Cary Street Partners Investment Advisory LLC Acquires 984 Shares of Constellation Brands, Inc. (NYSE:STZ)

Cary Street Partners Investment Advisory LLC lifted its holdings in Constellation Brands, Inc. (NYSE:STZFree Report) by 139.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,692 shares of the company’s stock after buying an additional 984 shares during the quarter. Cary Street Partners Investment Advisory LLC’s holdings in Constellation Brands were worth $409,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. BKM Wealth Management LLC bought a new position in shares of Constellation Brands in the fourth quarter worth about $28,000. Asset Dedication LLC lifted its holdings in Constellation Brands by 3,833.3% during the 3rd quarter. Asset Dedication LLC now owns 118 shares of the company’s stock worth $30,000 after buying an additional 115 shares in the last quarter. Turtle Creek Wealth Advisors LLC acquired a new position in Constellation Brands during the 4th quarter worth $37,000. Annis Gardner Whiting Capital Advisors LLC bought a new position in Constellation Brands in the 3rd quarter valued at $41,000. Finally, Exchange Traded Concepts LLC acquired a new stake in shares of Constellation Brands in the 4th quarter valued at $45,000. Institutional investors and hedge funds own 77.34% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on STZ. Royal Bank of Canada boosted their price objective on Constellation Brands from $295.00 to $308.00 and gave the stock an “outperform” rating in a report on Friday, April 12th. Jefferies Financial Group boosted their target price on Constellation Brands from $292.00 to $314.00 and gave the company a “buy” rating in a research note on Friday, April 12th. HSBC increased their price objective on shares of Constellation Brands from $290.00 to $300.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Piper Sandler started coverage on Constellation Brands in a research report on Friday, March 22nd. They issued an “overweight” rating and a $300.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Constellation Brands from $256.00 to $262.00 and gave the stock a “hold” rating in a research report on Wednesday, April 10th. Three research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $298.55.

Read Our Latest Report on Constellation Brands

Insider Buying and Selling at Constellation Brands

In other news, CEO William A. Newlands sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $261.54, for a total transaction of $6,538,500.00. Following the completion of the sale, the chief executive officer now owns 14,700 shares in the company, valued at $3,844,638. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CEO William A. Newlands sold 25,000 shares of Constellation Brands stock in a transaction on Friday, May 10th. The stock was sold at an average price of $261.54, for a total transaction of $6,538,500.00. Following the completion of the sale, the chief executive officer now owns 14,700 shares of the company’s stock, valued at $3,844,638. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William A. Newlands sold 4,013 shares of the firm’s stock in a transaction dated Friday, April 19th. The stock was sold at an average price of $263.25, for a total transaction of $1,056,422.25. Following the transaction, the chief executive officer now directly owns 5,395 shares in the company, valued at $1,420,233.75. The disclosure for this sale can be found here. Insiders have sold a total of 48,031 shares of company stock valued at $12,582,321 in the last three months. 16.19% of the stock is currently owned by company insiders.

Constellation Brands Price Performance

NYSE:STZ opened at $253.99 on Wednesday. Constellation Brands, Inc. has a 12-month low of $225.46 and a 12-month high of $274.87. The firm has a market capitalization of $46.48 billion, a price-to-earnings ratio of 27.08, a P/E/G ratio of 1.77 and a beta of 0.95. The stock’s 50 day moving average price is $262.19 and its two-hundred day moving average price is $250.00. The company has a quick ratio of 0.53, a current ratio of 1.19 and a debt-to-equity ratio of 1.06.

Constellation Brands (NYSE:STZGet Free Report) last posted its quarterly earnings results on Thursday, April 11th. The company reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates of $2.10 by $0.16. Constellation Brands had a return on equity of 23.06% and a net margin of 16.13%. The business had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.09 billion. During the same quarter in the prior year, the business earned $1.98 EPS. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. On average, analysts anticipate that Constellation Brands, Inc. will post 13.51 earnings per share for the current year.

Constellation Brands Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Friday, May 3rd will be paid a $1.01 dividend. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $4.04 dividend on an annualized basis and a yield of 1.59%. This is a positive change from Constellation Brands’s previous quarterly dividend of $0.89. Constellation Brands’s dividend payout ratio is 43.07%.

About Constellation Brands

(Free Report)

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.

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Institutional Ownership by Quarter for Constellation Brands (NYSE:STZ)

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