B. Riley Wealth Advisors Inc. Purchases 974 Shares of Constellation Brands, Inc. (NYSE:STZ)

B. Riley Wealth Advisors Inc. raised its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 12.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,105 shares of the company’s stock after buying an additional 974 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Constellation Brands were worth $2,288,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in Constellation Brands by 3.5% during the 1st quarter. Vanguard Group Inc. now owns 13,705,793 shares of the company’s stock valued at $3,724,686,000 after buying an additional 462,891 shares in the last quarter. Capital International Investors grew its holdings in shares of Constellation Brands by 39.4% in the first quarter. Capital International Investors now owns 11,685,249 shares of the company’s stock valued at $3,175,583,000 after purchasing an additional 3,304,709 shares in the last quarter. Capital World Investors grew its holdings in shares of Constellation Brands by 8.7% in the first quarter. Capital World Investors now owns 9,040,669 shares of the company’s stock valued at $2,456,892,000 after purchasing an additional 723,549 shares in the last quarter. Capital Research Global Investors grew its holdings in shares of Constellation Brands by 9.9% in the first quarter. Capital Research Global Investors now owns 2,469,997 shares of the company’s stock valued at $671,246,000 after purchasing an additional 222,380 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Constellation Brands in the fourth quarter valued at $443,844,000. 77.34% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on STZ shares. Jefferies Financial Group raised their target price on shares of Constellation Brands from $310.00 to $311.00 and gave the company a “buy” rating in a report on Friday, July 5th. JPMorgan Chase & Co. raised their price target on Constellation Brands from $291.00 to $320.00 and gave the stock an “overweight” rating in a research report on Friday, July 5th. Deutsche Bank Aktiengesellschaft lifted their target price on Constellation Brands from $256.00 to $262.00 and gave the stock a “hold” rating in a research report on Wednesday, April 10th. Evercore ISI lifted their price objective on Constellation Brands from $300.00 to $310.00 and gave the company an “outperform” rating in a report on Friday, April 12th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $308.00 price objective on shares of Constellation Brands in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $300.28.

Insiders Place Their Bets

In other Constellation Brands news, Director Daniel J. Mccarthy sold 1,854 shares of the business’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $252.43, for a total transaction of $468,005.22. Following the sale, the director now directly owns 3,232 shares in the company, valued at $815,853.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO William A. Newlands sold 25,000 shares of the company’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $261.54, for a total value of $6,538,500.00. Following the completion of the transaction, the chief executive officer now directly owns 14,700 shares in the company, valued at $3,844,638. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Daniel J. Mccarthy sold 1,854 shares of the company’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $252.43, for a total value of $468,005.22. Following the completion of the transaction, the director now owns 3,232 shares of the company’s stock, valued at $815,853.76. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 31,068 shares of company stock worth $8,088,556. 12.19% of the stock is owned by corporate insiders.

Constellation Brands Price Performance

Shares of NYSE:STZ traded up $1.86 during midday trading on Wednesday, reaching $245.16. 1,098,442 shares of the company’s stock traded hands, compared to its average volume of 1,207,065. The company has a fifty day simple moving average of $252.62 and a two-hundred day simple moving average of $254.91. 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 company has a market cap of $44.67 billion, a P/E ratio of 18.30, a PEG ratio of 1.62 and a beta of 0.87. Constellation Brands, Inc. has a 1 year low of $227.50 and a 1 year high of $274.87.

Constellation Brands (NYSE:STZ) last announced its earnings results on Wednesday, July 3rd. The company reported $3.57 EPS for the quarter, beating analysts’ consensus estimates of $3.46 by $0.11. The company 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 23.72% and a net margin of 22.70%. Constellation Brands’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period last year, the business posted $2.91 EPS. Equities analysts predict that Constellation Brands, Inc. will post 13.57 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The firm 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 dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date is Wednesday, August 14th. Constellation Brands’s dividend payout ratio is presently 30.10%.

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.