Providence Capital Advisors LLC Has $5.74 Million Stock Position in Constellation Brands, Inc. (NYSE:STZ)

Providence Capital Advisors LLC raised its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 39,878.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 25,986 shares of the company’s stock after purchasing an additional 25,921 shares during the period. Providence Capital Advisors LLC’s holdings in Constellation Brands were worth $5,743,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Norges Bank bought a new position in shares of Constellation Brands during the fourth quarter worth about $445,883,000. Vanguard Group Inc. raised its holdings in Constellation Brands by 13.3% during the 4th quarter. Vanguard Group Inc. now owns 15,534,787 shares of the company’s stock worth $3,433,188,000 after purchasing an additional 1,821,969 shares during the last quarter. Van ECK Associates Corp lifted its position in shares of Constellation Brands by 1,844.7% in the 4th quarter. Van ECK Associates Corp now owns 924,274 shares of the company’s stock worth $204,265,000 after purchasing an additional 876,745 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Constellation Brands in the 4th quarter valued at $105,766,000. Finally, State Street Corp increased its position in shares of Constellation Brands by 6.0% during the third quarter. State Street Corp now owns 7,144,428 shares of the company’s stock worth $1,841,048,000 after buying an additional 402,211 shares during the period. 77.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on STZ. Morgan Stanley cut shares of Constellation Brands from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $220.00 to $202.00 in a research report on Thursday, February 27th. UBS Group decreased their target price on Constellation Brands from $265.00 to $223.00 and set a “buy” rating for the company in a research note on Friday, January 17th. TD Cowen dropped their price target on Constellation Brands from $270.00 to $260.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Piper Sandler lowered shares of Constellation Brands from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $245.00 to $200.00 in a research note on Monday, February 3rd. Finally, Wells Fargo & Company cut their target price on shares of Constellation Brands from $295.00 to $275.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $249.18.

Constellation Brands Price Performance

STZ opened at $184.35 on Friday. The firm has a market cap of $33.32 billion, a P/E ratio of 49.56, a PEG ratio of 1.52 and a beta of 1.75. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.46 and a current ratio of 1.10. Constellation Brands, Inc. has a fifty-two week low of $160.46 and a fifty-two week high of $274.87. The firm has a 50-day moving average of $177.20 and a 200 day moving average of $215.45.

Constellation Brands (NYSE:STZ) last released its earnings results on Friday, January 10th. The company reported $3.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.08). The firm had revenue of $2.46 billion during the quarter, compared to analysts’ expectations of $2.53 billion. Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The business’s quarterly revenue was down .3% compared to the same quarter last year. During the same period in the prior year, the business earned $3.19 earnings per share. On average, research analysts expect that Constellation Brands, Inc. will post 13.5 EPS for the current year.

Constellation Brands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 7th were paid a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date was Friday, February 7th. Constellation Brands’s payout ratio is currently 108.60%.

Insider Buying and Selling

In related news, Director William T. Giles bought 1,000 shares of the company’s stock in a transaction on Friday, January 17th. The shares were purchased at an average price of $186.39 per share, for a total transaction of $186,390.00. Following the completion of the transaction, the director now directly owns 1,463 shares in the company, valued at approximately $272,688.57. The trade was a 215.98 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 12.19% of the stock is owned by 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.