Oppenheimer & Co. Inc. Has $3.30 Million Holdings in Constellation Brands, Inc. (NYSE:STZ)

Oppenheimer & Co. Inc. increased its stake in shares of Constellation Brands, Inc. (NYSE:STZ - Free Report) by 35.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,802 shares of the company's stock after acquiring an additional 3,321 shares during the period. Oppenheimer & Co. Inc.'s holdings in Constellation Brands were worth $3,299,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Pinnacle Financial Partners Inc lifted its stake in Constellation Brands by 2.3% in the third quarter. Pinnacle Financial Partners Inc now owns 7,381 shares of the company's stock valued at $1,902,000 after acquiring an additional 169 shares during the last quarter. MQS Management LLC acquired a new stake in Constellation Brands in the 3rd quarter valued at about $899,000. Souders Financial Advisors grew its holdings in Constellation Brands by 7.2% during the third quarter. Souders Financial Advisors now owns 12,783 shares of the company's stock worth $3,294,000 after purchasing an additional 864 shares during the period. Empower Advisory Group LLC grew its holdings in Constellation Brands by 8.2% during the third quarter. Empower Advisory Group LLC now owns 1,330 shares of the company's stock worth $343,000 after purchasing an additional 101 shares during the period. Finally, Dillon & Associates Inc. increased its position in Constellation Brands by 1.3% during the third quarter. Dillon & Associates Inc. now owns 42,664 shares of the company's stock worth $11,007,000 after buying an additional 551 shares during the last quarter. Institutional investors and hedge funds own 77.34% of the company's stock.

Analyst Ratings Changes

STZ has been the subject of a number of recent analyst reports. Morgan Stanley cut their price objective on Constellation Brands from $305.00 to $280.00 and set an "overweight" rating for the company in a research report on Monday, August 26th. Evercore ISI dropped their price objective on shares of Constellation Brands from $310.00 to $300.00 and set an "outperform" rating on the stock in a research report on Friday, October 4th. BMO Capital Markets decreased their price target on shares of Constellation Brands from $315.00 to $305.00 and set an "outperform" rating on the stock in a research note on Tuesday, October 15th. Roth Mkm restated a "buy" rating and set a $298.00 price objective on shares of Constellation Brands in a research report on Friday, October 4th. Finally, Truist Financial decreased their target price on Constellation Brands from $265.00 to $255.00 and set a "hold" rating on the stock in a research report on Friday, October 4th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Constellation Brands currently has a consensus rating of "Moderate Buy" and an average price target of $290.47.

Constellation Brands Price Performance

Shares of NYSE:STZ traded down $4.49 during midday trading on Friday, hitting $237.51. The stock had a trading volume of 1,426,660 shares, compared to its average volume of 1,203,183. The company's 50-day moving average price is $244.13 and its 200-day moving average price is $248.09. Constellation Brands, Inc. has a fifty-two week low of $224.76 and a fifty-two week 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 company has a market capitalization of $43.12 billion, a P/E ratio of 76.86, a price-to-earnings-growth ratio of 1.70 and a beta of 1.75.

Constellation Brands (NYSE:STZ - Get Free Report) last announced its quarterly earnings data on Thursday, October 3rd. The company reported $4.32 EPS for the quarter, beating the consensus estimate of $4.08 by $0.24. The business had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.95 billion. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. The company's revenue was up 2.9% on a year-over-year basis. During the same period in the previous year, the business earned $3.70 earnings per share. As a group, equities research analysts predict that Constellation Brands, Inc. will post 13.57 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Tuesday, November 5th will be paid a $1.01 dividend. This represents a $4.04 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend is Tuesday, November 5th. Constellation Brands's dividend payout ratio (DPR) is presently 130.74%.

Insider Buying and Selling at Constellation Brands

In other Constellation Brands news, EVP Samuel J. Glaetzer sold 1,510 shares of the firm's stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $245.57, for a total value of $370,810.70. Following 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO William A. Newlands sold 25,000 shares of the company's stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $243.58, for a total transaction of $6,089,500.00. Following the transaction, the chief executive officer now owns 7,274 shares of the company's stock, valued at $1,771,800.92. This trade represents a 77.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 189,296 shares of company stock worth $45,899,031 over the last 90 days. Insiders own 12.19% of the company's stock.

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.