Prentice Wealth Management LLC Increases Stake in Constellation Brands, Inc. (NYSE:STZ)

Prentice Wealth Management LLC boosted its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 4.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 3,600 shares of the company’s stock after purchasing an additional 139 shares during the quarter. Prentice Wealth Management LLC’s holdings in Constellation Brands were worth $978,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of STZ. Perigon Wealth Management LLC boosted its holdings in shares of Constellation Brands by 46.0% during the 4th quarter. Perigon Wealth Management LLC now owns 6,012 shares of the company’s stock valued at $1,453,000 after acquiring an additional 1,893 shares during the last quarter. Stifel Financial Corp lifted its stake in shares of Constellation Brands by 3.2% in the 4th quarter. Stifel Financial Corp now owns 192,585 shares of the company’s stock worth $46,570,000 after purchasing an additional 5,951 shares during the period. CoreCap Advisors LLC lifted its stake in shares of Constellation Brands by 35.8% in the 4th quarter. CoreCap Advisors LLC now owns 2,002 shares of the company’s stock worth $484,000 after purchasing an additional 528 shares during the period. Ascent Wealth Partners LLC bought a new position in shares of Constellation Brands in the 4th quarter worth approximately $962,000. Finally, KBC Group NV raised its stake in Constellation Brands by 100.4% during the 4th quarter. KBC Group NV now owns 250,945 shares of the company’s stock worth $60,666,000 after acquiring an additional 125,730 shares during the period. 77.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on STZ. 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 research note on Friday, April 12th. Wedbush restated an “outperform” rating and set a $300.00 target price on shares of Constellation Brands in a research note on Wednesday, April 10th. UBS Group decreased their target price on shares of Constellation Brands from $320.00 to $315.00 and set a “buy” rating on the stock in a research note on Thursday, June 20th. Barclays reduced their price objective on shares of Constellation Brands from $295.00 to $288.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 29th. Finally, Bank of America lifted their price objective on shares of Constellation Brands from $290.00 to $300.00 and gave the company a “buy” rating in a research report on Monday, March 18th. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, Constellation Brands has a consensus rating of “Moderate Buy” and an average price target of $298.37.

Constellation Brands Trading Down 0.3 %

NYSE STZ traded down $0.82 on Wednesday, hitting $260.86. 390,973 shares of the stock were exchanged, compared to its average volume of 1,184,122. 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 stock has a fifty day moving average price of $255.39 and a two-hundred day moving average price of $253.33. The firm has a market capitalization of $47.73 billion, a P/E ratio of 27.92, a P/E/G ratio of 1.74 and a beta of 0.89. Constellation Brands, Inc. has a 52-week low of $227.50 and a 52-week high of $274.87.

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. Constellation Brands had a return on equity of 23.06% and a net margin of 16.13%. The business had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.09 billion. During the same period last year, the company earned $1.98 earnings per share. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. Research analysts forecast that Constellation Brands, Inc. will post 13.67 EPS for the current fiscal year.

Constellation Brands Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 17th. Stockholders of record on Friday, May 3rd were given a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a dividend yield of 1.55%. This is an increase from Constellation Brands’s previous quarterly dividend of $0.89. The ex-dividend date was Thursday, May 2nd. Constellation Brands’s dividend payout ratio (DPR) is 43.07%.

Insider Transactions at Constellation Brands

In other news, CEO William A. Newlands sold 25,000 shares of Constellation Brands stock in a transaction on Friday, May 10th. The stock was sold at an average price of $261.54, for a total transaction of $6,538,500.00. Following the completion of the sale, the chief executive officer now directly owns 14,700 shares in the company, valued at $3,844,638. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, EVP Michael Mcgrew sold 3,237 shares of Constellation Brands stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $255.50, for a total value of $827,053.50. Following the completion of the sale, the executive vice president now directly owns 1,731 shares in the company, valued at $442,270.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William A. Newlands sold 25,000 shares of Constellation Brands stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $261.54, for a total value of $6,538,500.00. Following the completion of the sale, the chief executive officer now owns 14,700 shares of the company’s stock, valued at $3,844,638. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 48,031 shares of company stock worth $12,582,321. 12.19% of the stock is currently owned by insiders.

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.