Principal Securities Inc. Acquires 1,533 Shares of Constellation Brands, Inc. (NYSE:STZ)

Principal Securities Inc. boosted its holdings in Constellation Brands, Inc. (NYSE:STZ) by 22.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 8,229 shares of the company’s stock after acquiring an additional 1,533 shares during the quarter. Principal Securities Inc.’s holdings in Constellation Brands were worth $1,819,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Stratos Wealth Advisors LLC increased its position in Constellation Brands by 6.4% during the 3rd quarter. Stratos Wealth Advisors LLC now owns 2,913 shares of the company’s stock valued at $751,000 after buying an additional 175 shares in the last quarter. Blue Trust Inc. grew its stake in shares of Constellation Brands by 181.3% in the third quarter. Blue Trust Inc. now owns 1,021 shares of the company’s stock worth $263,000 after acquiring an additional 658 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Constellation Brands by 17.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 12,361 shares of the company’s stock worth $3,185,000 after acquiring an additional 1,833 shares during the last quarter. Northwest Investment Counselors LLC bought a new position in shares of Constellation Brands during the third quarter valued at $62,000. Finally, Whittier Trust Co. of Nevada Inc. raised its position in shares of Constellation Brands by 7.7% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,097 shares of the company’s stock worth $283,000 after purchasing an additional 78 shares during the last quarter. Institutional investors own 77.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Needham & Company LLC reissued a “buy” rating and set a $240.00 price objective on shares of Constellation Brands in a research report on Monday, January 27th. UBS Group reduced their price target on shares of Constellation Brands from $265.00 to $223.00 and set a “buy” rating for the company in a research report on Friday, January 17th. Truist Financial decreased their price objective on shares of Constellation Brands from $255.00 to $190.00 and set a “hold” rating for the company in a report on Tuesday, January 14th. Morgan Stanley reduced their target price on Constellation Brands from $280.00 to $220.00 and set an “overweight” rating for the company in a report on Monday, January 13th. Finally, Barclays decreased their price target on Constellation Brands from $282.00 to $214.00 and set an “overweight” rating for the company in a research note on Tuesday, January 14th. Ten research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $254.29.

Constellation Brands Price Performance

Shares of Constellation Brands stock opened at $169.11 on Wednesday. The stock’s fifty day moving average is $199.72 and its 200 day moving average is $227.61. Constellation Brands, Inc. has a one year low of $160.46 and a one year high of $274.87. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.46 and a current ratio of 1.10. The stock has a market cap of $30.56 billion, a P/E ratio of 45.46, a P/E/G ratio of 1.51 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings data 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). The company had revenue of $2.46 billion for the quarter, compared to analysts’ expectations of $2.53 billion. Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. The firm’s quarterly revenue was down .3% on a year-over-year basis. During the same period in the previous year, the firm earned $3.19 earnings per share. Sell-side analysts anticipate that Constellation Brands, Inc. will post 13.5 earnings per share for the current year.

Constellation Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Friday, February 7th will be paid a $1.01 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 2.39%. Constellation Brands’s dividend payout ratio (DPR) is presently 108.60%.

Insider Activity

In other Constellation Brands news, Director William T. Giles purchased 1,000 shares of the business’s stock in a transaction on Friday, January 17th. The stock was acquired at an average price of $186.39 per share, for a total transaction of $186,390.00. Following the purchase, the director now owns 1,463 shares of the company’s stock, valued at approximately $272,688.57. This represents a 215.98 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 12.19% of the company’s stock.

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.