Providence Capital Advisors LLC Increases Stock Holdings in Constellation Brands, Inc. (NYSE:STZ)

Providence Capital Advisors LLC increased its position in Constellation Brands, Inc. (NYSE:STZ - Free Report) by 39,878.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,986 shares of the company's stock after buying an additional 25,921 shares during the period. Providence Capital Advisors LLC's holdings in Constellation Brands were worth $5,743,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in STZ. Vanguard Group Inc. grew its stake in shares of Constellation Brands by 13.3% in the 4th quarter. Vanguard Group Inc. now owns 15,534,787 shares of the company's stock worth $3,433,188,000 after buying an additional 1,821,969 shares in the last quarter. State Street Corp grew its position in Constellation Brands by 6.0% in the third quarter. State Street Corp now owns 7,144,428 shares of the company's stock worth $1,841,048,000 after acquiring an additional 402,211 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Constellation Brands by 13.2% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,176,095 shares of the company's stock worth $482,919,000 after acquiring an additional 253,445 shares during the last quarter. Norges Bank purchased a new stake in Constellation Brands during the fourth quarter valued at approximately $445,883,000. Finally, Janus Henderson Group PLC lifted its stake in shares of Constellation Brands by 1.2% in the 3rd quarter. Janus Henderson Group PLC now owns 1,853,081 shares of the company's stock valued at $477,515,000 after purchasing an additional 21,454 shares during the last quarter. 77.34% of the stock is owned by institutional investors.

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Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on STZ shares. Wells Fargo & Company decreased their price target on Constellation Brands from $295.00 to $275.00 and set an "overweight" rating on the stock in a report on Tuesday, January 7th. Truist Financial cut their price objective on shares of Constellation Brands from $255.00 to $190.00 and set a "hold" rating on the stock in a research report on Tuesday, January 14th. Argus lowered shares of Constellation Brands from a "buy" rating to a "hold" rating in a report on Tuesday, January 14th. Citigroup cut shares of Constellation Brands from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $260.00 to $200.00 in a research note on Thursday, March 20th. Finally, Morgan Stanley lowered shares of Constellation Brands from an "overweight" rating to an "equal weight" rating and reduced their price objective for the stock from $220.00 to $202.00 in a research report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, Constellation Brands currently has an average rating of "Hold" and a consensus price target of $249.18.

Insiders Place Their Bets

In other news, Director William T. Giles acquired 1,000 shares of the business's stock in a transaction dated Friday, January 17th. The shares were purchased at an average price of $186.39 per share, with a total value of $186,390.00. Following the transaction, the director now directly owns 1,463 shares in the company, valued at approximately $272,688.57. This represents a 215.98 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 12.19% of the stock is currently owned by corporate insiders.

Constellation Brands Stock Up 0.1 %

Shares of STZ traded up $0.12 during mid-day trading on Monday, hitting $183.86. The company's stock had a trading volume of 907,884 shares, compared to its average volume of 2,812,435. The company has a current ratio of 1.10, a quick ratio of 0.46 and a debt-to-equity ratio of 1.26. The company's 50-day moving average is $177.19 and its 200-day moving average is $214.50. Constellation Brands, Inc. has a 52-week low of $160.46 and a 52-week high of $274.87. The firm has a market capitalization of $33.23 billion, a price-to-earnings ratio of 49.42, a PEG ratio of 1.52 and a beta of 1.75.

Constellation Brands (NYSE:STZ - Get Free Report) last posted its earnings results on Friday, January 10th. The company reported $3.25 earnings per share for the quarter, missing analysts' consensus estimates of $3.33 by ($0.08). Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The company had revenue of $2.46 billion for the quarter, compared to analysts' expectations of $2.53 billion. During the same quarter in the prior year, the company earned $3.19 EPS. The firm's quarterly revenue was down .3% on a year-over-year basis. On average, equities research analysts forecast that Constellation Brands, Inc. will post 13.5 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 7th were paid a $1.01 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $4.04 annualized dividend and a yield of 2.20%. Constellation Brands's dividend payout ratio (DPR) is presently 108.60%.

Constellation Brands Company 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.