Constellation Brands, Inc. (NYSE:STZ) Shares Sold by NewEdge Wealth LLC

NewEdge Wealth LLC lowered its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 17.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 6,880 shares of the company’s stock after selling 1,501 shares during the quarter. NewEdge Wealth LLC’s holdings in Constellation Brands were worth $1,521,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. State Street Corp raised its stake in shares of Constellation Brands by 6.0% in the third quarter. State Street Corp now owns 7,144,428 shares of the company’s stock worth $1,841,048,000 after purchasing an additional 402,211 shares during the last quarter. Janus Henderson Group PLC raised its position in Constellation Brands by 1.2% during the 3rd quarter. Janus Henderson Group PLC now owns 1,853,081 shares of the company’s stock worth $477,515,000 after buying an additional 21,454 shares during the last quarter. Van ECK Associates Corp lifted its stake in Constellation Brands by 1,844.7% during the 4th quarter. Van ECK Associates Corp now owns 924,274 shares of the company’s stock valued at $204,265,000 after acquiring an additional 876,745 shares during the period. National Pension Service boosted its holdings in shares of Constellation Brands by 13.6% in the 3rd quarter. National Pension Service now owns 381,755 shares of the company’s stock valued at $98,374,000 after acquiring an additional 45,707 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its stake in shares of Constellation Brands by 66.3% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 369,966 shares of the company’s stock worth $81,762,000 after acquiring an additional 147,457 shares during the period. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Constellation Brands Stock Up 1.4 %

NYSE STZ opened at $175.74 on Friday. Constellation Brands, Inc. has a one year low of $160.46 and a one year high of $274.87. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.46 and a current ratio of 1.10. The business has a fifty day moving average price of $189.00 and a 200 day moving average price of $223.60. The company has a market cap of $31.76 billion, a P/E ratio of 47.24, a P/E/G ratio of 1.52 and a beta of 1.75.

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

Constellation Brands Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 7th were issued a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a dividend yield of 2.30%. The ex-dividend date of this dividend was Friday, February 7th. Constellation Brands’s dividend payout ratio is currently 108.60%.

Analysts Set New Price Targets

A number of research firms recently issued reports on STZ. JPMorgan Chase & Co. restated a “neutral” rating and set a $203.00 target price (down from $262.00) on shares of Constellation Brands in a research report on Monday, January 13th. Evercore ISI decreased their price objective on Constellation Brands from $300.00 to $250.00 and set an “outperform” rating for the company in a report on Monday, January 13th. Piper Sandler downgraded Constellation Brands from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $245.00 to $200.00 in a research note on Monday, February 3rd. Morgan Stanley cut Constellation Brands from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $220.00 to $202.00 in a research report on Thursday. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $293.00 price objective on shares of Constellation Brands in a research report on Monday, February 3rd. One analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, Constellation Brands has a consensus rating of “Hold” and a consensus target price of $253.43.

Insider Activity

In related news, Director William T. Giles acquired 1,000 shares of the stock in a transaction on Friday, January 17th. The shares were bought at an average price of $186.39 per share, with a total value of $186,390.00. Following the completion of the purchase, the director now owns 1,463 shares of the company’s stock, valued at approximately $272,688.57. This represents a 215.98 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 12.19% of the company’s stock.

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.