Benjamin Edwards Inc. Increases Stock Position in Constellation Brands, Inc. (NYSE:STZ)

Benjamin Edwards Inc. boosted its position in Constellation Brands, Inc. (NYSE:STZ - Free Report) by 206.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,763 shares of the company's stock after purchasing an additional 3,209 shares during the period. Benjamin Edwards Inc.'s holdings in Constellation Brands were worth $1,228,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Paloma Partners Management Co raised its holdings in Constellation Brands by 568.4% in the 3rd quarter. Paloma Partners Management Co now owns 30,000 shares of the company's stock worth $7,731,000 after purchasing an additional 25,512 shares during the period. Empowered Funds LLC increased its position in Constellation Brands by 318.8% in the third quarter. Empowered Funds LLC now owns 10,184 shares of the company's stock worth $2,624,000 after buying an additional 7,752 shares in the last quarter. Signature Estate & Investment Advisors LLC bought a new position in shares of Constellation Brands in the third quarter worth about $2,132,000. WealthPlan Investment Management LLC lifted its position in shares of Constellation Brands by 29.5% during the 3rd quarter. WealthPlan Investment Management LLC now owns 30,160 shares of the company's stock valued at $7,772,000 after buying an additional 6,867 shares in the last quarter. Finally, Chartwell Investment Partners LLC grew its stake in shares of Constellation Brands by 7.1% during the 3rd quarter. Chartwell Investment Partners LLC now owns 39,431 shares of the company's stock valued at $10,161,000 after acquiring an additional 2,627 shares during the period. 77.34% of the stock is currently owned by institutional investors.

Constellation Brands Trading Down 0.2 %

STZ traded down $0.50 on Friday, hitting $239.00. The company had a trading volume of 1,701,897 shares, compared to its average volume of 1,221,266. Constellation Brands, Inc. has a 12-month low of $224.76 and a 12-month high of $274.87. 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 business's fifty day simple moving average is $240.10 and its 200 day simple moving average is $246.23. The company has a market cap of $43.39 billion, a PE ratio of 77.35, a PEG ratio of 1.68 and a beta of 0.90.

Constellation Brands (NYSE:STZ - Get Free Report) last released its earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share for the quarter, beating the consensus estimate of $4.08 by $0.24. The firm had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.95 billion. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The company's revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.70 EPS. Equities research analysts expect that Constellation Brands, Inc. will post 13.57 EPS for the current year.

Constellation Brands Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Tuesday, November 5th were paid a dividend of $1.01 per share. The ex-dividend date was Tuesday, November 5th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.69%. Constellation Brands's dividend payout ratio is presently 130.74%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Truist Financial decreased their target price on shares of Constellation Brands from $265.00 to $255.00 and set a "hold" rating on the stock in a research note on Friday, October 4th. TD Cowen downgraded shares of Constellation Brands from a "buy" rating to a "hold" rating and decreased their price objective for the company from $300.00 to $270.00 in a research report on Tuesday, October 8th. Evercore ISI lowered their target price on shares of Constellation Brands from $310.00 to $300.00 and set an "outperform" rating on the stock in a research note on Friday, October 4th. JPMorgan Chase & Co. cut their price target on Constellation Brands from $307.00 to $293.00 and set an "overweight" rating for the company in a research note on Friday, October 4th. Finally, Roth Mkm restated a "buy" rating and issued a $298.00 price objective on shares of Constellation Brands in a research report on Friday, October 4th. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, Constellation Brands has a consensus rating of "Moderate Buy" and a consensus price target of $288.70.

Insider Activity at Constellation Brands

In related news, EVP Samuel J. Glaetzer sold 1,510 shares of Constellation Brands stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $245.57, for a total transaction of $370,810.70. Following the completion of the sale, the executive vice president now owns 4,970 shares in the company, valued at $1,220,482.90. This trade represents a 23.30 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO William A. Newlands sold 7,426 shares of the firm's stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $237.24, for a total transaction of $1,761,744.24. Following the transaction, the chief executive officer now directly owns 7,274 shares in the company, valued at approximately $1,725,683.76. This trade represents a 50.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 189,956 shares of company stock worth $46,058,091. Insiders own 12.19% of the company's stock.

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.