Cullen Frost Bankers Inc. Grows Holdings in Constellation Brands, Inc. (NYSE:STZ)

Cullen Frost Bankers Inc. grew its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 2.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 56,769 shares of the company’s stock after purchasing an additional 1,123 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Constellation Brands were worth $13,724,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Everpar Advisors LLC purchased a new stake in Constellation Brands in the 4th quarter valued at about $945,000. Barlow Wealth Partners Inc. purchased a new stake in shares of Constellation Brands in the 4th quarter worth $304,000. Peddock Capital Advisors LLC grew its position in shares of Constellation Brands by 0.5% during the 4th quarter. Peddock Capital Advisors LLC now owns 18,576 shares of the company’s stock worth $4,491,000 after buying an additional 96 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Constellation Brands by 38.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,403,495 shares of the company’s stock valued at $335,402,000 after buying an additional 388,390 shares during the period. Finally, Apollon Wealth Management LLC raised its holdings in shares of Constellation Brands by 68.5% in the fourth quarter. Apollon Wealth Management LLC now owns 3,150 shares of the company’s stock valued at $762,000 after acquiring an additional 1,281 shares in the last quarter. 77.34% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on STZ shares. Royal Bank of Canada increased their target price on shares of Constellation Brands from $295.00 to $308.00 and gave the stock an “outperform” rating in a report on Friday, April 12th. Evercore ISI lifted their price objective on shares of Constellation Brands from $300.00 to $310.00 and gave the company an “outperform” rating in a report on Friday, April 12th. Wedbush restated an “outperform” rating and set a $300.00 target price on shares of Constellation Brands in a report on Wednesday, April 10th. Roth Mkm reiterated a “buy” rating and issued a $305.00 price target on shares of Constellation Brands in a report on Friday, April 12th. Finally, Argus raised 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 given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $298.55.

Constellation Brands Stock Performance

Shares of NYSE:STZ traded down $0.13 on Wednesday, hitting $258.36. 404,746 shares of the company were exchanged, compared to its average volume of 1,216,033. The firm has a market capitalization of $47.27 billion, a P/E ratio of 27.54, a price-to-earnings-growth ratio of 1.73 and a beta of 1.75. The company has a current ratio of 1.19, a quick ratio of 0.53 and a debt-to-equity ratio of 1.06. Constellation Brands, Inc. has a 1-year low of $223.01 and a 1-year high of $274.87. The stock’s 50 day moving average price is $261.27 and its 200 day moving average price is $249.24.

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

Constellation Brands Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Friday, May 3rd will be issued a $1.01 dividend. This represents a $4.04 annualized dividend and a yield of 1.56%. The ex-dividend date is Thursday, May 2nd. This is an increase from Constellation Brands’s previous quarterly dividend of $0.89. Constellation Brands’s dividend payout ratio is 43.07%.

Insiders Place Their Bets

In other Constellation Brands news, EVP Michael Mcgrew sold 3,237 shares of the stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $255.50, for a total transaction of $827,053.50. Following the sale, the executive vice president now directly owns 1,731 shares of the company’s stock, valued at approximately $442,270.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Michael Mcgrew sold 3,237 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $255.50, for a total transaction of $827,053.50. Following the sale, the executive vice president now directly owns 1,731 shares of the company’s stock, valued at approximately $442,270.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO William A. Newlands sold 4,013 shares of the business’s stock in a transaction that occurred on Friday, April 19th. The shares were sold at an average price of $263.25, for a total value of $1,056,422.25. Following the completion of the sale, the chief executive officer now owns 5,395 shares of the company’s stock, valued at $1,420,233.75. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,031 shares of company stock valued at $6,043,821. 16.19% of the stock is owned by insiders.

Constellation Brands Profile

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.