Balboa Wealth Partners Invests $253,000 in Constellation Brands, Inc. (NYSE:STZ)

Balboa Wealth Partners bought a new stake in Constellation Brands, Inc. (NYSE:STZ) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 984 shares of the company’s stock, valued at approximately $253,000.

Other large investors have also recently made changes to their positions in the company. Orion Portfolio Solutions LLC grew its position in shares of Constellation Brands by 1.1% during the first quarter. Orion Portfolio Solutions LLC now owns 3,676 shares of the company’s stock worth $999,000 after acquiring an additional 39 shares during the last quarter. Nwam LLC purchased a new position in Constellation Brands during the 1st quarter worth $201,000. First Foundation Advisors increased its stake in Constellation Brands by 51.9% in the first quarter. First Foundation Advisors now owns 943 shares of the company’s stock valued at $256,000 after purchasing an additional 322 shares during the period. Clearstead Trust LLC increased its stake in Constellation Brands by 873.7% in the first quarter. Clearstead Trust LLC now owns 185 shares of the company’s stock valued at $50,000 after purchasing an additional 166 shares during the period. Finally, Vanguard Group Inc. raised its holdings in shares of Constellation Brands by 3.5% in the first 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 during the last quarter. 77.34% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Constellation Brands news, EVP Samuel J. Glaetzer sold 1,510 shares of Constellation Brands stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $245.57, for a total value of $370,810.70. Following the completion of the sale, the executive vice president now owns 4,970 shares in the company, valued at $1,220,482.90. The trade was a 23.30 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robert Sands sold 119,274 shares of the stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $242.37, for a total transaction of $28,908,439.38. Following the transaction, the director now owns 431,729 shares in the company, valued at approximately $104,638,157.73. The trade was a 21.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 189,296 shares of company stock worth $45,899,031. 12.19% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on STZ. Morgan Stanley lowered their price target on Constellation Brands from $305.00 to $280.00 and set an “overweight” rating on the stock in a report on Monday, August 26th. Truist Financial lowered their target price on Constellation Brands from $265.00 to $255.00 and set a “hold” rating on the stock in a research note on Friday, October 4th. UBS Group cut their price target on Constellation Brands from $320.00 to $295.00 and set a “buy” rating for the company in a research note on Monday, September 9th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $308.00 price target on shares of Constellation Brands in a report on Friday, October 4th. Finally, Barclays dropped their price objective on shares of Constellation Brands from $309.00 to $300.00 and set an “overweight” rating on the stock in a research note on Monday, October 7th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $290.47.

Constellation Brands Stock Performance

Shares of STZ opened at $237.51 on Friday. The company has a 50-day moving average of $244.36 and a two-hundred day moving average of $248.25. The stock has a market cap of $43.12 billion, a P/E ratio of 76.86, a PEG ratio of 1.70 and a beta of 0.90. Constellation Brands, Inc. has a 12-month low of $224.76 and a 12-month high of $274.87. The company has a current ratio of 1.25, a quick ratio of 0.53 and a debt-to-equity ratio of 1.31.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings data on Thursday, October 3rd. The company reported $4.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.08 by $0.24. The firm had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.95 billion. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The company’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.70 EPS. As a group, research analysts predict that Constellation Brands, Inc. will post 13.57 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Tuesday, November 5th will be paid a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date is Tuesday, November 5th. Constellation Brands’s payout ratio is currently 130.74%.

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.