City Holding Co. Acquires 452 Shares of Constellation Brands, Inc. (NYSE:STZ)

City Holding Co. lifted its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 3.7% in the first quarter, according to its most recent filing with the SEC. The firm owned 12,776 shares of the company’s stock after acquiring an additional 452 shares during the period. City Holding Co.’s holdings in Constellation Brands were worth $3,472,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in STZ. Fort Pitt Capital Group LLC boosted its stake in Constellation Brands by 5.4% in the 1st quarter. Fort Pitt Capital Group LLC now owns 346,757 shares of the company’s stock valued at $94,235,000 after buying an additional 17,658 shares in the last quarter. Ballentine Partners LLC boosted its stake in shares of Constellation Brands by 6.0% in the 1st quarter. Ballentine Partners LLC now owns 2,588 shares of the company’s stock valued at $703,000 after purchasing an additional 146 shares in the last quarter. RDA Financial Network grew its holdings in shares of Constellation Brands by 2.3% in the 1st quarter. RDA Financial Network now owns 1,923 shares of the company’s stock worth $523,000 after purchasing an additional 44 shares during the last quarter. Radnor Capital Management LLC increased its position in shares of Constellation Brands by 8.7% during the 1st quarter. Radnor Capital Management LLC now owns 6,579 shares of the company’s stock worth $1,788,000 after purchasing an additional 529 shares in the last quarter. Finally, Cooper Financial Group lifted its holdings in Constellation Brands by 9.8% during the 1st quarter. Cooper Financial Group now owns 3,086 shares of the company’s stock valued at $839,000 after purchasing an additional 275 shares during the last quarter. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Jefferies Financial Group upped their price objective on shares of Constellation Brands from $292.00 to $314.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. Bank of America raised their price target on Constellation Brands from $290.00 to $300.00 and gave the company a “buy” rating in a report on Monday, March 18th. Piper Sandler initiated coverage on Constellation Brands in a research note on Friday, March 22nd. They issued an “overweight” rating and a $300.00 price objective on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $308.00 target price on shares of Constellation Brands in a research note on Tuesday, May 28th. Finally, Argus upgraded shares of Constellation Brands from a “hold” rating to a “buy” rating and set a $306.00 price target on the stock in a research report on Monday, April 15th. Three analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $298.37.

Constellation Brands Trading Up 0.3 %

Shares of Constellation Brands stock traded up $0.67 during trading on Friday, reaching $263.50. 1,387,126 shares of the company were exchanged, compared to its average volume of 1,090,900. The business has a 50-day moving average price of $255.18 and a 200-day moving average price of $252.94. The firm has a market capitalization of $48.22 billion, a price-to-earnings ratio of 28.09, a P/E/G ratio of 1.75 and a beta of 0.89. The company has a quick ratio of 0.53, a current ratio of 1.19 and a debt-to-equity ratio of 1.06. Constellation Brands, Inc. has a twelve month low of $227.50 and a twelve month high of $274.87.

Constellation Brands (NYSE:STZ) last posted its earnings results on Thursday, April 11th. The company reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.10 by $0.16. The company had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.09 billion. Constellation Brands had a return on equity of 23.06% and a net margin of 16.13%. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.98 EPS. Sell-side analysts anticipate that Constellation Brands, Inc. will post 13.66 EPS for the current fiscal year.

Constellation Brands Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 17th. Shareholders of record on Friday, May 3rd were issued a $1.01 dividend. The ex-dividend date was Thursday, May 2nd. This is a positive change from Constellation Brands’s previous quarterly dividend of $0.89. This represents a $4.04 annualized dividend and a yield of 1.53%. Constellation Brands’s dividend payout ratio (DPR) is 43.07%.

Insider Transactions at Constellation Brands

In other Constellation Brands news, EVP James A. Jr. Sabia sold 15,781 shares of the business’s stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $263.63, for a total value of $4,160,345.03. Following the completion of the transaction, the executive vice president now directly owns 20,910 shares of the company’s stock, valued at $5,512,503.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO William A. Newlands sold 25,000 shares of the stock in a transaction on Friday, May 10th. The shares were sold at an average price of $261.54, for a total transaction of $6,538,500.00. Following the completion of the sale, the chief executive officer now owns 14,700 shares of the company’s stock, valued at $3,844,638. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP James A. Jr. Sabia sold 15,781 shares of the firm’s stock in a transaction on Friday, April 12th. The stock was sold at an average price of $263.63, for a total transaction of $4,160,345.03. Following the sale, the executive vice president now owns 20,910 shares in the company, valued at $5,512,503.30. The disclosure for this sale can be found here. Insiders have sold a total of 48,031 shares of company stock valued at $12,582,321 over the last three months. 12.19% of the stock is currently owned by corporate insiders.

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.