Oak Harvest Investment Services, a renowned investment firm, has recently increased its holdings in Constellation Brands, Inc. This move demonstrates the company’s confidence in the growth and potential of Constellation Brands.
According to the filing with the Securities and Exchange Commission (SEC), Oak Harvest Investment Services now owns 29,615 shares of Constellation Brands’ stock. This represents a 5.5% increase compared to the previous quarter, with an additional 1,557 shares acquired during that period. Interestingly, Constellation Brands accounts for 1.5% of Oak Harvest Investment Services’ overall investment portfolio, making it the firm’s 17th largest position.
The valuation of Oak Harvest Investment Services’ holdings in Constellation Brands currently stands at an impressive $6,690,000 as of the end of the reporting period. This substantial investment showcases Oak Harvest’s belief in the company’s future prospects and indicates its commitment to capitalizing on this opportunity.
Constellation Brands has also made headlines recently with the announcement of its quarterly dividend payment. On Thursday, August 24th, dividends will be distributed to stockholders who were recorded as such on Thursday, August 10th. The dividend payment amounts to $0.89 per share on an annualized basis.
With a payout ratio currently standing at -194.54%, Constellation Brands is demonstrating a dedication to providing shareholders with consistent returns despite challenging financial circumstances.
In addition to these significant developments, there have been recent insider transactions involving Constellation Brands’ stock. Director Richard Sands sold a staggering 3,858,476 shares on Wednesday, May 10th at an average price of $223.53 per share. This transaction amounted to a total value of $862,485,140.28.
It is worth noting that following this sale; Sands retains ownership over an impressive number of shares—20,488,818—which are valued at approximately $4,579,:865,487.54. The filing with the SEC provides transparency to shareholders, allowing them insight into insider activity.
Moreover, major shareholder Business Holdings Lp Ajb sold 650,000 shares of Constellation Brands’ stock on the same day as Sands’ transaction. These shares were sold at an average price of $223.53 per share, amounting to a total value of $145,294,500.00. Following this sale, Business Holdings Lp Ajb retains ownership over 3,365,715 shares valued at approximately $752,:338,:273.95.
The disclosure statements related to these transactions can be found on the Securities & Exchange Commission’s website and provide investors with access to crucial information regarding ownership shifts in Constellation Brands.
Collectively speaking, these recent events indicate that there is a high level of investor interest in Constellation Brands. Increased holdings by Oak Harvest Investment Services and multiple insider transactions suggest growing confidence in the company’s future endeavors and potential for profitability.
Investors should closely monitor these developments and carefully consider their own investment strategies based on this new information. The current state of affairs within Constellation Brands offers both opportunities and challenges for stakeholders seeking long-term growth and stability within their portfolios.
As of July 3rd, 2023, Constellation Brands continues to navigate its path forward while aiming to create value for its shareholders amidst a rapidly evolving landscape in the financial markets.
[bs_slider_forecast ticker=”STZ”]
Institutional Investors Take Notice: Constellation Brands Gains Attention and Upgrades in 2023
July 3, 2023
The recent activity of institutional investors in Constellation Brands (NYSE:STZ) has caught the attention of market observers and analysts. AXS Investments LLC, Baystate Wealth Management LLC, Zions Bancorporation N.A., Resurgent Financial Advisors LLC, and MV Capital Management Inc. have all made moves in acquiring or reducing their stakes in the company.
AXS Investments LLC entered the scene during the 4th quarter by purchasing a new stake in Constellation Brands valued at approximately $26,000. Baystate Wealth Management LLC increased its position by a staggering 80% during the same period, now owning 135 shares of STZ stock valued at $31,000 after purchasing an additional 60 shares. Zions Bancorporation N.A., not wanting to be left behind, joined in by increasing its position with an additional purchase of 80 shares during the last quarter, bringing their total to 139 shares valued at $32,000.
Resurgent Financial Advisors LLC also decided to join the ranks of investors during the 4th quarter by purchasing shares of Constellation Brands worth about $34,000. Finally, MV Capital Management Inc. rounded out this parade of increases by acquiring an additional 48 shares last quarter, leading them to own a total of 152 shares valued at $35,000.
It is worth noting that hedge funds and other institutional investors currently own a substantial majority of Constellation Brands’ stock at a rate of 86.49%.
These transactions have not gone unnoticed by various brokerages providing analysis on STZ. TheStreet notably upgraded Constellation Brands from a “c+” rating to a “b-” rating in June this year. BMO Capital Markets also chimed in with an increase to their price objective from $263.00 to $290.00 for STZ’s stock.
Furthermore, Roth Mkm raised their rating on Constellation Brands from neutral to buy and increased their price objective from $216.00 to $270.00 earlier this year. Royal Bank of Canada, on the other hand, maintained an “outperform” rating and set a price target of $295.00.
These upgrades contributed to Constellation Brands’ consensus rating of “Moderate Buy” with a consensus target price of $262.19 as reported by Bloomberg.com.
In addition to these developments, Constellation Brands recently announced their quarterly dividend, which will be paid on August 24th this year. Stockholders recorded on August 10th will receive a dividend of $0.89 per share, amounting to a total annualized dividend yield of 1.45%. It is worth pointing out that Constellation Brands’ payout ratio currently stands at -194.54%.
As for its stock performance, shares of STZ opened at $246.13 on Monday with a market capitalization of $45.11 billion. The company boasts a P/E ratio of -134.50 and a P/E/G ratio of 1.87, indicating future growth prospects for investors to consider.
Constellation Brands has shown resilience over the past year through the volatility in the markets, with its stock reaching a low of $208.12 and achieving a high of $261.32 during this period.
Its financial performance has also been promising, as demonstrated in its recent quarterly earnings report released on June 30th. Constellation Brands reported earnings per share (EPS) of $2.91 for the quarter, surpassing analysts’ estimates by $0.08.
Furthermore, the company generated revenue totaling $2.51 billion for the quarter, exceeding analyst expectations of $2.47 billion in revenue.
Constellation Brands also displayed positive return on equity (ROE) at 22.32%, showcasing its ability to generate value for shareholders despite facing challenges within the industry. However, it is essential to note that the company had a negative net margin of 3.14%, indicative of potential areas for management focus.
Overall, Constellation Brands has demonstrated stability and strong financial performance, attracting the attention of institutional investors and analysts alike. With a consensus rating of “Moderate Buy” and encouraging earnings projections, STZ presents an intriguing investment opportunity in today’s market.
As we move forward into the latter half of 2023, it will be interesting to see how Constellation Brands continues to navigate the dynamic landscape of the beverage industry and whether its stock will continue to attract additional institutional investors seeking potential returns.
Disclaimer: The above article should be considered as a third-party analysis and not as financial advice. It is recommended to conduct thorough research or consult with a professional financial advisor before making any investment decisions.
