Rafferty Asset Management LLC Grows Holdings in Constellation Brands, Inc. (NYSE:STZ) (2024)

Rafferty Asset Management LLC boosted its position in Constellation Brands, Inc. (NYSE:STZ – Free Report) by 4.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,541 shares of the company’s stock after buying an additional 525 shares during the quarter. Rafferty Asset Management LLC’s holdings in Constellation Brands were worth $3,032,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Burns Matteson Capital Management LLC lifted its holdings in Constellation Brands by 1.7% in the 4th quarter. Burns Matteson Capital Management LLC now owns 2,499 shares of the company’s stock worth $604,000 after buying an additional 42 shares in the last quarter. 1620 Investment Advisors Inc. lifted its holdings in Constellation Brands by 1.8% in the 4th quarter. 1620 Investment Advisors Inc. now owns 2,352 shares of the company’s stock worth $569,000 after buying an additional 42 shares in the last quarter. FAS Wealth Partners Inc. lifted its holdings in Constellation Brands by 3.5% in the 4th quarter. FAS Wealth Partners Inc. now owns 1,277 shares of the company’s stock worth $309,000 after buying an additional 43 shares in the last quarter. Smithfield Trust Co lifted its holdings in Constellation Brands by 5.3% in the 4th quarter. Smithfield Trust Co now owns 854 shares of the company’s stock worth $207,000 after buying an additional 43 shares in the last quarter. Finally, Schear Investment Advisers LLC lifted its holdings in Constellation Brands by 1.8% in the 4th quarter. Schear Investment Advisers LLC now owns 2,522 shares of the company’s stock worth $610,000 after buying an additional 44 shares in the last quarter. Institutional investors and hedge funds own 77.34% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on STZ shares. Wedbush reiterated an “outperform” rating and issued a $300.00 price objective on shares of Constellation Brands in a report on Wednesday, April 10th. Evercore ISI upped their target price on shares of Constellation Brands from $300.00 to $310.00 and gave the company an “outperform” rating in a research note on Friday, April 12th. Piper Sandler assumed coverage on shares of Constellation Brands in a research note on Friday, March 22nd. They issued an “overweight” rating and a $300.00 target price on the stock. Barclays cut their target price on shares of Constellation Brands from $295.00 to $288.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 29th. Finally, Bank of America upped their target price on shares of Constellation Brands from $290.00 to $300.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, Constellation Brands has an average rating of “Moderate Buy” and a consensus target price of $298.20.

Insider Activity

In other news, EVP James A. Jr. Sabia sold 15,781 shares of the stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 20,910 shares in the company, valued at $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 news, EVP James A. Jr. Sabia sold 15,781 shares of the stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 20,910 shares in the company, valued at $5,512,503.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Michael Mcgrew sold 3,237 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $255.50, for a total transaction of $827,053.50. Following the completion of the transaction, the executive vice president now owns 1,731 shares of the company’s stock, valued at $442,270.50. The disclosure for this sale can be found here. Insiders sold 48,031 shares of company stock worth $12,582,321 over the last three months. Corporate insiders own 16.19% of the company’s stock.

Constellation Brands Price Performance

NYSE STZ opened at $250.93 on Friday. Constellation Brands, Inc. has a 52 week low of $227.50 and a 52 week high of $274.87. The company has a current ratio of 1.19, a quick ratio of 0.53 and a debt-to-equity ratio of 1.06. The stock has a market cap of $45.92 billion, a price-to-earnings ratio of 26.75, a price-to-earnings-growth ratio of 1.69 and a beta of 0.89. The company has a 50-day moving average price of $256.69 and a two-hundred day moving average price of $251.51.

Constellation Brands Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 17th. Stockholders of record on Friday, May 3rd were issued a $1.01 dividend. The ex-dividend date was Thursday, May 2nd. This is a boost from Constellation Brands’s previous quarterly dividend of $0.89. This represents a $4.04 annualized dividend and a dividend yield of 1.61%. Constellation Brands’s dividend payout ratio (DPR) is 43.07%.

Constellation Brands Profile

(Free Report)

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.