Compass Wealth Management LLC Acquires 2,022 Shares of Constellation Brands, Inc. (NYSE:STZ)

Compass Wealth Management LLC boosted its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 5.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 37,839 shares of the company’s stock after purchasing an additional 2,022 shares during the period. Constellation Brands comprises approximately 2.3% of Compass Wealth Management LLC’s investment portfolio, making the stock its 4th biggest holding. Compass Wealth Management LLC’s holdings in Constellation Brands were worth $9,751,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in STZ. Manning & Napier Advisors LLC purchased a new position in shares of Constellation Brands during the 2nd quarter valued at approximately $119,394,000. Vanguard Group Inc. boosted its stake in shares of Constellation Brands by 3.5% during the 1st quarter. Vanguard Group Inc. now owns 13,705,793 shares of the company’s stock worth $3,724,686,000 after acquiring an additional 462,891 shares in the last quarter. Howland Capital Management LLC grew its position in shares of Constellation Brands by 3.0% during the 1st quarter. Howland Capital Management LLC now owns 141,314 shares of the company’s stock valued at $38,403,000 after acquiring an additional 4,051 shares during the period. Quadrature Capital Ltd purchased a new position in shares of Constellation Brands in the 4th quarter valued at about $958,000. Finally, Capital International Sarl raised its holdings in Constellation Brands by 35.9% in the 1st quarter. Capital International Sarl now owns 10,462 shares of the company’s stock worth $2,843,000 after purchasing an additional 2,764 shares during the period. 77.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. TD Cowen cut Constellation Brands from a “buy” rating to a “hold” rating and cut their price objective for the company from $300.00 to $270.00 in a research report on Tuesday, October 8th. Morgan Stanley cut their price target on shares of Constellation Brands from $305.00 to $280.00 and set an “overweight” rating for the company in a report on Monday, August 26th. Barclays decreased 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. Jefferies Financial Group boosted their target price on shares of Constellation Brands from $310.00 to $311.00 and gave the stock a “buy” rating in a research note on Friday, July 5th. Finally, Truist Financial decreased their price target on shares of Constellation Brands from $265.00 to $255.00 and set a “hold” rating on the stock in a research note on Friday, October 4th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $290.47.

Insiders Place Their Bets

In other news, EVP Samuel J. Glaetzer sold 1,510 shares of the firm’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $245.57, for a total value of $370,810.70. Following the sale, the executive vice president now directly owns 4,970 shares in the company, valued at approximately $1,220,482.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Constellation Brands news, CFO Garth Hankinson sold 13,583 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $240.00, for a total value of $3,259,920.00. Following the transaction, the chief financial officer now directly owns 11,702 shares in the company, valued at $2,808,480. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Samuel J. Glaetzer sold 1,510 shares of Constellation Brands stock in a transaction on Monday, October 14th. The stock was sold at an average price of $245.57, for a total transaction of $370,810.70. Following the sale, the executive vice president now owns 4,970 shares in the company, valued at $1,220,482.90. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 16,947 shares of company stock worth $4,098,736 in the last 90 days. Corporate insiders own 12.19% of the company’s stock.

Constellation Brands Stock Down 1.1 %

Shares of Constellation Brands stock traded down $2.75 during trading hours on Thursday, reaching $240.84. 596,613 shares of the company were exchanged, compared to its average volume of 1,186,201. The firm has a market cap of $44.07 billion, a PE ratio of 18.15, a PEG ratio of 1.70 and a beta of 1.75. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.53 and a current ratio of 1.25. Constellation Brands, Inc. has a 1 year low of $227.64 and a 1 year high of $274.87. The stock’s fifty day moving average is $246.51 and its 200 day moving average is $251.83.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share for the quarter, topping the consensus estimate of $4.08 by $0.24. The company had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.95 billion. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. Constellation Brands’s revenue was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.70 EPS. As a group, equities research analysts forecast that Constellation Brands, Inc. will post 13.57 earnings per share for the current year.

Constellation Brands Announces Dividend

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

Constellation Brands Company 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.