Legacy Capital Wealth Partners LLC Boosts Position in Constellation Brands, Inc. (NYSE:STZ)

Legacy Capital Wealth Partners LLC raised its position in Constellation Brands, Inc. (NYSE:STZ) by 40.9% during the 3rd quarter, Holdings Channel reports. The firm owned 2,227 shares of the company’s stock after acquiring an additional 646 shares during the quarter. Legacy Capital Wealth Partners LLC’s holdings in Constellation Brands were worth $574,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Orion Portfolio Solutions LLC increased its holdings in Constellation Brands by 1.1% during the 1st quarter. Orion Portfolio Solutions LLC now owns 3,676 shares of the company’s stock valued at $999,000 after acquiring an additional 39 shares in the last quarter. Oakworth Capital Inc. raised its position in shares of Constellation Brands by 4.4% during the 3rd quarter. Oakworth Capital Inc. now owns 989 shares of the company’s stock worth $255,000 after purchasing an additional 42 shares during the last quarter. PFG Investments LLC lifted its stake in Constellation Brands by 3.8% in the 3rd quarter. PFG Investments LLC now owns 1,150 shares of the company’s stock valued at $296,000 after buying an additional 42 shares in the last quarter. Brighton Jones LLC grew its holdings in Constellation Brands by 4.7% during the 2nd quarter. Brighton Jones LLC now owns 950 shares of the company’s stock valued at $244,000 after buying an additional 43 shares during the last quarter. Finally, Industrial Alliance Investment Management Inc. grew its holdings in Constellation Brands by 4.4% during the 1st quarter. Industrial Alliance Investment Management Inc. now owns 1,049 shares of the company’s stock valued at $285,000 after buying an additional 44 shares during the last quarter. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Insider Buying and Selling

In other Constellation Brands news, CEO William A. Newlands sold 7,426 shares of the company’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $237.24, for a total value of $1,761,744.24. Following the completion of the transaction, the chief executive officer now directly owns 7,274 shares of the company’s stock, valued at $1,725,683.76. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Constellation Brands news, EVP Samuel J. Glaetzer sold 1,510 shares of Constellation Brands stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $245.57, for a total transaction of $370,810.70. Following the sale, the executive vice president now directly owns 4,970 shares in the company, valued at $1,220,482.90. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William A. Newlands sold 7,426 shares of the firm’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 sale, the chief executive officer now directly owns 7,274 shares of the company’s stock, valued at $1,725,683.76. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 128,210 shares of company stock valued at $31,040,994 in the last quarter. Company insiders own 12.19% of the company’s stock.

Constellation Brands Stock Up 0.5 %

Shares of Constellation Brands stock opened at $234.38 on Monday. The company has a fifty day moving average price of $244.87 and a 200 day moving average price of $248.77. The company has a current ratio of 1.25, a quick ratio of 0.53 and a debt-to-equity ratio of 1.31. Constellation Brands, Inc. has a twelve month low of $224.76 and a twelve month high of $274.87. The stock has a market cap of $42.55 billion, a price-to-earnings ratio of 75.85, a price-to-earnings-growth ratio of 1.62 and a beta of 0.90.

Constellation Brands (NYSE:STZ) last announced its earnings results on Thursday, October 3rd. The company reported $4.32 EPS for the quarter, beating the consensus estimate of $4.08 by $0.24. The business had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.95 billion. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The company’s revenue was up 2.9% on a year-over-year basis. During the same period last year, the business posted $3.70 EPS. Equities research analysts forecast that Constellation Brands, Inc. will post 13.57 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Tuesday, November 5th will be issued a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date of this dividend is Tuesday, November 5th. Constellation Brands’s payout ratio is 130.74%.

Analyst Ratings Changes

Several analysts have recently issued reports on STZ shares. TD Cowen downgraded Constellation Brands from a “buy” rating to a “hold” rating and reduced their price objective for the company from $300.00 to $270.00 in a research report on Tuesday, October 8th. Roth Mkm restated a “buy” rating and issued a $298.00 target price on shares of Constellation Brands in a report on Friday, October 4th. Barclays lowered their price target on shares of Constellation Brands from $309.00 to $300.00 and set an “overweight” rating for the company in a report on Monday, October 7th. Truist Financial reduced their price objective on shares of Constellation Brands from $265.00 to $255.00 and set a “hold” rating on the stock in a research note on Friday, October 4th. Finally, Evercore ISI cut their price target on Constellation Brands from $310.00 to $300.00 and set an “outperform” rating for the company in a report on Friday, October 4th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, Constellation Brands currently has a consensus rating of “Moderate Buy” and an average price target 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.