation Brands in the fourth quarter valued at about $27,000. Union Bancaire Privee UBP SA bought a new stake in shares of Constellation Brands in the fourth quarter valued at about $28,000. Finally, Versant Capital Management Inc lifted 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 purchasing an additional 142 shares in the last quarter. 77.34% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on STZ. Truist Financial cut their price target on Constellation Brands from $255.00 to $190.00 and set a “hold” rating on the stock in a report on Tuesday, January 14th. TD Cowen cut their price target on Constellation Brands from $270.00 to $260.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Royal Bank of Canada cut their price target on Constellation Brands from $293.00 to $289.00 and set an “outperform” rating on the stock in a report on Friday. Wells Fargo & Company cut their price target on Constellation Brands from $295.00 to $275.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Finally, Jefferies Financial Group reissued a “hold” rating and set a $201.00 price target (down from $310.00) on shares of Constellation Brands in a research report on Monday, January 13th. Eleven equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $253.24.

Insider Buying and Selling at Constellation Brands

In other Constellation Brands news, Director William T. Giles bought 1,000 shares of Constellation Brands stock in a transaction dated Friday, January 17th. The stock was bought at an average price of $186.39 per share, with a total value of $186,390.00. Following the completion of 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 12.19% of the company’s stock.

Constellation Brands Price Performance

NYSE:STZ opened at $186.64 on Friday. Constellation Brands, Inc. has a one year low of $160.46 and a one year high of $274.87. The company has a market cap of $33.73 billion, a P/E ratio of 50.17, a P/E/G ratio of 1.52 and a beta of 1.75. The firm’s fifty day moving average price is $184.27 and its two-hundred day moving average price is $221.29. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.10 and a quick ratio of 0.46.

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 net margin of 6.27% and a return on equity of 26.55%. The company had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.53 billion. During the same quarter in the prior year, the firm earned $3.19 earnings per share. Constellation Brands’s revenue for the quarter was down .3% on a year-over-year basis. Equities analysts expect that Constellation Brands, Inc. will post 13.5 earnings per share for the current year.

Constellation Brands Dividend Announcement

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