Wealth Alliance Sells 131 Shares of Constellation Brands, Inc. (NYSE:STZ)

Wealth Alliance decreased its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 6.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,006 shares of the company’s stock after selling 131 shares during the period. Wealth Alliance’s holdings in Constellation Brands were worth $485,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Impact Partnership Wealth LLC raised its position in Constellation Brands by 1,175.0% in the third quarter. Impact Partnership Wealth LLC now owns 102 shares of the company’s stock worth $26,000 after acquiring an additional 94 shares during the period. BKM Wealth Management LLC bought a new position in Constellation Brands in the fourth quarter worth approximately $28,000. Asset Dedication LLC raised its position in shares of Constellation Brands by 3,833.3% during the 3rd quarter. Asset Dedication LLC now owns 118 shares of the company’s stock valued at $30,000 after purchasing an additional 115 shares during the period. Resurgent Financial Advisors LLC purchased a new position in Constellation Brands during the fourth quarter valued at $34,000. Finally, Turtle Creek Wealth Advisors LLC bought a new stake in shares of Constellation Brands in the 4th quarter worth about $37,000. Institutional investors own 77.34% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Jefferies Financial Group raised their target price on shares of Constellation Brands from $292.00 to $314.00 and gave the stock a “buy” rating in a report on Friday, April 12th. Wedbush restated an “outperform” rating and issued a $300.00 target price on shares of Constellation Brands in a report on Wednesday, April 10th. JPMorgan Chase & Co. lowered their target price on shares of Constellation Brands from $309.00 to $301.00 and set an “overweight” rating for the company in a report on Thursday, December 21st. Evercore ISI raised their target price on shares of Constellation Brands from $300.00 to $310.00 and gave the stock an “outperform” rating in a report on Friday, April 12th. Finally, BMO Capital Markets lifted their price objective on shares of Constellation Brands from $290.00 to $315.00 and gave the company an “outperform” rating in a report on Friday, April 12th. Three equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, Constellation Brands has a consensus rating of “Moderate Buy” and a consensus target price of $298.55.

Constellation Brands Stock Down 0.2 %

NYSE:STZ opened at $257.31 on Thursday. The company has a market cap of $47.04 billion, a PE ratio of 27.43, a P/E/G ratio of 1.74 and a beta of 0.97. Constellation Brands, Inc. has a twelve month low of $221.81 and a twelve month 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 company’s 50 day moving average is $257.51 and its two-hundred day moving average is $247.13.

Constellation Brands (NYSE:STZ) last released its earnings results on Thursday, April 11th. The company reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.10 by $0.16. The company had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.09 billion. Constellation Brands had a net margin of 16.13% and a return on equity of 23.06%. Constellation Brands’s revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.98 EPS. Analysts anticipate that Constellation Brands, Inc. will post 13.51 EPS for the current year.

Constellation Brands Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Friday, May 3rd will be given a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 1.57%. The ex-dividend date of this dividend is Thursday, May 2nd. This is an increase from Constellation Brands’s previous quarterly dividend of $0.89. Constellation Brands’s payout ratio is currently 37.95%.

Insiders Place Their Bets

In other Constellation Brands news, EVP James A. Jr. Sabia sold 15,781 shares of the business’s stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $263.63, for a total transaction of $4,160,345.03. Following the sale, the executive vice president now owns 20,910 shares of the company’s stock, valued at approximately $5,512,503.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 16.19% of the stock is owned by insiders.

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 Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Victoria, Vicky Chamoy, and Pacifico brands.