Smith Salley Wealth Management Raises Stock Holdings in Constellation Brands, Inc. (NYSE:STZ)

Smith Salley Wealth Management boosted its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 1.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 71,277 shares of the company’s stock after buying an additional 1,270 shares during the quarter. Smith Salley Wealth Management’s holdings in Constellation Brands were worth $15,752,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in STZ. International Assets Investment Management LLC boosted its position in shares of Constellation Brands by 23,184.7% during the 3rd quarter. International Assets Investment Management LLC now owns 499,689 shares of the company’s stock worth $128,765,000 after purchasing an additional 497,543 shares during the period. State Street Corp lifted its stake in Constellation Brands by 6.0% during the third quarter. State Street Corp now owns 7,144,428 shares of the company’s stock worth $1,841,048,000 after purchasing an additional 402,211 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of Constellation Brands by 66.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 369,966 shares of the company’s stock worth $81,762,000 after buying an additional 147,457 shares during the period. NFJ Investment Group LLC grew its stake in shares of Constellation Brands by 617.3% in the third quarter. NFJ Investment Group LLC now owns 108,382 shares of the company’s stock valued at $27,929,000 after buying an additional 93,273 shares in the last quarter. Finally, World Investment Advisors LLC raised its holdings in shares of Constellation Brands by 4,601.2% in the 3rd quarter. World Investment Advisors LLC now owns 87,771 shares of the company’s stock valued at $22,618,000 after buying an additional 85,904 shares during the period. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Constellation Brands Trading Down 0.3 %

NYSE:STZ opened at $184.05 on Friday. The company has a market capitalization of $33.42 billion, a PE ratio of 49.48, a P/E/G ratio of 1.28 and a beta of 0.91. Constellation Brands, Inc. has a 52-week low of $176.51 and a 52-week high of $274.87. The stock’s 50 day moving average price is $226.75 and its 200 day moving average price is $238.96. The company has a quick ratio of 0.53, a current ratio of 1.25 and a debt-to-equity ratio of 1.31.

Constellation Brands (NYSE:STZ) last announced its earnings results on Friday, January 10th. The company reported $3.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.08). Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The business had revenue of $2.46 billion for the quarter, compared to analysts’ expectations of $2.53 billion. During the same quarter last year, the business posted $3.19 earnings per share. The business’s revenue was down .3% on a year-over-year basis. On average, research analysts anticipate that Constellation Brands, Inc. will post 13.72 EPS for the current year.

Constellation Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Friday, February 7th will be issued a $1.01 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 2.20%. Constellation Brands’s payout ratio is 108.60%.

Analysts Set New Price Targets

STZ has been the subject of a number of research analyst reports. BNP Paribas began coverage on Constellation Brands in a report on Monday, November 25th. They set a “neutral” rating and a $261.00 target price for the company. Bank of America restated a “neutral” rating and issued a $255.00 price objective (down previously from $300.00) on shares of Constellation Brands in a report on Monday, October 7th. Barclays reduced their target price on shares of Constellation Brands from $282.00 to $214.00 and set an “overweight” rating on the stock in a report on Tuesday, January 14th. TD Cowen dropped their price target on shares of Constellation Brands from $270.00 to $260.00 and set a “hold” rating for the company in a research note on Wednesday, January 8th. Finally, Evercore ISI reduced their price objective on Constellation Brands from $300.00 to $250.00 and set an “outperform” rating on the stock in a research note on Monday, January 13th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, Constellation Brands has a consensus rating of “Moderate Buy” and a consensus target price of $259.05.

Insider Transactions at Constellation Brands

In other news, CEO William A. Newlands sold 7,426 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $237.24, for a total transaction of $1,761,744.24. Following the completion of the sale, the chief executive officer now owns 7,274 shares in the company, valued at $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 Securities & Exchange Commission, which is available through this link. Also, major shareholder Wildstar Partners Llc sold 660 shares of Constellation Brands stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $241.00, for a total transaction of $159,060.00. Following the completion of the transaction, the insider now owns 1,736,884 shares in the company, valued at approximately $418,589,044. This trade represents a 0.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 69,172 shares of company stock worth $16,778,841. Company insiders own 12.19% of the company’s stock.

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.