Robertson Stephens Wealth Management LLC Buys New Position in Constellation Brands Inc $STZ

Robertson Stephens Wealth Management LLC acquired a new position in shares of Constellation Brands Inc (NYSE:STZ) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 15,217 shares of the company’s stock, valued at approximately $2,099,000.

A number of other hedge funds also recently made changes to their positions in STZ. Brighton Jones LLC lifted its holdings in shares of Constellation Brands by 23.0% during the 4th quarter. Brighton Jones LLC now owns 1,001 shares of the company’s stock worth $221,000 after acquiring an additional 187 shares during the last quarter. Woodline Partners LP bought a new stake in shares of Constellation Brands during the 1st quarter worth $2,409,000. Cary Street Partners Financial LLC lifted its holdings in shares of Constellation Brands by 69.9% during the 2nd quarter. Cary Street Partners Financial LLC now owns 1,026 shares of the company’s stock worth $167,000 after acquiring an additional 422 shares during the last quarter. Bank of Nova Scotia lifted its holdings in shares of Constellation Brands by 3.6% during the 2nd quarter. Bank of Nova Scotia now owns 17,347 shares of the company’s stock worth $2,822,000 after acquiring an additional 599 shares during the last quarter. Finally, Daiwa Securities Group Inc. lifted its holdings in shares of Constellation Brands by 5.0% during the 2nd quarter. Daiwa Securities Group Inc. now owns 23,732 shares of the company’s stock worth $3,861,000 after acquiring an additional 1,127 shares during the last quarter. 77.34% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

STZ has been the subject of a number of research analyst reports. Sanford C. Bernstein lifted their price objective on shares of Constellation Brands from $195.00 to $197.00 and gave the stock an “outperform” rating in a report on Friday, January 9th. TD Cowen raised shares of Constellation Brands from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $142.00 to $190.00 in a report on Monday, April 13th. Morgan Stanley lifted their price objective on shares of Constellation Brands from $160.00 to $183.00 and gave the stock an “equal weight” rating in a report on Friday, April 10th. Evercore set a $175.00 price objective on shares of Constellation Brands and gave the stock an “outperform” rating in a report on Friday, April 10th. Finally, Needham & Company LLC lifted their price objective on shares of Constellation Brands from $180.00 to $185.00 and gave the stock a “buy” rating in a report on Friday, April 10th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $178.14.

Constellation Brands Stock Performance

Constellation Brands stock opened at $152.88 on Friday. The company has a quick ratio of 0.55, a current ratio of 1.08 and a debt-to-equity ratio of 1.16. The company has a market capitalization of $26.33 billion, a PE ratio of 15.94, a P/E/G ratio of 3.35 and a beta of 0.43. The firm has a fifty day simple moving average of $154.67 and a two-hundred day simple moving average of $147.71. Constellation Brands Inc has a twelve month low of $126.45 and a twelve month high of $196.91.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings results on Wednesday, April 8th. The company reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.71 by $0.19. The business had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.84 billion. Constellation Brands had a net margin of 17.29% and a return on equity of 26.18%. The firm’s revenue for the quarter was down 11.3% on a year-over-year basis. During the same period in the previous year, the firm posted $2.63 earnings per share. Research analysts expect that Constellation Brands Inc will post 11.9 EPS for the current year.

Constellation Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 14th. Stockholders of record on Wednesday, April 29th will be paid a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 2.7%. This is a positive change from Constellation Brands’s previous quarterly dividend of $1.02. The ex-dividend date of this dividend is Wednesday, April 29th. Constellation Brands’s payout ratio is currently 42.96%.

About Constellation Brands

Constellation Brands, Inc is a leading producer and marketer of beer, wine and spirits, with operations spanning production, importation, marketing and distribution. The company’s beverage portfolio includes a range of premium and mainstream wines and spirits alongside major imported beer brands; in the U.S. market Constellation is widely known for its role in bringing Mexican imports such as Corona and Modelo to American consumers. Constellation supplies retail, on‑premise and foodservice channels and supports its brands with national sales and marketing platforms and supply‑chain capabilities.

The company traces its roots to the Canandaigua Wine Company, founded by Marvin Sands in 1945, and evolved through organic growth and acquisition into a diversified beverage company.