Eads & Heald Wealth Management Lowers Stake in Constellation Brands, Inc. (NYSE:STZ)

Eads & Heald Wealth Management cut its holdings in Constellation Brands, Inc. (NYSE:STZ) by 2.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,594 shares of the company’s stock after selling 96 shares during the quarter. Eads & Heald Wealth Management’s holdings in Constellation Brands were worth $1,015,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in STZ. State Street Corp increased its position in Constellation Brands by 6.0% in the 3rd quarter. State Street Corp now owns 7,144,428 shares of the company’s stock valued at $1,841,048,000 after acquiring an additional 402,211 shares during the period. Janus Henderson Group PLC increased its holdings in shares of Constellation Brands by 1.2% in the third quarter. Janus Henderson Group PLC now owns 1,853,081 shares of the company’s stock valued at $477,515,000 after purchasing an additional 21,454 shares during the period. Legal & General Group Plc raised its stake in shares of Constellation Brands by 5.7% during the second quarter. Legal & General Group Plc now owns 1,335,976 shares of the company’s stock worth $343,717,000 after purchasing an additional 72,637 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Constellation Brands by 23,184.7% during the third 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. Finally, National Pension Service grew its position in Constellation Brands by 13.6% in the 3rd quarter. National Pension Service now owns 381,755 shares of the company’s stock valued at $98,374,000 after buying an additional 45,707 shares during the last quarter. 77.34% of the stock is owned by hedge funds and other institutional investors.

Constellation Brands Trading Down 0.7 %

Shares of STZ opened at $182.99 on Wednesday. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.10 and a quick ratio of 0.46. Constellation Brands, Inc. has a 12 month low of $176.51 and a 12 month high of $274.87. The stock has a market cap of $33.07 billion, a PE ratio of 49.19, a P/E/G ratio of 1.62 and a beta of 0.91. The stock’s 50-day moving average is $225.70 and its two-hundred day moving average is $238.27.

Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Friday, January 10th. The company reported $3.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.33 by ($0.08). Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The firm had revenue of $2.46 billion for the quarter, compared to analysts’ expectations of $2.53 billion. During the same period last year, the firm earned $3.19 EPS. The business’s quarterly revenue was down .3% on a year-over-year basis. Equities analysts forecast that Constellation Brands, Inc. will post 13.52 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Friday, February 7th will be given a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date is Friday, February 7th. Constellation Brands’s payout ratio is currently 108.60%.

Insider Buying and Selling

In related news, EVP James A. Jr. Sabia sold 36,086 shares of Constellation Brands stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $242.99, for a total value of $8,768,537.14. Following the completion of the transaction, the executive vice president now directly owns 16,042 shares in the company, valued at approximately $3,898,045.58. This trade represents a 69.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director William T. Giles acquired 1,000 shares of the business’s stock in a transaction on Friday, January 17th. The shares were purchased at an average price of $186.39 per share, for a total transaction of $186,390.00. Following the purchase, the director now directly owns 1,463 shares of the company’s stock, valued at $272,688.57. This represents a 215.98 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 69,172 shares of company stock worth $16,778,841. Insiders own 12.19% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on STZ. Royal Bank of Canada restated an “outperform” rating and set a $308.00 price objective on shares of Constellation Brands in a research report on Tuesday, January 7th. Evercore ISI reduced their price objective on shares of Constellation Brands from $300.00 to $250.00 and set an “outperform” rating for the company in a research report on Monday, January 13th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $201.00 price objective (down previously from $310.00) on shares of Constellation Brands in a report on Monday, January 13th. Piper Sandler cut their target price on Constellation Brands from $300.00 to $245.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. Finally, Roth Capital decreased their price target on Constellation Brands from $298.00 to $284.00 and set a “buy” rating on the stock in a research note on Friday, January 17th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, Constellation Brands has a consensus rating of “Moderate Buy” and an average target price of $259.05.

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.