Kingsview Wealth Management LLC Sells 17,479 Shares of Constellation Brands Inc $STZ

Kingsview Wealth Management LLC lessened its stake in shares of Constellation Brands Inc (NYSE:STZ) by 84.0% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 3,319 shares of the company’s stock after selling 17,479 shares during the period. Kingsview Wealth Management LLC’s holdings in Constellation Brands were worth $458,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Stance Capital LLC bought a new position in shares of Constellation Brands during the 3rd quarter worth approximately $26,000. GoalVest Advisory LLC bought a new position in shares of Constellation Brands during the 4th quarter worth approximately $28,000. Elyxium Wealth LLC bought a new position in shares of Constellation Brands during the 4th quarter worth approximately $33,000. Mowery & Schoenfeld Wealth Management LLC bought a new position in shares of Constellation Brands during the 4th quarter worth approximately $39,000. Finally, Accredited Wealth Management LLC lifted its position in shares of Constellation Brands by 572.3% during the 3rd quarter. Accredited Wealth Management LLC now owns 316 shares of the company’s stock worth $43,000 after buying an additional 269 shares during the period. Institutional investors own 77.34% of the company’s stock.

Insider Activity

In other news, EVP James O. Bourdeau sold 4,407 shares of the firm’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $143.24, for a total value of $631,258.68. Following the transaction, the executive vice president directly owned 9,109 shares in the company, valued at $1,304,773.16. This trade represents a 32.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 12.45% of the stock is owned by corporate insiders.

Constellation Brands Stock Down 0.9%

NYSE STZ opened at $135.59 on Thursday. The stock has a fifty day moving average of $151.19 and a 200-day moving average of $149.40. The stock has a market capitalization of $23.35 billion, a P/E ratio of 14.14, a price-to-earnings-growth ratio of 3.16 and a beta of 0.39. Constellation Brands Inc has a 52 week low of $126.45 and a 52 week high of $178.55. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.55 and a current ratio of 1.08.

Constellation Brands (NYSE:STZ) last released its earnings results on Wednesday, April 8th. The company reported $1.90 EPS for the quarter, beating the consensus estimate of $1.71 by $0.19. Constellation Brands had a return on equity of 26.18% and a net margin of 17.29%.The company had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.84 billion. During the same period last year, the firm earned $2.63 EPS. The business’s revenue for the quarter was down 11.3% on a year-over-year basis. On average, equities research analysts forecast that Constellation Brands Inc will post 11.89 EPS for the current year.

Constellation Brands Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Wednesday, April 29th were given a $1.03 dividend. The ex-dividend date was Wednesday, April 29th. This represents a $4.12 annualized dividend and a dividend yield of 3.0%. This is an increase from Constellation Brands’s previous quarterly dividend of $1.02. Constellation Brands’s dividend payout ratio is 42.96%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on STZ. Citigroup restated a “buy” rating on shares of Constellation Brands in a research report on Monday, May 18th. Barclays raised their price target on Constellation Brands from $151.00 to $170.00 and gave the company an “equal weight” rating in a report on Friday, April 10th. Evercore set a $175.00 price target on Constellation Brands and gave the company an “outperform” rating in a report on Friday, April 10th. UBS Group raised their price target on Constellation Brands from $176.00 to $186.00 and gave the company a “buy” rating in a report on Friday, April 10th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Constellation Brands from $154.00 to $155.00 and gave the company a “hold” rating in a report on Friday, April 10th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Constellation Brands has an average rating of “Moderate Buy” and an average price target of $175.26.

Constellation Brands Company Profile

Constellation Brands, Inc is a leading producer and marketer of beer, wine and spirits, with operations spanning production, importation, marketing and distribution. The company’s beverage portfolio includes a range of premium and mainstream wines and spirits alongside major imported beer brands; in the U.S. market Constellation is widely known for its role in bringing Mexican imports such as Corona and Modelo to American consumers. Constellation supplies retail, on?premise and foodservice channels and supports its brands with national sales and marketing platforms and supply?chain capabilities.

The company traces its roots to the Canandaigua Wine Company, founded by Marvin Sands in 1945, and evolved through organic growth and acquisition into a diversified beverage company.