Private Advisor Group LLC Sells 281 Shares of Constellation Brands, Inc. (NYSE:STZ)

Private Advisor Group LLC decreased its position in Constellation Brands, Inc. (NYSE:STZ) by 1.7% during the fourth quarter, HoldingsChannel reports. The firm owned 16,688 shares of the company’s stock after selling 281 shares during the quarter. Private Advisor Group LLC’s holdings in Constellation Brands were worth $4,034,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Wealthcare Advisory Partners LLC boosted its stake in Constellation Brands by 70.4% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 3,631 shares of the company’s stock valued at $878,000 after buying an additional 1,500 shares in the last quarter. Summit Trail Advisors LLC grew its position in Constellation Brands by 5.7% during the 4th quarter. Summit Trail Advisors LLC now owns 2,152 shares of the company’s stock worth $520,000 after acquiring an additional 116 shares during the last quarter. Connecticut Wealth Management LLC acquired a new stake in Constellation Brands during the 4th quarter valued at $214,000. National Bank of Canada FI boosted its stake in Constellation Brands by 77.4% in the fourth quarter. National Bank of Canada FI now owns 87,702 shares of the company’s stock worth $21,389,000 after purchasing an additional 38,270 shares in the last quarter. Finally, TCG Advisory Services LLC bought a new stake in shares of Constellation Brands during the fourth quarter worth $8,584,000. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on STZ shares. Barclays raised their price target on shares of Constellation Brands from $294.00 to $295.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Roth Mkm reaffirmed a “buy” rating and issued a $305.00 price objective on shares of Constellation Brands in a research note on Friday, April 12th. Piper Sandler assumed coverage on shares of Constellation Brands in a report on Friday, March 22nd. They set an “overweight” rating and a $300.00 price objective for the company. UBS Group increased their target price on Constellation Brands from $312.00 to $320.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. Finally, Bank of America lifted their target price on Constellation Brands from $290.00 to $300.00 and gave the company a “buy” rating in a research report on Monday, March 18th. Three investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, Constellation Brands presently has an average rating of “Moderate Buy” and a consensus target price of $298.55.

Insider Buying and Selling

In related news, EVP James A. Jr. Sabia sold 15,781 shares of the business’s stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $263.63, for a total value of $4,160,345.03. Following the completion of the transaction, the executive vice president now directly owns 20,910 shares in the company, valued at approximately $5,512,503.30. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, EVP Michael Mcgrew sold 3,237 shares of Constellation Brands stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $255.50, for a total transaction of $827,053.50. Following the transaction, the executive vice president now directly owns 1,731 shares in the company, valued at $442,270.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP James A. Jr. Sabia sold 15,781 shares of the firm’s stock in a transaction on Friday, April 12th. The shares were sold at an average price of $263.63, for a total transaction of $4,160,345.03. Following the sale, the executive vice president now owns 20,910 shares in the company, valued at $5,512,503.30. The disclosure for this sale can be found here. Insiders sold a total of 23,031 shares of company stock worth $6,043,821 in the last three months. 16.19% of the stock is owned by corporate insiders.

Constellation Brands Price Performance

Constellation Brands stock opened at $260.70 on Friday. Constellation Brands, Inc. has a one year low of $223.01 and a one year high of $274.87. The business has a fifty day moving average price of $261.48 and a 200-day moving average price of $249.30. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.19 and a quick ratio of 0.53. The firm has a market capitalization of $47.70 billion, a P/E ratio of 27.79, a PEG ratio of 1.73 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings data on Thursday, April 11th. The company reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates of $2.10 by $0.16. The company had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.09 billion. Constellation Brands had a return on equity of 23.06% and a net margin of 16.13%. Constellation Brands’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period last year, the firm posted $1.98 EPS. As a group, equities research analysts forecast that Constellation Brands, Inc. will post 13.51 EPS for the current year.

Constellation Brands Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Friday, May 3rd will be given a $1.01 dividend. The ex-dividend date is Thursday, May 2nd. This is an increase from Constellation Brands’s previous quarterly dividend of $0.89. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.55%. Constellation Brands’s dividend payout ratio is currently 43.07%.

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.