Constellation Brands, Inc. (NYSE:STZ) Shares Acquired by Linscomb Wealth Inc.

Linscomb Wealth Inc. boosted its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 4.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,609 shares of the company’s stock after purchasing an additional 511 shares during the period. Linscomb Wealth Inc.’s holdings in Constellation Brands were worth $2,787,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in STZ. Van ECK Associates Corp raised its position in shares of Constellation Brands by 1,844.7% in the 4th quarter. Van ECK Associates Corp now owns 924,274 shares of the company’s stock valued at $204,265,000 after purchasing an additional 876,745 shares in the last quarter. State Street Corp increased its stake in shares of 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 buying an additional 402,211 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Constellation Brands by 66.3% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 369,966 shares of the company’s stock valued at $81,762,000 after acquiring an additional 147,457 shares in the last quarter. Proficio Capital Partners LLC bought a new position in Constellation Brands during the 4th quarter valued at $25,119,000. Finally, NFJ Investment Group LLC boosted its stake in Constellation Brands by 617.3% during the 3rd quarter. NFJ Investment Group LLC now owns 108,382 shares of the company’s stock valued at $27,929,000 after acquiring an additional 93,273 shares during the last quarter. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Constellation Brands Price Performance

Shares of Constellation Brands stock opened at $173.43 on Friday. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.10 and a quick ratio of 0.46. The company has a market cap of $31.34 billion, a PE ratio of 46.62, a price-to-earnings-growth ratio of 1.52 and a beta of 1.75. The firm has a fifty day moving average price of $190.04 and a two-hundred day moving average price of $224.16. Constellation Brands, Inc. has a fifty-two week low of $160.46 and a fifty-two week high of $274.87.

Constellation Brands (NYSE:STZ) last released its earnings results on Friday, January 10th. The company reported $3.25 earnings per share for the quarter, missing the consensus estimate of $3.33 by ($0.08). Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. The company had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.53 billion. During the same quarter in the previous year, the business posted $3.19 EPS. The firm’s quarterly revenue was down .3% on a year-over-year basis. Analysts expect that Constellation Brands, Inc. will post 13.5 EPS for the current year.

Constellation Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 7th were given a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date was Friday, February 7th. Constellation Brands’s dividend payout ratio is presently 108.60%.

Insider Activity at Constellation Brands

In other Constellation Brands news, Director William T. Giles purchased 1,000 shares of the stock in a transaction on 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 acquisition, the director now directly owns 1,463 shares of the company’s stock, valued at $272,688.57. This represents a 215.98 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 12.19% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on STZ. Jefferies Financial Group reissued a “hold” rating and issued a $201.00 target price (down previously from $310.00) on shares of Constellation Brands in a research report on Monday, January 13th. Truist Financial lowered 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, January 14th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $293.00 target price on shares of Constellation Brands in a report on Monday, February 3rd. StockNews.com downgraded Constellation Brands from a “hold” rating to a “sell” rating in a report on Wednesday. Finally, Piper Sandler lowered Constellation Brands from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $245.00 to $200.00 in a research report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $253.43.

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.