Independence Bank of Kentucky Raises Stake in Constellation Brands, Inc. (NYSE:STZ)

Independence Bank of Kentucky lifted its position in shares of Constellation Brands, Inc. (NYSE:STZFree Report) by 240.9% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 1,466 shares of the company’s stock after buying an additional 1,036 shares during the period. Independence Bank of Kentucky’s holdings in Constellation Brands were worth $354,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of STZ. Moneta Group Investment Advisors LLC boosted its holdings in shares of Constellation Brands by 84,839.5% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 3,742,434 shares of the company’s stock worth $867,309,000 after purchasing an additional 3,738,028 shares during the last quarter. Norges Bank purchased a new position in Constellation Brands during the fourth quarter worth about $373,796,000. Barclays PLC boosted its stake in Constellation Brands by 102.0% in the 2nd quarter. Barclays PLC now owns 2,937,570 shares of the company’s stock worth $723,027,000 after buying an additional 1,483,668 shares during the last quarter. Morgan Stanley grew its holdings in Constellation Brands by 31.3% in the 4th quarter. Morgan Stanley now owns 3,809,273 shares of the company’s stock valued at $882,799,000 after buying an additional 908,486 shares during the period. Finally, Darsana Capital Partners LP increased its stake in shares of Constellation Brands by 288.9% during the 3rd quarter. Darsana Capital Partners LP now owns 875,000 shares of the company’s stock valued at $219,914,000 after acquiring an additional 650,000 shares during the last quarter. Institutional investors and hedge funds own 77.34% of the company’s stock.

Insider Activity at Constellation Brands

In other Constellation Brands news, major shareholder Family Foundation Sands sold 354,616 shares of the firm’s stock in a transaction dated Monday, January 8th. The shares were sold at an average price of $250.26, for a total value of $88,746,200.16. Following the transaction, the insider now owns 54,461 shares of the company’s stock, valued at $13,629,409.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 16.19% of the company’s stock.

Constellation Brands Price Performance

Shares of NYSE STZ opened at $267.47 on Wednesday. The firm has a market cap of $48.90 billion, a PE ratio of 31.65, a price-to-earnings-growth ratio of 1.85 and a beta of 0.97. The company has a quick ratio of 0.46, a current ratio of 1.05 and a debt-to-equity ratio of 1.05. The business has a 50 day moving average price of $254.01 and a two-hundred day moving average price of $246.45. Constellation Brands, Inc. has a fifty-two week low of $217.05 and a fifty-two week high of $273.65.

Constellation Brands (NYSE:STZGet Free Report) last announced its quarterly earnings data on Friday, January 5th. The company reported $3.19 earnings per share for the quarter, topping the consensus estimate of $3.03 by $0.16. Constellation Brands had a net margin of 14.76% and a return on equity of 23.35%. The company had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.54 billion. During the same period last year, the business earned $2.83 EPS. The firm’s revenue for the quarter was up 1.4% compared to the same quarter last year. Sell-side analysts expect that Constellation Brands, Inc. will post 11.91 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 22nd. Stockholders of record on Thursday, February 8th were given a $0.89 dividend. The ex-dividend date of this dividend was Wednesday, February 7th. This represents a $3.56 annualized dividend and a dividend yield of 1.33%. Constellation Brands’s payout ratio is 42.13%.

Wall Street Analyst Weigh In

STZ has been the topic of several research analyst reports. TheStreet cut shares of Constellation Brands from a “b” rating to a “c+” rating in a research report on Friday, January 5th. Evercore ISI reissued an “outperform” rating and set a $300.00 price objective on shares of Constellation Brands in a research note on Wednesday, March 27th. JPMorgan Chase & Co. cut their target price on Constellation Brands from $309.00 to $301.00 and set an “overweight” rating on the stock in a research report on Thursday, December 21st. Piper Sandler started coverage on Constellation Brands in a research report on Friday, March 22nd. They set an “overweight” rating and a $300.00 price target for the company. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $295.00 price objective on shares of Constellation Brands in a research note on Thursday, March 7th. Four analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $290.37.

View Our Latest Stock Analysis on Constellation Brands

Constellation Brands Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Constellation Brands (NYSE:STZ)

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