Bahl & Gaynor Inc. Has $1.19 Million Stake in Constellation Brands, Inc. (NYSE:STZ)

Bahl & Gaynor Inc. raised its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 15.5% in the fourth quarter, Holdings Channel reports. The fund owned 4,900 shares of the company’s stock after buying an additional 657 shares during the quarter. Bahl & Gaynor Inc.’s holdings in Constellation Brands were worth $1,185,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of STZ. Impact Partnership Wealth LLC boosted its holdings in Constellation Brands by 1,175.0% during the third quarter. Impact Partnership Wealth LLC now owns 102 shares of the company’s stock valued at $26,000 after acquiring an additional 94 shares during the period. BKM Wealth Management LLC bought a new stake in shares of Constellation Brands in the fourth quarter valued at about $28,000. Asset Dedication LLC lifted its stake in shares of Constellation Brands by 3,833.3% in the third quarter. Asset Dedication LLC now owns 118 shares of the company’s stock valued at $30,000 after buying an additional 115 shares during the period. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Constellation Brands in the fourth quarter valued at about $37,000. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Constellation Brands in the third quarter valued at about $41,000. 77.34% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on STZ. Jefferies Financial Group increased their target price on shares of Constellation Brands from $292.00 to $314.00 and gave the company a “buy” rating in a research note on Friday, April 12th. BMO Capital Markets increased their target price on shares of Constellation Brands from $290.00 to $315.00 and gave the company an “outperform” rating in a research note on Friday, April 12th. HSBC increased their price target on shares of Constellation Brands from $290.00 to $300.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Barclays increased their price target on shares of Constellation Brands from $294.00 to $295.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Finally, Argus raised shares of Constellation Brands from a “hold” rating to a “buy” rating and set a $306.00 price target for the company in a research report on Monday, April 15th. Three research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $298.55.

Insider Activity at Constellation Brands

In related news, EVP James A. Jr. Sabia sold 15,781 shares of the business’s stock in a transaction 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 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. In other Constellation Brands news, EVP James A. Jr. Sabia sold 15,781 shares of Constellation Brands stock in a transaction 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 sale, the executive vice president now directly owns 20,910 shares in the company, valued at approximately $5,512,503.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William A. Newlands sold 4,013 shares of Constellation Brands stock in a transaction on 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 in the company, valued at $1,420,233.75. The disclosure for this sale can be found here. 16.19% of the stock is currently owned by insiders.

Constellation Brands Stock Performance

Shares of Constellation Brands stock opened at $260.04 on Friday. The firm has a 50 day simple moving average of $259.80 and a 200 day simple moving average of $247.94. The firm has a market cap of $47.54 billion, a P/E ratio of 27.72, a P/E/G ratio of 1.77 and a beta of 0.97. Constellation Brands, Inc. has a fifty-two week low of $221.81 and a fifty-two week high of $274.87. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.19 and a quick ratio of 0.53.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Thursday, April 11th. The company reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates of $2.10 by $0.16. The company had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.09 billion. Constellation Brands had a net margin of 16.13% and a return on equity of 23.06%. The business’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period last year, the firm posted $1.98 earnings per share. Sell-side analysts predict that Constellation Brands, Inc. will post 13.51 earnings per share for the current fiscal year.

Constellation Brands Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Friday, May 3rd will be given a $1.01 dividend. This is a boost from Constellation Brands’s previous quarterly dividend of $0.89. This represents a $4.04 annualized dividend and a yield of 1.55%. The ex-dividend date is Thursday, May 2nd. Constellation Brands’s payout ratio is currently 37.95%.

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.