Constellation Brands, Inc. (NYSE:STZ) Shares Acquired by Wedmont Private Capital

Wedmont Private Capital lifted its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 30.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,011 shares of the company’s stock after acquiring an additional 468 shares during the quarter. Wedmont Private Capital’s holdings in Constellation Brands were worth $489,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Daymark Wealth Partners LLC lifted its holdings in shares of Constellation Brands by 14.9% during the 3rd quarter. Daymark Wealth Partners LLC now owns 5,536 shares of the company’s stock valued at $1,427,000 after acquiring an additional 719 shares in the last quarter. Peddock Capital Advisors LLC lifted its holdings in Constellation Brands by 1.1% in the 3rd quarter. Peddock Capital Advisors LLC now owns 18,476 shares of the company’s stock worth $4,761,000 after buying an additional 197 shares in the last quarter. Strategic Wealth Partners Ltd. lifted its holdings in Constellation Brands by 1.7% in the 3rd quarter. Strategic Wealth Partners Ltd. now owns 28,991 shares of the company’s stock worth $7,471,000 after buying an additional 472 shares in the last quarter. Brookstone Capital Management lifted its holdings in Constellation Brands by 7.2% in the 3rd quarter. Brookstone Capital Management now owns 15,734 shares of the company’s stock worth $4,055,000 after buying an additional 1,061 shares in the last quarter. Finally, Marion Wealth Management lifted its holdings in Constellation Brands by 5.5% in the 3rd quarter. Marion Wealth Management now owns 5,554 shares of the company’s stock worth $1,431,000 after buying an additional 289 shares in the last quarter. Institutional investors and hedge funds own 77.34% of the company’s stock.

Analyst Upgrades and Downgrades

STZ has been the topic of a number of recent analyst reports. BMO Capital Markets reiterated an “outperform” rating and issued a $315.00 price objective on shares of Constellation Brands in a report on Friday, July 5th. Truist Financial cut their price objective on shares of Constellation Brands from $265.00 to $255.00 and set a “hold” rating on the stock in a report on Friday, October 4th. Barclays cut their price objective on shares of Constellation Brands from $309.00 to $300.00 and set an “overweight” rating on the stock in a report on Monday, October 7th. Roth Mkm reissued a “buy” rating and issued a $298.00 target price on shares of Constellation Brands in a research report on Friday, October 4th. Finally, Bank of America reissued a “neutral” rating and issued a $255.00 target price (down previously from $300.00) on shares of Constellation Brands in a research report on Monday, October 7th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $291.06.

Insider Buying and Selling at Constellation Brands

In other Constellation Brands news, Director Daniel J. Mccarthy sold 1,854 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $252.43, for a total transaction of $468,005.22. Following the completion of the transaction, the director now directly owns 3,232 shares of the company’s stock, valued at $815,853.76. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Constellation Brands news, Director Daniel J. Mccarthy sold 1,854 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $252.43, for a total transaction of $468,005.22. Following the completion of the transaction, the director now directly owns 3,232 shares of the company’s stock, valued at $815,853.76. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Garth Hankinson sold 13,583 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $240.00, for a total transaction of $3,259,920.00. Following the transaction, the chief financial officer now directly owns 11,702 shares of the company’s stock, valued at $2,808,480. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 12.19% of the stock is currently owned by company insiders.

Constellation Brands Price Performance

Shares of NYSE:STZ opened at $241.06 on Friday. The company has a quick ratio of 0.53, a current ratio of 1.25 and a debt-to-equity ratio of 1.31. Constellation Brands, Inc. has a fifty-two week low of $227.50 and a fifty-two week high of $274.87. The firm has a 50-day simple moving average of $246.10 and a 200 day simple moving average of $252.53. The company has a market cap of $44.11 billion, a PE ratio of 17.96, a P/E/G ratio of 1.70 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings data on Thursday, October 3rd. The company reported $4.32 earnings per share for the quarter, beating analysts’ consensus estimates of $4.08 by $0.24. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. The business had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.95 billion. During the same quarter in the prior year, the firm earned $3.70 EPS. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Constellation Brands, Inc. will post 13.57 EPS for the current year.

Constellation Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th will be paid a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date is Tuesday, November 5th. Constellation Brands’s payout ratio is 30.10%.

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.