Connecticut Wealth Management LLC Invests $214,000 in Constellation Brands, Inc. (NYSE:STZ)

Connecticut Wealth Management LLC purchased a new stake in Constellation Brands, Inc. (NYSE:STZ) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 885 shares of the company’s stock, valued at approximately $214,000.

Other institutional investors also recently modified their holdings of the company. BKM Wealth Management LLC bought a new stake in Constellation Brands during the 4th quarter worth approximately $28,000. Asset Dedication LLC boosted its stake in Constellation Brands by 3,833.3% during the third quarter. Asset Dedication LLC now owns 118 shares of the company’s stock valued at $30,000 after buying an additional 115 shares during the period. Turtle Creek Wealth Advisors LLC purchased a new position in Constellation Brands during the fourth quarter worth about $37,000. Annis Gardner Whiting Capital Advisors LLC bought a new position in Constellation Brands in the 3rd quarter worth about $41,000. Finally, Exchange Traded Concepts LLC bought a new position in Constellation Brands in the 4th quarter worth about $45,000. 77.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Constellation Brands

In other news, EVP James A. Jr. Sabia sold 15,781 shares of the stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $263.63, for a total value of $4,160,345.03. Following the completion of the transaction, the executive vice president now owns 20,910 shares of the company’s stock, valued at approximately $5,512,503.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP James A. Jr. Sabia sold 15,781 shares of the company’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $263.63, for a total value of $4,160,345.03. Following the sale, the executive vice president now directly 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 Securities & Exchange Commission, which can be accessed through this link. Also, CEO William A. Newlands sold 4,013 shares of Constellation Brands stock in a transaction dated Friday, April 19th. The shares were sold at an average price of $263.25, for a total transaction of $1,056,422.25. Following the transaction, the chief executive officer now directly owns 5,395 shares of the company’s stock, valued at $1,420,233.75. The disclosure for this sale can be found here. 16.19% of the stock is owned by corporate insiders.

Constellation Brands Trading Up 0.2 %

Shares of NYSE STZ traded up $0.51 during trading hours on Monday, hitting $256.59. The company’s stock had a trading volume of 319,954 shares, compared to its average volume of 1,226,559. Constellation Brands, Inc. has a 12 month low of $222.45 and a 12 month high of $274.87. The stock has a market cap of $46.95 billion, a price-to-earnings ratio of 27.30, a P/E/G ratio of 1.73 and a beta of 0.95. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.53 and a current ratio of 1.19. The business has a 50-day simple moving average of $260.83 and a 200-day simple moving average of $248.87.

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

Constellation Brands Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Friday, May 3rd will be paid a dividend of $1.01 per share. This is a positive change from Constellation Brands’s previous quarterly dividend of $0.89. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.57%. Constellation Brands’s payout ratio is presently 43.07%.

Analysts Set New Price Targets

Several research analysts have recently commented on STZ shares. UBS Group boosted their price objective on Constellation Brands from $312.00 to $320.00 and gave the stock a “buy” rating in a report on Friday, April 12th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Constellation Brands from $256.00 to $262.00 and gave the stock a “hold” rating in a report on Wednesday, April 10th. Royal Bank of Canada lifted their price objective 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. HSBC increased their target price on Constellation Brands from $290.00 to $300.00 and gave the company a “buy” rating in a research note on Friday, April 12th. Finally, Barclays raised their price target on Constellation Brands from $294.00 to $295.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Three equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $298.55.

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.