Constellation Brands, Inc. (NYSE:STZ) Shares Bought by Wedmont Private Capital

Wedmont Private Capital lifted its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 15.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,359 shares of the company’s stock after buying an additional 179 shares during the quarter. Wedmont Private Capital’s holdings in Constellation Brands were worth $357,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Perigon Wealth Management LLC raised its stake in shares of Constellation Brands by 46.0% during the 4th quarter. Perigon Wealth Management LLC now owns 6,012 shares of the company’s stock worth $1,453,000 after buying an additional 1,893 shares during the period. Stifel Financial Corp increased its position in shares of Constellation Brands by 3.2% during the fourth quarter. Stifel Financial Corp now owns 192,585 shares of the company’s stock worth $46,570,000 after purchasing an additional 5,951 shares in the last quarter. CoreCap Advisors LLC increased its position in shares of Constellation Brands by 35.8% during the fourth quarter. CoreCap Advisors LLC now owns 2,002 shares of the company’s stock worth $484,000 after purchasing an additional 528 shares in the last quarter. Ascent Wealth Partners LLC purchased a new stake in shares of Constellation Brands during the fourth quarter worth approximately $962,000. Finally, KBC Group NV increased its position in shares of Constellation Brands by 100.4% during the fourth quarter. KBC Group NV now owns 250,945 shares of the company’s stock worth $60,666,000 after purchasing an additional 125,730 shares in the last quarter. 77.34% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Constellation Brands

In other Constellation Brands news, CEO William A. Newlands sold 4,013 shares of the business’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 completion of the sale, the chief executive officer now owns 5,395 shares of the company’s stock, valued at $1,420,233.75. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Constellation Brands news, CEO William A. Newlands sold 25,000 shares of the company’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 sale, the chief executive officer now owns 14,700 shares in the company, valued at $3,844,638. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO William A. Newlands sold 4,013 shares of the company’s stock in a transaction that occurred on Friday, April 19th. The shares were sold at an average price of $263.25, for a total value of $1,056,422.25. Following the sale, the chief executive officer now owns 5,395 shares in the company, valued at approximately $1,420,233.75. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 48,031 shares of company stock valued at $12,582,321. Company insiders own 12.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on STZ. Barclays dropped their price target on Constellation Brands from $295.00 to $288.00 and set an “overweight” rating for the company in a research report on Wednesday, May 29th. Bank of America upped their target price on Constellation Brands from $290.00 to $300.00 and gave the company a “buy” rating in a report on Monday, March 18th. JPMorgan Chase & Co. dropped their target price on Constellation Brands from $296.00 to $291.00 and set an “overweight” rating for the company in a report on Thursday. Deutsche Bank Aktiengesellschaft upped their target price on Constellation Brands from $256.00 to $262.00 and gave the company a “hold” rating in a report on Wednesday, April 10th. Finally, Wedbush restated an “outperform” rating and issued a $300.00 target price on shares of Constellation Brands in a report on Wednesday, April 10th. Three research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $298.37.

Constellation Brands Price Performance

STZ stock opened at $263.50 on Friday. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.19 and a quick ratio of 0.53. The firm has a market capitalization of $48.22 billion, a P/E ratio of 28.09, a P/E/G ratio of 1.80 and a beta of 0.89. The business’s 50-day moving average is $255.18 and its two-hundred day moving average is $252.70. Constellation Brands, Inc. has a 1 year low of $227.50 and a 1 year high of $274.87.

Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Thursday, April 11th. The company reported $2.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.10 by $0.16. The firm had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.09 billion. Constellation Brands had a return on equity of 23.06% and a net margin of 16.13%. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.98 EPS. Analysts anticipate that Constellation Brands, Inc. will post 13.53 earnings per share for the current fiscal year.

Constellation Brands Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 17th. Stockholders of record on Friday, May 3rd were given a $1.01 dividend. The ex-dividend date was Thursday, May 2nd. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.53%. This is an increase from Constellation Brands’s previous quarterly dividend of $0.89. Constellation Brands’s payout ratio is currently 43.07%.

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.