Headlands Technologies LLC Purchases New Shares in Constellation Brands, Inc. (NYSE:STZ)

Headlands Technologies LLC purchased a new stake in Constellation Brands, Inc. (NYSE:STZ) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 1,364 shares of the company’s stock, valued at approximately $330,000.

Other large investors have also added to or reduced their stakes in the company. Strategic Blueprint LLC boosted its holdings in shares of Constellation Brands by 5.6% during the 3rd quarter. Strategic Blueprint LLC now owns 1,571 shares of the company’s stock valued at $395,000 after buying an additional 84 shares in the last quarter. Oak Thistle LLC boosted its holdings in shares of Constellation Brands by 36.9% during the 3rd quarter. Oak Thistle LLC now owns 1,344 shares of the company’s stock valued at $338,000 after buying an additional 362 shares in the last quarter. Ballentine Partners LLC boosted its holdings in shares of Constellation Brands by 7.1% during the 3rd quarter. Ballentine Partners LLC now owns 2,438 shares of the company’s stock valued at $613,000 after buying an additional 162 shares in the last quarter. Trust Co. of Toledo NA OH bought a new stake in shares of Constellation Brands during the 3rd quarter valued at $249,000. Finally, Linden Thomas Advisory Services LLC bought a new stake in shares of Constellation Brands during the 3rd quarter valued at $1,611,000. Institutional investors own 77.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on STZ shares. Barclays boosted their target price on shares of Constellation Brands from $294.00 to $295.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Argus upgraded shares of Constellation Brands from a “hold” rating to a “buy” rating and set a $306.00 target price on the stock in a report on Monday, April 15th. Royal Bank of Canada upped their price target on shares of Constellation Brands from $295.00 to $308.00 and gave the stock an “outperform” rating in a research note on Friday, April 12th. Piper Sandler began coverage on shares of Constellation Brands in a research note on Friday, March 22nd. They issued an “overweight” rating and a $300.00 price target on the stock. Finally, UBS Group upped their price target on shares of Constellation Brands from $312.00 to $320.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. Three investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $298.55.

Insider Activity

In other news, CEO William A. Newlands sold 4,013 shares of the company’s stock in a transaction dated Friday, April 19th. The shares were sold at an average price of $263.25, for a total transaction of $1,056,422.25. Following the completion of the sale, the chief executive officer now owns 5,395 shares of the company’s stock, valued at approximately $1,420,233.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP James A. Jr. Sabia sold 15,781 shares of the stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $263.63, for a total value of $4,160,345.03. Following the completion of the sale, the executive vice president now directly owns 20,910 shares of the company’s stock, valued at approximately $5,512,503.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William A. Newlands sold 4,013 shares of the stock in a transaction that occurred on Friday, April 19th. The stock was sold at an average price of $263.25, for a total transaction of $1,056,422.25. Following the completion of the sale, the chief executive officer now directly owns 5,395 shares of the company’s stock, valued at $1,420,233.75. The disclosure for this sale can be found here. Insiders own 16.19% of the company’s stock.

Constellation Brands Price Performance

NYSE STZ opened at $260.04 on Friday. Constellation Brands, Inc. has a 52 week low of $221.81 and a 52 week high of $274.87. The firm has a market capitalization of $47.54 billion, a P/E ratio of 27.72, a PEG ratio of 1.76 and a beta of 1.75. The company has a quick ratio of 0.53, a current ratio of 1.19 and a debt-to-equity ratio of 1.06. The company has a 50-day moving average price of $259.80 and a 200-day moving average price of $248.01.

Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Thursday, April 11th. The company reported $2.26 EPS for the quarter, beating the consensus estimate of $2.10 by $0.16. Constellation Brands had a net margin of 16.13% and a return on equity of 23.06%. The firm had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.09 billion. During the same quarter in the prior year, the firm earned $1.98 EPS. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. Equities research analysts anticipate that Constellation Brands, Inc. will post 13.51 earnings per share for the current year.

Constellation Brands Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Friday, May 3rd will be given a dividend of $1.01 per share. The ex-dividend date is Thursday, May 2nd. This represents a $4.04 annualized dividend and a dividend yield of 1.55%. This is a positive change from Constellation Brands’s previous quarterly dividend of $0.89. Constellation Brands’s dividend payout ratio is presently 43.07%.

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 Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Victoria, Vicky Chamoy, and Pacifico brands.