FORVIS Wealth Advisors LLC Buys 433 Shares of Constellation Brands, Inc. (NYSE:STZ)

FORVIS Wealth Advisors LLC raised its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 4.4% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,314 shares of the company’s stock after purchasing an additional 433 shares during the period. FORVIS Wealth Advisors LLC’s holdings in Constellation Brands were worth $2,803,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Capital Advisors Ltd. LLC raised its position in Constellation Brands by 16.5% in the 1st quarter. Capital Advisors Ltd. LLC now owns 290 shares of the company’s stock worth $79,000 after purchasing an additional 41 shares during the period. Burns Matteson Capital Management LLC raised its position in Constellation Brands by 1.7% in the 4th quarter. Burns Matteson Capital Management LLC now owns 2,499 shares of the company’s stock worth $604,000 after purchasing an additional 42 shares during the period. 1620 Investment Advisors Inc. raised its position in Constellation Brands by 1.8% in the 4th quarter. 1620 Investment Advisors Inc. now owns 2,352 shares of the company’s stock worth $569,000 after purchasing an additional 42 shares during the period. FAS Wealth Partners Inc. raised its position in Constellation Brands by 3.5% in the 4th quarter. FAS Wealth Partners Inc. now owns 1,277 shares of the company’s stock worth $309,000 after purchasing an additional 43 shares during the period. Finally, Smithfield Trust Co increased its position in shares of Constellation Brands by 5.3% during the fourth quarter. Smithfield Trust Co now owns 854 shares of the company’s stock worth $207,000 after acquiring an additional 43 shares during the period. Institutional investors own 77.34% of the company’s stock.

Insider Buying and Selling at Constellation Brands

In other news, EVP James A. Jr. Sabia sold 15,781 shares of the business’s stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $263.63, for a total value of $4,160,345.03. Following the sale, the executive vice president now directly owns 20,910 shares of the company’s stock, valued at approximately $5,512,503.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, 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 transaction of $1,056,422.25. Following the sale, the chief executive officer now directly owns 5,395 shares of the company’s stock, valued at approximately $1,420,233.75. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP James A. Jr. Sabia sold 15,781 shares of the company’s stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $263.63, for a total transaction of $4,160,345.03. Following the sale, the executive vice president now directly owns 20,910 shares in the company, valued at $5,512,503.30. The disclosure for this sale can be found here. Insiders have sold 48,031 shares of company stock worth $12,582,321 in the last ninety days. 12.19% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

STZ has been the topic of a number of research reports. UBS Group raised their target price on shares of Constellation Brands from $315.00 to $320.00 and gave the stock a “buy” rating in a research report on Friday. Jefferies Financial Group raised their target price on shares of Constellation Brands from $310.00 to $311.00 and gave the company a “buy” rating in a research note on Friday. Royal Bank of Canada reiterated an “outperform” rating and set a $308.00 price objective on shares of Constellation Brands in a research note on Tuesday, May 28th. Roth Mkm reduced their target price on shares of Constellation Brands from $305.00 to $303.00 and set a “buy” rating for the company in a report on Friday. Finally, Truist Financial reaffirmed a “hold” rating and issued a $265.00 price objective on shares of Constellation Brands in a report on Wednesday. Three investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $300.16.

Constellation Brands Price Performance

STZ traded up $1.71 on Friday, reaching $252.08. 204,376 shares of the company’s stock were exchanged, compared to its average volume of 1,196,887. The stock has a market cap of $46.13 billion, a PE ratio of 26.69, a P/E/G ratio of 1.66 and a beta of 0.87. Constellation Brands, Inc. has a twelve month low of $227.50 and a twelve month high of $274.87. The stock’s fifty day moving average price is $254.77 and its 200-day moving average price is $253.97. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.19 and a quick ratio of 0.53.

Constellation Brands (NYSE:STZ) last posted its earnings results on Wednesday, July 3rd. The company reported $3.57 earnings per share for the quarter, beating the consensus estimate of $3.46 by $0.11. The company had revenue of $2.66 billion for the quarter, compared to analyst estimates of $2.67 billion. Constellation Brands had a net margin of 22.70% and a return on equity of 23.72%. Constellation Brands’s revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the business posted $2.91 EPS. Sell-side analysts expect that Constellation Brands, Inc. will post 13.67 EPS for the current year.

Constellation Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Wednesday, August 14th will be issued a $1.01 dividend. This represents a $4.04 annualized dividend and a yield of 1.60%. Constellation Brands’s payout ratio is 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.