Pitti Group Wealth Management LLC Acquires 360 Shares of Constellation Brands, Inc. (NYSE:STZ)

Pitti Group Wealth Management LLC increased its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 41.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,225 shares of the company’s stock after acquiring an additional 360 shares during the quarter. Pitti Group Wealth Management LLC’s holdings in Constellation Brands were worth $271,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. State Street Corp lifted its holdings in Constellation Brands by 6.0% during the third quarter. State Street Corp now owns 7,144,428 shares of the company’s stock worth $1,841,048,000 after acquiring an additional 402,211 shares during the period. Janus Henderson Group PLC lifted its holdings in Constellation Brands by 1.2% during the third quarter. Janus Henderson Group PLC now owns 1,853,081 shares of the company’s stock worth $477,515,000 after acquiring an additional 21,454 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Constellation Brands by 2.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,782,964 shares of the company’s stock worth $394,035,000 after acquiring an additional 38,786 shares during the period. Van ECK Associates Corp lifted its holdings in Constellation Brands by 1,844.7% during the fourth quarter. Van ECK Associates Corp now owns 924,274 shares of the company’s stock worth $204,265,000 after acquiring an additional 876,745 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in Constellation Brands during the fourth quarter worth $105,766,000. 77.34% of the stock is currently owned by institutional investors.

Insider Transactions at Constellation Brands

In other news, Director William T. Giles acquired 1,000 shares of the business’s stock in a transaction dated Friday, January 17th. The stock was purchased at an average cost of $186.39 per share, for a total transaction of $186,390.00. Following the acquisition, the director now owns 1,463 shares of the company’s stock, valued at $272,688.57. This trade represents a 215.98 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 12.19% of the company’s stock.

Constellation Brands Price Performance

Constellation Brands stock opened at $181.46 on Monday. Constellation Brands, Inc. has a 52 week low of $160.46 and a 52 week high of $274.87. The business has a 50-day simple moving average of $180.58 and a 200 day simple moving average of $219.08. The company has a quick ratio of 0.46, a current ratio of 1.10 and a debt-to-equity ratio of 1.26. The stock has a market cap of $32.79 billion, a price-to-earnings ratio of 48.78, a PEG ratio of 1.52 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last posted its 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 26.55% and a net margin of 6.27%. The business had revenue of $2.46 billion for the quarter, compared to analysts’ expectations of $2.53 billion. During the same quarter in the previous year, the firm earned $3.19 earnings per share. Constellation Brands’s quarterly revenue was down .3% compared to the same quarter last year. On average, research analysts forecast that Constellation Brands, Inc. will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 7th were issued a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date was Friday, February 7th. Constellation Brands’s payout ratio is currently 108.60%.

Analysts Set New Price Targets

STZ has been the topic of several research reports. TD Cowen lowered their target price on Constellation Brands from $270.00 to $260.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Evercore ISI lowered their target price on Constellation Brands from $300.00 to $250.00 and set an “outperform” rating on the stock in a research note on Monday, January 13th. Wells Fargo & Company lowered their target price on Constellation Brands from $295.00 to $275.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. BNP Paribas initiated coverage on Constellation Brands in a research note on Monday, November 25th. They issued a “neutral” rating and a $261.00 target price on the stock. Finally, Truist Financial lowered their target price on Constellation Brands from $255.00 to $190.00 and set a “hold” rating on the stock in a research note on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $252.81.

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.