Constellation Brands, Inc. (NYSE:STZ) Shares Sold by TBH Global Asset Management LLC

TBH Global Asset Management LLC reduced its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 7.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,047 shares of the company’s stock after selling 835 shares during the period. TBH Global Asset Management LLC’s holdings in Constellation Brands were worth $2,429,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. BKM Wealth Management LLC acquired a new stake in Constellation Brands in the fourth quarter worth $28,000. Asset Dedication LLC increased its position in Constellation Brands by 3,833.3% in the third quarter. Asset Dedication LLC now owns 118 shares of the company’s stock worth $30,000 after buying an additional 115 shares during the period. Turtle Creek Wealth Advisors LLC acquired a new stake in Constellation Brands in the fourth quarter worth $37,000. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Constellation Brands in the third quarter worth $41,000. Finally, Exchange Traded Concepts LLC acquired a new stake in Constellation Brands in the fourth quarter worth $45,000. 77.34% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Constellation Brands

In other news, CEO William A. Newlands sold 4,013 shares of the stock in a transaction dated Friday, April 19th. The stock was sold at an average price of $263.25, for a total transaction of $1,056,422.25. Following the transaction, the chief executive officer now owns 5,395 shares of the company’s stock, valued at approximately $1,420,233.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Constellation Brands news, CEO William A. Newlands sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $261.54, for a total value of $6,538,500.00. Following the sale, the chief executive officer now owns 14,700 shares of the company’s stock, valued at approximately $3,844,638. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William A. Newlands sold 4,013 shares of the firm’s stock in a transaction that occurred on Friday, April 19th. The shares were sold at an average price of $263.25, for a total value of $1,056,422.25. Following the completion of the sale, the chief executive officer now directly owns 5,395 shares in the company, valued at approximately $1,420,233.75. The disclosure for this sale can be found here. Insiders sold 48,031 shares of company stock valued at $12,582,321 in the last three months. Corporate insiders own 16.19% of the company’s stock.

Analysts Set New Price Targets

STZ has been the subject of several recent analyst reports. Piper Sandler initiated coverage on Constellation Brands in a research note on Friday, March 22nd. They issued an “overweight” rating and a $300.00 price target for the company. Argus raised Constellation Brands from a “hold” rating to a “buy” rating and set a $306.00 price target for the company in a research note on Monday, April 15th. Royal Bank of Canada increased their price target on Constellation Brands from $295.00 to $308.00 and gave the stock an “outperform” rating in a research note on Friday, April 12th. BMO Capital Markets increased their price target on Constellation Brands from $290.00 to $315.00 and gave the stock an “outperform” rating in a research note on Friday, April 12th. Finally, Bank of America increased their price target on Constellation Brands from $290.00 to $300.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Three equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, Constellation Brands has a consensus rating of “Moderate Buy” and a consensus target price of $298.55.

Constellation Brands Trading Up 1.4 %

Shares of NYSE:STZ traded up $3.39 during midday trading on Friday, reaching $248.51. The company had a trading volume of 1,502,440 shares, compared to its average volume of 1,188,953. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.53 and a current ratio of 1.19. Constellation Brands, Inc. has a 1-year low of $227.50 and a 1-year high of $274.87. The firm has a market cap of $45.47 billion, a price-to-earnings ratio of 26.13, a price-to-earnings-growth ratio of 1.68 and a beta of 0.95. The company has a fifty day simple moving average of $261.29 and a two-hundred day simple moving average of $250.70.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings data on Thursday, April 11th. The company reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.10 by $0.16. The firm had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.09 billion. Constellation Brands had a return on equity of 23.06% and a net margin of 16.13%. The business’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.98 EPS. Research analysts predict that Constellation Brands, Inc. will post 13.53 earnings per share for the current year.

Constellation Brands Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 17th. Stockholders of record on Friday, May 3rd were paid a dividend of $1.01 per share. The ex-dividend date of this dividend was Thursday, May 2nd. This is an increase from Constellation Brands’s previous quarterly dividend of $0.89. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.63%. Constellation Brands’s dividend payout ratio (DPR) is 43.07%.

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.