Aviance Capital Partners LLC Buys 221 Shares of Constellation Brands, Inc. (NYSE:STZ)

Aviance Capital Partners LLC boosted its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 1.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,834 shares of the company’s stock after acquiring an additional 221 shares during the period. Aviance Capital Partners LLC’s holdings in Constellation Brands were worth $4,338,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. New Millennium Group LLC acquired a new stake in Constellation Brands during the second quarter worth $25,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Constellation Brands during the second quarter valued at approximately $29,000. Horizon Bancorp Inc. IN bought a new stake in Constellation Brands in the second quarter valued at about $32,000. Opal Wealth Advisors LLC acquired a new stake in shares of Constellation Brands in the 2nd quarter valued at approximately $36,000. Finally, Ashton Thomas Private Wealth LLC acquired a new position in shares of Constellation Brands in the 2nd quarter valued at $36,000. Institutional investors own 77.34% of the company’s stock.

Insider Activity

In other news, CEO William A. Newlands sold 7,426 shares of the company’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $237.24, for a total value of $1,761,744.24. Following the transaction, the chief executive officer now owns 7,274 shares of the company’s stock, valued at approximately $1,725,683.76. This represents a 50.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Samuel J. Glaetzer sold 1,510 shares of the firm’s stock in a transaction dated Monday, October 14th. The shares were 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 directly owns 4,970 shares in the company, valued at approximately $1,220,482.90. The trade was a 23.30 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 189,296 shares of company stock worth $45,899,031. 12.19% of the stock is owned by corporate insiders.

Constellation Brands Price Performance

Constellation Brands stock opened at $238.06 on Tuesday. The business’s 50 day simple moving average is $243.88 and its 200 day simple moving average is $247.90. Constellation Brands, Inc. has a 12 month low of $224.76 and a 12 month high of $274.87. The company has a market cap of $43.22 billion, a price-to-earnings ratio of 77.04, a PEG ratio of 1.68 and a beta of 0.90. 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 announced its quarterly earnings data on Thursday, October 3rd. The company reported $4.32 earnings per share for the quarter, topping the consensus estimate of $4.08 by $0.24. The company had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.95 billion. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter last year, the firm posted $3.70 EPS. Sell-side analysts forecast that Constellation Brands, Inc. will post 13.57 EPS for the current year.

Constellation Brands Dividend Announcement

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

Analysts Set New Price Targets

STZ has been the topic of several recent analyst reports. Barclays cut their price objective on Constellation Brands from $309.00 to $300.00 and set an “overweight” rating on the stock in a report on Monday, October 7th. Morgan Stanley cut their price target on shares of Constellation Brands from $305.00 to $280.00 and set an “overweight” rating on the stock in a research note on Monday, August 26th. Roth Mkm reissued a “buy” rating and set a $298.00 price objective on shares of Constellation Brands in a research report on Friday, October 4th. Truist Financial dropped their price objective on shares of Constellation Brands from $265.00 to $255.00 and set a “hold” rating on the stock in a report on Friday, October 4th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $308.00 target price on shares of Constellation Brands in a research note on Friday, October 4th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, Constellation Brands has a consensus rating of “Moderate Buy” and an average price target of $290.47.

Constellation Brands Company 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.