Whalen Wealth Management Inc. Buys New Position in Constellation Brands, Inc. (NYSE:STZ)

Whalen Wealth Management Inc. purchased a new position in shares of Constellation Brands, Inc. (NYSE:STZ) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,240 shares of the company’s stock, valued at approximately $274,000.

A number of other hedge funds and other institutional investors have also modified their holdings of STZ. Mutual Advisors LLC raised its stake in Constellation Brands by 184.5% during the fourth quarter. Mutual Advisors LLC now owns 4,544 shares of the company’s stock worth $1,004,000 after purchasing an additional 2,947 shares during the period. Wesbanco Bank Inc. raised its position in shares of Constellation Brands by 2.4% in the 4th quarter. Wesbanco Bank Inc. now owns 38,665 shares of the company’s stock worth $8,545,000 after buying an additional 901 shares during the period. Janney Montgomery Scott LLC boosted its holdings in Constellation Brands by 2.2% in the fourth quarter. Janney Montgomery Scott LLC now owns 138,024 shares of the company’s stock valued at $30,504,000 after acquiring an additional 2,927 shares during the last quarter. Baker Ellis Asset Management LLC grew its position in Constellation Brands by 27.9% during the fourth quarter. Baker Ellis Asset Management LLC now owns 1,376 shares of the company’s stock valued at $304,000 after acquiring an additional 300 shares during the period. Finally, Fort Washington Investment Advisors Inc. OH grew its position in Constellation Brands by 9.9% during the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 214,264 shares of the company’s stock valued at $47,352,000 after acquiring an additional 19,266 shares during the period. 77.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on STZ. Truist Financial cut their price objective on Constellation Brands from $255.00 to $190.00 and set a “hold” rating on the stock in a report on Tuesday, January 14th. Needham & Company LLC reaffirmed a “buy” rating and set a $280.00 price target on shares of Constellation Brands in a research report on Friday, January 10th. Barclays dropped their price objective on shares of Constellation Brands from $282.00 to $214.00 and set an “overweight” rating for the company in a research report on Tuesday, January 14th. Piper Sandler cut their target price on shares of Constellation Brands from $300.00 to $245.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $201.00 price target (down from $310.00) on shares of Constellation Brands in a research report on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $259.05.

Constellation Brands Stock Down 2.2 %

Shares of NYSE:STZ opened at $178.99 on Thursday. The firm has a market cap of $32.35 billion, a PE ratio of 48.12, a price-to-earnings-growth ratio of 1.61 and a beta of 0.91. The company has a fifty day simple moving average of $223.36 and a 200 day simple moving average of $237.32. The company has a current ratio of 1.10, a quick ratio of 0.46 and a debt-to-equity ratio of 1.26. Constellation Brands, Inc. has a 12-month low of $176.51 and a 12-month high of $274.87.

Constellation Brands (NYSE:STZ) last released its earnings results on Friday, January 10th. The company reported $3.25 earnings per share for the quarter, missing the consensus estimate of $3.33 by ($0.08). Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The company had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.53 billion. During the same period in the previous year, the firm posted $3.19 EPS. Constellation Brands’s revenue for the quarter was down .3% on a year-over-year basis. On average, equities research analysts anticipate that Constellation Brands, Inc. will post 13.52 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Friday, February 7th will be issued a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date is Friday, February 7th. Constellation Brands’s dividend payout ratio is presently 108.60%.

Insider Transactions at Constellation Brands

In other Constellation Brands news, Director William T. Giles acquired 1,000 shares of the firm’s stock in a transaction that occurred on Friday, January 17th. The stock was acquired at an average cost of $186.39 per share, with a total value of $186,390.00. Following the acquisition, the director now directly owns 1,463 shares of the company’s stock, valued at $272,688.57. This represents a 215.98 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William A. Newlands sold 7,426 shares of Constellation Brands stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $237.24, for a total value of $1,761,744.24. Following the sale, the chief executive officer now directly owns 7,274 shares in the company, valued at $1,725,683.76. The trade was a 50.52 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 69,172 shares of company stock worth $16,778,841. 12.19% of the stock is currently 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.