Marion Wealth Management Grows Stock Position in Constellation Brands, Inc. (NYSE:STZ)

Marion Wealth Management grew its stake in Constellation Brands, Inc. (NYSE:STZ) by 3.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,747 shares of the company’s stock after buying an additional 193 shares during the quarter. Marion Wealth Management’s holdings in Constellation Brands were worth $1,270,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. State Street Corp increased its stake in shares of Constellation Brands by 6.0% in the 3rd quarter. State Street Corp now owns 7,144,428 shares of the company’s stock valued at $1,841,048,000 after purchasing an additional 402,211 shares in the last quarter. Janus Henderson Group PLC increased its position in shares of Constellation Brands by 1.2% in the third quarter. Janus Henderson Group PLC now owns 1,853,081 shares of the company’s stock valued at $477,515,000 after buying an additional 21,454 shares in the last quarter. Legal & General Group Plc raised its stake in shares of Constellation Brands by 5.7% during the 2nd quarter. Legal & General Group Plc now owns 1,335,976 shares of the company’s stock worth $343,717,000 after buying an additional 72,637 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Constellation Brands by 31.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,002,332 shares of the company’s stock valued at $257,865,000 after buying an additional 241,982 shares in the last quarter. Finally, International Assets Investment Management LLC grew its stake in Constellation Brands by 23,184.7% in the 3rd quarter. International Assets Investment Management LLC now owns 499,689 shares of the company’s stock valued at $128,765,000 after acquiring an additional 497,543 shares during the period. 77.34% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have issued reports on STZ. Royal Bank of Canada reaffirmed an “outperform” rating and set a $308.00 price objective on shares of Constellation Brands in a report on Tuesday, January 7th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $201.00 price target (down from $310.00) on shares of Constellation Brands in a research note on Monday. BMO Capital Markets reduced their target price on Constellation Brands from $315.00 to $305.00 and set an “outperform” rating for the company in a report on Tuesday, October 15th. Evercore ISI lowered their price target on Constellation Brands from $300.00 to $250.00 and set an “outperform” rating on the stock in a research note on Monday. Finally, TD Cowen reduced their price objective on Constellation Brands from $270.00 to $260.00 and set a “hold” rating for the company in a research note on Wednesday, January 8th. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $268.05.

Constellation Brands Trading Up 2.2 %

STZ stock traded up $4.03 during midday trading on Monday, hitting $185.84. 5,460,510 shares of the company’s stock were exchanged, compared to its average volume of 3,255,860. Constellation Brands, Inc. has a 1-year low of $176.51 and a 1-year high of $274.87. The company has a current ratio of 1.25, a quick ratio of 0.53 and a debt-to-equity ratio of 1.31. The stock has a market capitalization of $33.74 billion, a PE ratio of 60.14, a P/E/G ratio of 1.69 and a beta of 1.75. The business has a 50-day simple moving average of $231.88 and a two-hundred day simple moving average of $241.28.

Constellation Brands (NYSE:STZ) last released 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). Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The firm had revenue of $2.46 billion for the quarter, compared to analysts’ expectations of $2.53 billion. During the same quarter in the prior year, the business earned $3.19 earnings per share. The company’s quarterly revenue was down .3% on a year-over-year basis. On average, sell-side analysts predict that Constellation Brands, Inc. will post 13.57 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Friday, February 7th will be given a dividend of $1.01 per share. The ex-dividend date is Friday, February 7th. This represents a $4.04 annualized dividend and a dividend yield of 2.17%. Constellation Brands’s dividend payout ratio is presently 130.74%.

Insiders Place Their Bets

In other Constellation Brands news, CEO William A. Newlands sold 25,000 shares of the stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $243.58, for a total value of $6,089,500.00. Following the sale, the chief executive officer now directly owns 7,274 shares of the company’s stock, valued at approximately $1,771,800.92. This represents a 77.46 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Wildstar Partners Llc sold 660 shares of Constellation Brands stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $241.00, for a total transaction of $159,060.00. Following the sale, the insider now directly owns 1,736,884 shares of the company’s stock, valued at approximately $418,589,044. This trade represents a 0.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 188,446 shares of company stock worth $45,687,281 in the last ninety days. 12.19% of the stock is owned by corporate 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.