Bahl & Gaynor Inc. Acquires 657 Shares of Constellation Brands, Inc. (NYSE:STZ)

Bahl & Gaynor Inc. raised its holdings in Constellation Brands, Inc. (NYSE:STZ) by 15.5% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,900 shares of the company’s stock after acquiring an additional 657 shares during the quarter. Bahl & Gaynor Inc.’s holdings in Constellation Brands were worth $1,185,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of the business. Darsana Capital Partners LP raised its stake in Constellation Brands by 288.9% in the third quarter. Darsana Capital Partners LP now owns 875,000 shares of the company’s stock valued at $219,914,000 after buying an additional 650,000 shares during the last quarter. International Assets Investment Management LLC grew its holdings in Constellation Brands by 24,922.5% in the fourth quarter. International Assets Investment Management LLC now owns 567,010 shares of the company’s stock valued at $137,075,000 after purchasing an additional 564,744 shares during the period. Phoenix Holdings Ltd. grew its holdings in Constellation Brands by 38.3% in the third quarter. Phoenix Holdings Ltd. now owns 551,447 shares of the company’s stock valued at $138,608,000 after purchasing an additional 152,799 shares during the period. Trexquant Investment LP acquired a new stake in shares of Constellation Brands in the third quarter worth approximately $30,640,000. Finally, HighTower Advisors LLC boosted its stake in shares of Constellation Brands by 70.0% in the third quarter. HighTower Advisors LLC now owns 218,190 shares of the company’s stock worth $54,983,000 after acquiring an additional 89,822 shares during the last quarter. Institutional investors own 77.34% of the company’s stock.

Insider Transactions at Constellation Brands

In other news, EVP James A. Jr. Sabia sold 15,781 shares of the company’s stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $263.63, for a total transaction of $4,160,345.03. Following the completion of the transaction, the executive vice president now directly owns 20,910 shares of the company’s stock, valued at approximately $5,512,503.30. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CEO William A. Newlands sold 4,013 shares of the company’s stock in a transaction dated Friday, April 19th. The stock was sold at an average price of $263.25, for a total transaction of $1,056,422.25. Following the completion of the transaction, the chief executive officer now directly owns 5,395 shares of the company’s stock, valued at approximately $1,420,233.75. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP James A. Jr. Sabia sold 15,781 shares of the company’s stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $263.63, for a total value of $4,160,345.03. Following the transaction, the executive vice president now directly owns 20,910 shares of the company’s stock, valued at $5,512,503.30. The disclosure for this sale can be found here. Insiders own 16.19% of the company’s stock.

Constellation Brands Trading Down 0.6 %

STZ opened at $260.04 on Friday. Constellation Brands, Inc. has a 12 month low of $221.81 and a 12 month high of $274.87. The stock has a market capitalization of $47.54 billion, a price-to-earnings ratio of 27.72, a PEG ratio of 1.77 and a beta of 0.97. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.19 and a quick ratio of 0.53. The business has a fifty day moving average price of $259.80 and a 200 day moving average price of $247.94.

Constellation Brands (NYSE:STZ) last released its earnings results on Thursday, April 11th. The company reported $2.26 EPS for the quarter, topping the consensus estimate of $2.10 by $0.16. Constellation Brands had a return on equity of 23.06% and a net margin of 16.13%. The firm had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.09 billion. During the same period in the previous year, the firm posted $1.98 EPS. Constellation Brands’s revenue for the quarter was up 7.1% on a year-over-year basis. Sell-side analysts expect that Constellation Brands, Inc. will post 13.51 earnings per share for the current fiscal year.

Constellation Brands Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Friday, May 3rd will be paid a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 1.55%. This is a boost from Constellation Brands’s previous quarterly dividend of $0.89. The ex-dividend date of this dividend is Thursday, May 2nd. Constellation Brands’s payout ratio is presently 37.95%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on STZ shares. Barclays lifted their price target on Constellation Brands from $294.00 to $295.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Piper Sandler assumed coverage on Constellation Brands in a research report on Friday, March 22nd. They set an “overweight” rating and a $300.00 price objective on the stock. UBS Group lifted their price objective on Constellation Brands from $312.00 to $320.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Wedbush reiterated an “outperform” rating and set a $300.00 price objective on shares of Constellation Brands in a research report on Wednesday, April 10th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Constellation Brands from $256.00 to $262.00 and gave the stock a “hold” rating in a research report on Wednesday, April 10th. Three research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $298.55.

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 Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Victoria, Vicky Chamoy, and Pacifico brands.