Arkadios Wealth Advisors Buys 888 Shares of Constellation Brands, Inc. (NYSE:STZ)

Arkadios Wealth Advisors increased its stake in Constellation Brands, Inc. (NYSE:STZ) by 60.2% in the third quarter, Holdings Channel reports. The institutional investor owned 2,363 shares of the company’s stock after acquiring an additional 888 shares during the period. Arkadios Wealth Advisors’ holdings in Constellation Brands were worth $609,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. New Millennium Group LLC bought a new stake in shares of Constellation Brands in the 2nd quarter worth about $25,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Constellation Brands in the second quarter worth about $29,000. Horizon Bancorp Inc. IN purchased a new position in shares of Constellation Brands during the second quarter valued at approximately $32,000. Opal Wealth Advisors LLC bought a new position in shares of Constellation Brands during the second quarter valued at approximately $36,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in Constellation Brands in the 2nd quarter valued at $36,000. 77.34% of the stock is owned by hedge funds and other institutional investors.

Constellation Brands Stock Performance

Shares of STZ opened at $236.11 on Wednesday. Constellation Brands, Inc. has a one year low of $230.71 and a one year high of $274.87. The stock has a market cap of $43.20 billion, a P/E ratio of 17.59, a P/E/G ratio of 1.70 and a beta of 1.75. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.53 and a current ratio of 1.25. The stock has a 50-day moving average of $246.09 and a two-hundred day moving average of $250.10.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.08 by $0.24. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. The company had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.95 billion. During the same period last year, the firm posted $3.70 EPS. Constellation Brands’s revenue for the quarter was up 2.9% compared to the same quarter last year. As a group, research analysts predict that Constellation Brands, Inc. will post 13.57 EPS for the current year.

Constellation Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th will be issued a $1.01 dividend. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $4.04 annualized dividend and a dividend yield of 1.71%. Constellation Brands’s dividend payout ratio (DPR) is presently 30.10%.

Insider Buying and Selling at Constellation Brands

In other news, CFO Garth Hankinson sold 13,583 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $240.00, for a total transaction of $3,259,920.00. Following the sale, the chief financial officer now directly owns 11,702 shares of the company’s stock, valued at $2,808,480. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Robert Sands sold 119,274 shares of Constellation Brands stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $242.37, for a total value of $28,908,439.38. Following the sale, the director now directly owns 431,729 shares in the company, valued at approximately $104,638,157.73. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Garth Hankinson sold 13,583 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $240.00, for a total value of $3,259,920.00. Following the transaction, the chief financial officer now directly owns 11,702 shares of the company’s stock, valued at $2,808,480. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 134,367 shares of company stock valued at $32,539,170. 12.19% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Jefferies Financial Group lifted their price target on shares of Constellation Brands from $310.00 to $311.00 and gave the company a “buy” rating in a research note on Friday, July 5th. Bank of America reiterated a “neutral” rating and issued a $255.00 target price (down from $300.00) on shares of Constellation Brands in a report on Monday, October 7th. Evercore ISI cut their price target on Constellation Brands from $310.00 to $300.00 and set an “outperform” rating on the stock in a research note on Friday, October 4th. Truist Financial lowered their price objective on shares of Constellation Brands from $265.00 to $255.00 and set a “hold” rating for the company in a research note on Friday, October 4th. Finally, Morgan Stanley cut their target price on shares of Constellation Brands from $305.00 to $280.00 and set an “overweight” rating on the stock in a research report on Monday, August 26th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $290.47.

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.