Prentice Wealth Management LLC Trims Stock Holdings in Constellation Brands, Inc. (NYSE:STZ)

Prentice Wealth Management LLC decreased its stake in Constellation Brands, Inc. (NYSE:STZ) by 1.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,504 shares of the company’s stock after selling 49 shares during the quarter. Prentice Wealth Management LLC’s holdings in Constellation Brands were worth $903,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. New Millennium Group LLC purchased a new stake in Constellation Brands in the second quarter worth about $25,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Constellation Brands in the second quarter worth about $29,000. Horizon Bancorp Inc. IN purchased a new stake in shares of Constellation Brands during the second quarter worth about $32,000. YHB Investment Advisors Inc. purchased a new stake in shares of Constellation Brands during the first quarter worth about $35,000. Finally, Kapitalo Investimentos Ltda purchased a new stake in shares of Constellation Brands during the fourth quarter worth about $35,000. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on STZ. Bank of America reiterated a “neutral” rating and set a $255.00 target price (down previously from $300.00) on shares of Constellation Brands in a research report on Monday. JPMorgan Chase & Co. cut their target price on Constellation Brands from $307.00 to $293.00 and set an “overweight” rating for the company in a research report on Friday. Truist Financial cut their target price on Constellation Brands from $265.00 to $255.00 and set a “hold” rating for the company in a research report on Friday. Barclays cut their target price on Constellation Brands from $309.00 to $300.00 and set an “overweight” rating for the company in a research report on Monday. Finally, Roth Mkm reiterated a “buy” rating and set a $298.00 target price on shares of Constellation Brands in a research report on Friday. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $292.38.

Insider Buying and Selling

In related news, Director Daniel J. Mccarthy sold 1,854 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $252.43, for a total transaction of $468,005.22. Following the completion of the sale, the director now directly owns 3,232 shares of the company’s stock, valued at approximately $815,853.76. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Daniel J. Mccarthy sold 1,854 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $252.43, for a total transaction of $468,005.22. Following the completion of the sale, the director now directly owns 3,232 shares of the company’s stock, valued at approximately $815,853.76. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kaneenat Kristann Carey sold 977 shares of the firm’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $261.00, for a total value of $254,997.00. Following the sale, the executive vice president now directly owns 2,706 shares of the company’s stock, valued at $706,266. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 16,414 shares of company stock valued at $3,982,922. Insiders own 12.19% of the company’s stock.

Constellation Brands Trading Down 1.5 %

Shares of NYSE:STZ traded down $3.60 during trading on Monday, hitting $243.07. The company had a trading volume of 1,752,436 shares, compared to its average volume of 1,186,021. The stock has a market cap of $44.48 billion, a price-to-earnings ratio of 18.16, a price-to-earnings-growth ratio of 1.74 and a beta of 1.75. Constellation Brands, Inc. has a one year low of $227.50 and a one year high of $274.87. The company has a fifty day simple moving average of $246.53 and a two-hundred day simple moving average of $253.29. 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 quarterly earnings data on Thursday, October 3rd. The company reported $4.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.08 by $0.24. The business had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.95 billion. Constellation Brands had a return on equity of 23.72% and a net margin of 22.70%. The company’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same period last year, the company earned $3.70 EPS. As a group, equities analysts forecast that Constellation Brands, Inc. will post 13.53 earnings per share for the current year.

Constellation Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Tuesday, November 5th will be paid a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date is Tuesday, November 5th. Constellation Brands’s dividend payout ratio is currently 30.10%.

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.