Constellation Brands, Inc. (NYSE:STZ) Shares Acquired by WealthBridge Investment Counsel Inc.

WealthBridge Investment Counsel Inc. lifted its position in Constellation Brands, Inc. (NYSE:STZ) by 0.4% during the 1st quarter, Holdings Channel.com reports. The fund owned 26,200 shares of the company’s stock after acquiring an additional 105 shares during the period. Constellation Brands accounts for 2.6% of WealthBridge Investment Counsel Inc.’s investment portfolio, making the stock its 18th biggest holding. WealthBridge Investment Counsel Inc.’s holdings in Constellation Brands were worth $7,120,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BKM Wealth Management LLC acquired a new stake in Constellation Brands during the 4th quarter worth about $28,000. Kapitalo Investimentos Ltda acquired a new stake in Constellation Brands during the fourth quarter worth about $35,000. First Financial Corp IN purchased a new position in Constellation Brands during the first quarter valued at approximately $35,000. Turtle Creek Wealth Advisors LLC acquired a new position in Constellation Brands in the fourth quarter valued at approximately $37,000. Finally, Exchange Traded Concepts LLC purchased a new stake in Constellation Brands in the 4th quarter worth approximately $45,000. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Constellation Brands Price Performance

STZ stock traded down $8.57 during mid-day trading on Thursday, reaching $250.37. The company’s stock had a trading volume of 2,670,323 shares, compared to its average volume of 1,100,250. 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 $254.99 and its two-hundred day moving average is $254.00. Constellation Brands, Inc. has a fifty-two week low of $227.50 and a fifty-two week high of $274.87. The stock has a market cap of $45.81 billion, a PE ratio of 26.69, a P/E/G ratio of 1.72 and a beta of 0.87.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings results on Wednesday, July 3rd. The company reported $3.57 EPS for the quarter, beating the consensus estimate of $3.46 by $0.11. The firm had revenue of $2.66 billion during the quarter, compared to analysts’ expectations of $2.67 billion. Constellation Brands had a return on equity of 23.06% and a net margin of 16.13%. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter last year, the firm earned $2.91 earnings per share. Equities research analysts expect that Constellation Brands, Inc. will post 13.67 EPS for the current year.

Constellation Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Wednesday, August 14th will be issued a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.61%. Constellation Brands’s dividend payout ratio is currently 43.07%.

Insider Buying and Selling

In other news, CEO William A. Newlands sold 25,000 shares of the stock in a transaction that occurred on 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 approximately $3,844,638. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, EVP James A. Jr. Sabia sold 15,781 shares of the stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $263.63, for a total transaction of $4,160,345.03. Following the transaction, 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 filing with the SEC, which is available through this hyperlink. Also, CEO William A. Newlands sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $261.54, for a total transaction of $6,538,500.00. Following the completion of the transaction, the chief executive officer now directly owns 14,700 shares of the company’s stock, valued at approximately $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. Insiders own 12.19% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Roth Mkm reaffirmed a “buy” rating and set a $305.00 target price on shares of Constellation Brands in a report on Friday, April 12th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Constellation Brands from $256.00 to $262.00 and gave the company a “hold” rating in a report on Wednesday, April 10th. HSBC raised their target price on Constellation Brands from $290.00 to $300.00 and gave the company a “buy” rating in a research report on Friday, April 12th. JPMorgan Chase & Co. reduced their price target on Constellation Brands from $296.00 to $291.00 and set an “overweight” rating for the company in a report on Thursday, June 20th. Finally, BMO Capital Markets raised their price objective on 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 seventeen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $298.63.

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.