Constellation Brands, Inc. (NYSE:STZ) Shares Purchased by Smith Salley Wealth Management

Smith Salley Wealth Management grew its stake in Constellation Brands, Inc. (NYSE:STZ) by 1.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 71,277 shares of the company’s stock after acquiring an additional 1,270 shares during the quarter. Smith Salley Wealth Management’s holdings in Constellation Brands were worth $15,752,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Ameritas Advisory Services LLC boosted its position in Constellation Brands by 2.3% during the fourth quarter. Ameritas Advisory Services LLC now owns 5,928 shares of the company’s stock worth $1,310,000 after acquiring an additional 134 shares during the last quarter. HB Wealth Management LLC boosted its holdings in shares of Constellation Brands by 24.3% during the fourth quarter. HB Wealth Management LLC now owns 5,262 shares of the company’s stock worth $1,163,000 after purchasing an additional 1,028 shares during the last quarter. Premier Path Wealth Partners LLC boosted its holdings in shares of Constellation Brands by 9.4% during the fourth quarter. Premier Path Wealth Partners LLC now owns 5,642 shares of the company’s stock worth $1,247,000 after purchasing an additional 485 shares during the last quarter. Sanibel Captiva Trust Company Inc. grew its position in shares of Constellation Brands by 7.5% in the fourth quarter. Sanibel Captiva Trust Company Inc. now owns 16,356 shares of the company’s stock valued at $3,615,000 after purchasing an additional 1,147 shares during the period. Finally, Arkadios Wealth Advisors increased its stake 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 purchasing an additional 167 shares during the last quarter. Institutional investors and hedge funds own 77.34% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on STZ shares. Piper Sandler lowered their price target on Constellation Brands from $300.00 to $245.00 and set an “overweight” rating for the company in a report on Monday, January 13th. BMO Capital Markets decreased their target price on shares of Constellation Brands from $315.00 to $305.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 15th. Wells Fargo & Company dropped their price target on shares of Constellation Brands from $295.00 to $275.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $203.00 price target (down previously from $262.00) on shares of Constellation Brands in a report on Monday, January 13th. Finally, TD Cowen lowered their price objective on shares of Constellation Brands from $270.00 to $260.00 and set a “hold” rating for the company in a research note on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $259.05.

Constellation Brands Trading Down 0.3 %

NYSE STZ opened at $184.05 on Friday. The stock has a market cap of $33.42 billion, a P/E ratio of 49.48, a PEG ratio of 1.28 and a beta of 0.91. The company’s fifty day simple moving average is $226.75 and its 200-day simple moving average is $238.96. 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 52 week low of $176.51 and a 52 week high of $274.87.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings data on Friday, January 10th. The company reported $3.25 EPS for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.08). The firm had revenue of $2.46 billion during 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 quarterly revenue was down .3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.19 EPS. Equities research analysts predict that Constellation Brands, Inc. will post 13.72 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Friday, February 7th will be issued a $1.01 dividend. 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 is currently 108.60%.

Insider Buying and Selling at Constellation Brands

In other news, EVP James A. Jr. Sabia sold 36,086 shares of the stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $242.99, for a total transaction of $8,768,537.14. Following the transaction, the executive vice president now owns 16,042 shares of the company’s stock, valued at approximately $3,898,045.58. This trade represents a 69.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Wildstar Partners Llc sold 660 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $241.00, for a total value 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 approximately $418,589,044. This represents a 0.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 69,172 shares of company stock worth $16,778,841 in the last 90 days. 12.19% of the stock is owned by corporate insiders.

Constellation Brands Company 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.