Greystone Financial Group LLC Boosts Position in Constellation Brands, Inc. (NYSE:STZ)

Greystone Financial Group LLC raised its position in Constellation Brands, Inc. (NYSE:STZ) by 15.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,831 shares of the company’s stock after purchasing an additional 387 shares during the quarter. Greystone Financial Group LLC’s holdings in Constellation Brands were worth $728,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. New Millennium Group LLC acquired a new position in Constellation Brands during the second quarter worth $25,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Constellation Brands during the second quarter worth about $29,000. Horizon Bancorp Inc. IN purchased a new position in shares of Constellation Brands in the second quarter valued at approximately $32,000. YHB Investment Advisors Inc. acquired a new position in shares of Constellation Brands in the first quarter valued at approximately $35,000. Finally, Kapitalo Investimentos Ltda acquired a new position in shares of Constellation Brands in the fourth quarter valued at approximately $35,000. 77.34% of the stock is currently owned by hedge funds and other institutional investors.

Constellation Brands Stock Performance

NYSE:STZ traded up $0.72 during trading hours on Friday, reaching $249.01. 1,171,782 shares of the company’s stock were exchanged, compared to its average volume of 1,176,895. Constellation Brands, Inc. has a 1-year low of $227.50 and a 1-year high of $274.87. The company has a quick ratio of 0.53, a current ratio of 1.19 and a debt-to-equity ratio of 1.06. The firm has a market capitalization of $45.56 billion, a price-to-earnings ratio of 18.56, a P/E/G ratio of 1.59 and a beta of 1.75. The company has a 50-day moving average of $246.35 and a 200 day moving average of $253.65.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings results on Wednesday, July 3rd. The company reported $3.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.46 by $0.11. Constellation Brands had a return on equity of 23.72% and a net margin of 22.70%. The firm had revenue of $2.66 billion for the quarter, compared to analysts’ expectations of $2.67 billion. During the same quarter in the previous year, the firm posted $2.91 EPS. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. Research analysts anticipate that Constellation Brands, Inc. will post 13.54 EPS for the current year.

Constellation Brands Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Wednesday, August 14th were paid a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 1.62%. The ex-dividend date of this dividend was Wednesday, August 14th. Constellation Brands’s dividend payout ratio (DPR) is presently 30.10%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Truist Financial reissued a “hold” rating and issued a $265.00 price target on shares of Constellation Brands in a research report on Wednesday, July 3rd. Morgan Stanley cut their price target on Constellation Brands from $305.00 to $280.00 and set an “overweight” rating on the stock in a report on Monday, August 26th. UBS Group lifted their price objective on Constellation Brands from $315.00 to $320.00 and gave the company a “buy” rating in a research note on Friday, July 5th. JPMorgan Chase & Co. lowered their price objective on Constellation Brands from $320.00 to $307.00 and set an “overweight” rating for the company in a research report on Tuesday. Finally, Jefferies Financial Group raised their target price on shares of Constellation Brands from $310.00 to $311.00 and gave the company a “buy” rating in a report on Friday, July 5th. Three analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, Constellation Brands has a consensus rating of “Moderate Buy” and an average price target of $298.17.

Insider Buying and Selling at Constellation Brands

In other news, EVP Kaneenat Kristann Carey sold 977 shares of the stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $261.00, for a total transaction of $254,997.00. Following the completion of the transaction, the executive vice president now directly owns 2,706 shares of the company’s stock, valued at approximately $706,266. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director Daniel J. Mccarthy sold 1,854 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $252.43, for a total transaction of $468,005.22. Following the sale, the director now owns 3,232 shares of the company’s stock, valued at $815,853.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Kaneenat Kristann Carey sold 977 shares of the stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $261.00, for a total transaction of $254,997.00. Following the completion of the transaction, the executive vice president now directly owns 2,706 shares of the company’s stock, valued at $706,266. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,414 shares of company stock valued at $3,982,922. 12.19% of the stock is owned by corporate insiders.

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.