Secure Asset Management LLC Grows Position in Constellation Brands, Inc. (NYSE:STZ)

Secure Asset Management LLC boosted its stake in Constellation Brands, Inc. (NYSE:STZ) by 18.0% in the 4th quarter, Holdings Channel reports. The firm owned 7,489 shares of the company’s stock after acquiring an additional 1,145 shares during the quarter. Secure Asset Management LLC’s holdings in Constellation Brands were worth $1,655,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of STZ. AE Wealth Management LLC lifted its stake in Constellation Brands by 10.2% during the second quarter. AE Wealth Management LLC now owns 1,530 shares of the company’s stock worth $394,000 after purchasing an additional 142 shares during the last quarter. ProShare Advisors LLC lifted its stake in Constellation Brands by 16.4% in the second quarter. ProShare Advisors LLC now owns 23,486 shares of the company’s stock worth $6,042,000 after acquiring an additional 3,310 shares during the period. Public Sector Pension Investment Board increased its position in shares of Constellation Brands by 78.3% during the second quarter. Public Sector Pension Investment Board now owns 5,704 shares of the company’s stock valued at $1,468,000 after buying an additional 2,504 shares during the period. Marshall Wace LLP lifted its stake in shares of Constellation Brands by 48.0% in the 2nd quarter. Marshall Wace LLP now owns 65,487 shares of the company’s stock valued at $16,848,000 after purchasing an additional 21,230 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in shares of Constellation Brands by 60.4% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 31,508 shares of the company’s stock valued at $8,106,000 after buying an additional 11,866 shares in the last quarter. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Insider Buying and Selling at Constellation Brands

In other Constellation Brands news, major shareholder Wildstar Partners Llc sold 660 shares of the company’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $241.00, for a total transaction of $159,060.00. Following the completion of the sale, the insider now directly owns 1,736,884 shares in the company, valued at $418,589,044. This represents a 0.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director William T. Giles purchased 1,000 shares of Constellation Brands stock in a transaction on Friday, January 17th. The shares were acquired at an average cost of $186.39 per share, for a total transaction of $186,390.00. Following the completion of the transaction, the director now owns 1,463 shares of the company’s stock, valued at $272,688.57. This represents a 215.98 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders sold 69,172 shares of company stock valued at $16,778,841. Corporate insiders own 12.19% of the company’s stock.

Constellation Brands Price Performance

Constellation Brands stock opened at $179.36 on Friday. The company has a current ratio of 1.10, a quick ratio of 0.46 and a debt-to-equity ratio of 1.26. Constellation Brands, Inc. has a 12-month low of $176.51 and a 12-month high of $274.87. The stock has a market cap of $32.42 billion, a P/E ratio of 48.21, a price-to-earnings-growth ratio of 1.61 and a beta of 1.75. The company has a fifty day simple moving average of $223.36 and a 200-day simple moving average of $237.32.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings data on Friday, January 10th. The company reported $3.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.33 by ($0.08). The business had revenue of $2.46 billion for 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%. During the same period in the previous year, the business posted $3.19 earnings per share. The company’s revenue for the quarter was down .3% on a year-over-year basis. Equities analysts expect that Constellation Brands, Inc. will post 13.52 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Friday, February 7th will be issued a $1.01 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 2.25%. Constellation Brands’s dividend payout ratio is presently 108.60%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Piper Sandler lowered their price target on Constellation Brands from $300.00 to $245.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. UBS Group cut their price target 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. Barclays reduced their price objective on Constellation Brands from $282.00 to $214.00 and set an “overweight” rating for the company in a research note on Tuesday, January 14th. Truist Financial lowered their price target on shares of Constellation Brands from $255.00 to $190.00 and set a “hold” rating on the stock in a report on Tuesday, January 14th. Finally, Morgan Stanley dropped their price objective on Constellation Brands from $280.00 to $220.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Constellation Brands has an average rating of “Moderate Buy” and a consensus price target of $259.05.

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.