Brookstone Capital Management Acquires 920 Shares of Constellation Brands, Inc. (NYSE:STZ)

Brookstone Capital Management boosted its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 5.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,654 shares of the company’s stock after purchasing an additional 920 shares during the quarter. Brookstone Capital Management’s holdings in Constellation Brands were worth $3,681,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in STZ. Crescent Sterling Ltd. lifted its stake in shares of Constellation Brands by 28.1% in the fourth quarter. Crescent Sterling Ltd. now owns 5,747 shares of the company’s stock valued at $1,270,000 after buying an additional 1,259 shares during the period. Czech National Bank boosted its position in shares of Constellation Brands by 6.1% during the 4th quarter. Czech National Bank now owns 33,851 shares of the company’s stock valued at $7,481,000 after acquiring an additional 1,933 shares in the last quarter. Jacobs & Co. CA raised its position in Constellation Brands by 4.2% in the fourth quarter. Jacobs & Co. CA now owns 39,189 shares of the company’s stock worth $8,660,000 after purchasing an additional 1,564 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Constellation Brands by 66.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 369,966 shares of the company’s stock valued at $81,762,000 after purchasing an additional 147,457 shares in the last quarter. Finally, Ables Iannone Moore & Associates Inc. boosted its stake in Constellation Brands by 9.0% in the 4th quarter. Ables Iannone Moore & Associates Inc. now owns 8,726 shares of the company’s stock valued at $1,929,000 after buying an additional 718 shares in the last quarter. Institutional investors and hedge funds own 77.34% of the company’s stock.

Constellation Brands Price Performance

Shares of STZ opened at $182.18 on Wednesday. The company has a 50 day moving average of $229.71 and a 200-day moving average of $240.26. The company has a quick ratio of 0.53, a current ratio of 1.25 and a debt-to-equity ratio of 1.31. The stock has a market capitalization of $33.08 billion, a P/E ratio of 58.96, a P/E/G ratio of 1.69 and a beta of 1.75. Constellation Brands, Inc. has a twelve month low of $176.51 and a twelve month high of $274.87.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings data on Friday, January 10th. The company reported $3.25 EPS for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.08). The firm had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.53 billion. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. The business’s revenue was down .3% on a year-over-year basis. During the same period last year, the business earned $3.19 EPS. As a group, equities research analysts forecast that Constellation Brands, Inc. will post 13.57 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Friday, February 7th will be given a $1.01 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 2.22%. Constellation Brands’s payout ratio is 130.74%.

Wall Street Analysts Forecast Growth

STZ has been the subject of a number of analyst reports. Truist Financial cut their price objective on Constellation Brands from $255.00 to $190.00 and set a “hold” rating for the company in a report on Tuesday. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $203.00 price target (down from $262.00) on shares of Constellation Brands in a report on Monday. BMO Capital Markets decreased their price objective on shares of Constellation Brands from $315.00 to $305.00 and set an “outperform” rating on the stock in a report on Tuesday, October 15th. Barclays reduced their target price on shares of Constellation Brands from $282.00 to $214.00 and set an “overweight” rating on the stock in a research report on Tuesday. Finally, Bank of America restated a “neutral” rating and issued a $255.00 price objective (down previously from $300.00) on shares of Constellation Brands in a research report on Monday, October 7th. Eight research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $261.40.

Insider Transactions at Constellation Brands

In other news, EVP James A. Jr. Sabia sold 36,086 shares of Constellation Brands stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $242.99, for a total transaction of $8,768,537.14. Following the completion of the sale, the executive vice president now owns 16,042 shares of the company’s stock, valued at approximately $3,898,045.58. This trade represents a 69.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William A. Newlands sold 7,426 shares of the business’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $237.24, for a total transaction of $1,761,744.24. Following the completion of the sale, the chief executive officer now directly owns 7,274 shares of the company’s stock, valued at approximately $1,725,683.76. The trade was a 50.52 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 69,172 shares of company stock worth $16,778,841. 12.19% of the stock is owned by company insiders.

Constellation Brands Profile

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.