HB Wealth Management LLC Raises Position in Constellation Brands, Inc. (NYSE:STZ)

HB Wealth Management LLC lifted its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 24.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,262 shares of the company’s stock after acquiring an additional 1,028 shares during the quarter. HB Wealth Management LLC’s holdings in Constellation Brands were worth $1,163,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Premier Path Wealth Partners LLC raised its stake in shares of Constellation Brands by 9.4% during the 4th quarter. Premier Path Wealth Partners LLC now owns 5,642 shares of the company’s stock worth $1,247,000 after buying an additional 485 shares in the last quarter. Sanibel Captiva Trust Company Inc. raised its position in Constellation Brands by 7.5% in the fourth quarter. Sanibel Captiva Trust Company Inc. now owns 16,356 shares of the company’s stock worth $3,615,000 after acquiring an additional 1,147 shares in the last quarter. Arkadios Wealth Advisors lifted its holdings in Constellation Brands by 7.1% in the fourth quarter. Arkadios Wealth Advisors now owns 2,530 shares of the company’s stock valued at $559,000 after acquiring an additional 167 shares during the period. B & T Capital Management DBA Alpha Capital Management boosted its position in shares of Constellation Brands by 3.1% during the 4th quarter. B & T Capital Management DBA Alpha Capital Management now owns 17,897 shares of the company’s stock worth $3,955,000 after purchasing an additional 546 shares in the last quarter. Finally, Merit Financial Group LLC grew its stake in shares of Constellation Brands by 132.9% during the 4th quarter. Merit Financial Group LLC now owns 2,271 shares of the company’s stock worth $502,000 after purchasing an additional 1,296 shares during the period. 77.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

STZ has been the topic of a number of research analyst reports. Jefferies Financial Group reissued a “hold” rating and set a $201.00 price objective (down previously from $310.00) on shares of Constellation Brands in a report on Monday, January 13th. Truist Financial decreased their price target on Constellation Brands from $255.00 to $190.00 and set a “hold” rating on the stock in a research note on Tuesday, January 14th. Roth Capital dropped their price objective on Constellation Brands from $298.00 to $284.00 and set a “buy” rating for the company in a research note on Friday. Bank of America reiterated a “neutral” rating and set a $255.00 target price (down from $300.00) on shares of Constellation Brands in a research report on Monday, October 7th. Finally, BNP Paribas started coverage on Constellation Brands in a research note on Monday, November 25th. They set a “neutral” rating and a $261.00 price target for the company. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Constellation Brands presently has a consensus rating of “Moderate Buy” and a consensus price target of $259.05.

Insider Activity

In related news, CEO William A. Newlands sold 7,426 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $237.24, for a total transaction of $1,761,744.24. Following the transaction, the chief executive officer now directly owns 7,274 shares of the company’s stock, valued at approximately $1,725,683.76. The trade was a 50.52 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder Wildstar Partners Llc sold 660 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $241.00, for a total transaction of $159,060.00. Following the completion of the sale, the insider now directly owns 1,736,884 shares of the company’s stock, valued at $418,589,044. This trade represents a 0.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 69,172 shares of company stock valued at $16,778,841 in the last three months. Corporate insiders own 12.19% of the company’s stock.

Constellation Brands Trading Down 0.3 %

NYSE STZ opened at $184.05 on Tuesday. The company has a market cap of $33.42 billion, a P/E ratio of 49.48, a P/E/G ratio of 1.28 and a beta of 0.91. Constellation Brands, Inc. has a 12 month low of $176.51 and a 12 month high of $274.87. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.25 and a quick ratio of 0.53. The company has a 50-day moving average of $226.75 and a 200-day moving average of $238.74.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings results on Friday, January 10th. The company reported $3.25 EPS for the quarter, missing the consensus estimate of $3.33 by ($0.08). The company had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.53 billion. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The business’s revenue for the quarter was down .3% on a year-over-year basis. During the same period last year, the company posted $3.19 EPS. As a group, equities analysts predict that Constellation Brands, Inc. will post 13.72 earnings per share for the current year.

Constellation Brands Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Friday, February 7th will be given a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date is Friday, February 7th. Constellation Brands’s dividend payout ratio (DPR) is presently 108.60%.

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.