Global Wealth Management Investment Advisory Inc. Increases Position in Constellation Brands, Inc. (NYSE:STZ)

Global Wealth Management Investment Advisory Inc. grew its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 19.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 9,238 shares of the company’s stock after buying an additional 1,514 shares during the quarter. Global Wealth Management Investment Advisory Inc.’s holdings in Constellation Brands were worth $2,042,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of STZ. Union Bancaire Privee UBP SA purchased a new stake in Constellation Brands in the fourth quarter worth $28,000. Versant Capital Management Inc lifted its holdings in Constellation Brands by 887.5% during the 4th quarter. Versant Capital Management Inc now owns 158 shares of the company’s stock valued at $35,000 after buying an additional 142 shares in the last quarter. Eastern Bank purchased a new stake in Constellation Brands in the 3rd quarter valued at about $39,000. FSA Wealth Management LLC bought a new position in Constellation Brands in the 3rd quarter worth about $42,000. Finally, Truvestments Capital LLC purchased a new position in shares of Constellation Brands during the third quarter worth approximately $60,000. 77.34% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

STZ has been the topic of several research reports. TD Cowen reduced their price objective on Constellation Brands from $270.00 to $260.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Piper Sandler cut shares of Constellation Brands from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $245.00 to $200.00 in a report on Monday, February 3rd. Morgan Stanley reduced their price target on shares of Constellation Brands from $280.00 to $220.00 and set an “overweight” rating for the company in a report on Monday, January 13th. Wells Fargo & Company lowered 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. Finally, BNP Paribas initiated coverage on shares of Constellation Brands in a research note on Monday, November 25th. They issued a “neutral” rating and a $261.00 price objective for the company. One analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $254.29.

Insider Buying and Selling at Constellation Brands

In other news, Director William T. Giles acquired 1,000 shares of the company’s stock in a transaction dated Friday, January 17th. The stock was acquired at an average cost of $186.39 per share, with a total value of $186,390.00. Following the completion of the purchase, the director now owns 1,463 shares of the company’s stock, valued at $272,688.57. This represents a 215.98 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, CEO William A. Newlands sold 25,000 shares of the stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $243.58, for a total value of $6,089,500.00. Following the transaction, the chief executive officer now directly owns 7,274 shares in the company, valued at approximately $1,771,800.92. The trade was a 77.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 61,746 shares of company stock worth $15,017,097 in the last ninety days. 12.19% of the stock is owned by insiders.

Constellation Brands Stock Performance

NYSE STZ opened at $169.05 on Monday. The stock has a 50-day moving average of $208.85 and a 200 day moving average of $231.27. Constellation Brands, Inc. has a twelve month low of $166.02 and a twelve month high of $274.87. The stock has a market capitalization of $30.55 billion, a price-to-earnings ratio of 45.44, a PEG ratio of 1.51 and a beta of 0.90. The company has a current ratio of 1.10, a quick ratio of 0.46 and a debt-to-equity ratio of 1.26.

Constellation Brands (NYSE:STZ) last released its earnings results on Friday, January 10th. The company reported $3.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.08). Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The business had revenue of $2.46 billion for the quarter, compared to analysts’ expectations of $2.53 billion. During the same period in the previous year, the company earned $3.19 EPS. Constellation Brands’s quarterly revenue was down .3% compared to the same quarter last year. Sell-side analysts anticipate that Constellation Brands, Inc. will post 13.5 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Friday, February 7th will be given a dividend of $1.01 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $4.04 annualized dividend and a dividend yield of 2.39%. Constellation Brands’s payout ratio is 108.60%.

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.