Premier Path Wealth Partners LLC Increases Position in Constellation Brands, Inc. (NYSE:STZ)

Premier Path Wealth Partners LLC increased its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 9.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,642 shares of the company’s stock after buying an additional 485 shares during the period. Premier Path Wealth Partners LLC’s holdings in Constellation Brands were worth $1,247,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in STZ. Paloma Partners Management Co boosted its stake in shares of Constellation Brands by 568.4% during the 3rd quarter. Paloma Partners Management Co now owns 30,000 shares of the company’s stock worth $7,731,000 after acquiring an additional 25,512 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in Constellation Brands by 3.7% during the third quarter. Nomura Asset Management Co. Ltd. now owns 84,204 shares of the company’s stock worth $21,699,000 after purchasing an additional 2,980 shares during the last quarter. Empowered Funds LLC boosted its position in Constellation Brands by 318.8% during the third quarter. Empowered Funds LLC now owns 10,184 shares of the company’s stock worth $2,624,000 after purchasing an additional 7,752 shares in the last quarter. WealthPlan Investment Management LLC grew its holdings in Constellation Brands by 29.5% in the third quarter. WealthPlan Investment Management LLC now owns 30,160 shares of the company’s stock valued at $7,772,000 after purchasing an additional 6,867 shares during the last quarter. Finally, Signature Estate & Investment Advisors LLC purchased a new position in shares of Constellation Brands in the third quarter valued at $2,132,000. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

STZ has been the topic of several recent research reports. Jefferies Financial Group reiterated a “hold” rating and issued a $201.00 price objective (down from $310.00) on shares of Constellation Brands in a research report on Monday, January 13th. Royal Bank of Canada reiterated an “outperform” rating and issued a $308.00 price target on shares of Constellation Brands in a research report on Tuesday, January 7th. JPMorgan Chase & Co. restated a “neutral” rating and set a $203.00 price objective (down from $262.00) on shares of Constellation Brands in a research report on Monday, January 13th. Roth Mkm reiterated a “buy” rating and set a $298.00 target price on shares of Constellation Brands in a report on Friday, October 4th. Finally, Piper Sandler cut 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. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $259.05.

Constellation Brands Stock Down 0.3 %

Shares of NYSE STZ opened at $184.05 on Friday. The stock has a market capitalization of $33.42 billion, a PE ratio of 49.48, a P/E/G ratio of 1.28 and a beta of 0.91. The company has a quick ratio of 0.53, a current ratio of 1.25 and a debt-to-equity ratio of 1.31. The firm has a fifty day moving average of $227.76 and a 200-day moving average of $239.46. Constellation Brands, Inc. has a 52-week low of $176.51 and a 52-week high of $274.87.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Friday, January 10th. The company reported $3.25 EPS for the quarter, missing the consensus estimate of $3.33 by ($0.08). The firm had revenue of $2.46 billion for 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 revenue was down .3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.19 earnings per share. On average, analysts anticipate that Constellation Brands, Inc. will post 13.72 EPS for the current year.

Constellation Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Friday, February 7th will be paid a $1.01 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 2.20%. Constellation Brands’s dividend payout ratio (DPR) is currently 108.60%.

Insider Activity at Constellation Brands

In other Constellation Brands news, EVP James A. Jr. Sabia sold 36,086 shares of the firm’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $242.99, for a total value of $8,768,537.14. Following the transaction, the executive vice president now owns 16,042 shares of the company’s stock, valued at $3,898,045.58. This trade represents a 69.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO William A. Newlands sold 7,426 shares of the company’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $237.24, for a total value of $1,761,744.24. Following the transaction, the chief executive officer now owns 7,274 shares of the company’s stock, valued at approximately $1,725,683.76. The trade was a 50.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 69,172 shares of company stock worth $16,778,841. 12.19% of the stock is currently owned by company insiders.

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.