Kingsview Wealth Management LLC Reduces Holdings in Constellation Brands, Inc. (NYSE:STZ)

Kingsview Wealth Management LLC cut its position in Constellation Brands, Inc. (NYSE:STZ) by 1.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,298 shares of the company’s stock after selling 99 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Constellation Brands were worth $1,711,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in STZ. Norges Bank acquired a new position in Constellation Brands in the fourth quarter valued at approximately $443,844,000. Boston Partners purchased a new position in shares of Constellation Brands in the 4th quarter valued at $156,358,000. International Assets Investment Management LLC raised its stake in Constellation Brands by 24,922.5% during the 4th quarter. International Assets Investment Management LLC now owns 567,010 shares of the company’s stock worth $137,075,000 after acquiring an additional 564,744 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Constellation Brands by 38.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,403,495 shares of the company’s stock valued at $335,402,000 after acquiring an additional 388,390 shares during the last quarter. Finally, Palestra Capital Management LLC acquired a new position in Constellation Brands in the fourth quarter valued at $83,195,000. Institutional investors and hedge funds own 77.34% of the company’s stock.

Insider Activity at Constellation Brands

In other Constellation Brands news, EVP Kaneenat Kristann Carey sold 977 shares of the company’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $261.00, for a total value of $254,997.00. Following the transaction, the executive vice president now directly owns 2,706 shares in the company, valued at approximately $706,266. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO William A. Newlands sold 25,000 shares of Constellation Brands stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $261.54, for a total transaction of $6,538,500.00. Following the sale, the chief executive officer now owns 14,700 shares in the company, valued at $3,844,638. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kaneenat Kristann Carey sold 977 shares of the company’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $261.00, for a total transaction of $254,997.00. Following the completion of the transaction, the executive vice president now owns 2,706 shares of the company’s stock, valued at $706,266. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,214 shares of company stock valued at $7,620,551. 12.19% of the stock is owned by corporate insiders.

Constellation Brands Price Performance

STZ traded down $2.81 during trading on Friday, reaching $245.45. 774,879 shares of the stock were exchanged, compared to its average volume of 1,211,885. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.19 and a quick ratio of 0.53. The company has a market capitalization of $44.73 billion, a price-to-earnings ratio of 18.30, a P/E/G ratio of 1.64 and a beta of 0.87. Constellation Brands, Inc. has a 1 year low of $227.50 and a 1 year high of $274.87. The business’s 50 day moving average price is $253.93 and its two-hundred day moving average price is $254.96.

Constellation Brands (NYSE:STZ) last released its quarterly earnings data on Wednesday, July 3rd. The company reported $3.57 EPS for the quarter, topping the consensus estimate of $3.46 by $0.11. Constellation Brands had a net margin of 22.70% and a return on equity of 23.72%. The business had revenue of $2.66 billion for the quarter, compared to analyst estimates of $2.67 billion. During the same period in the previous year, the firm earned $2.91 EPS. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Constellation Brands, Inc. will post 13.57 earnings per share for the current year.

Constellation Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Wednesday, August 14th will be given a dividend of $1.01 per share. The ex-dividend date is Wednesday, August 14th. This represents a $4.04 annualized dividend and a dividend yield of 1.65%. Constellation Brands’s dividend payout ratio is currently 30.10%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on STZ shares. Argus upgraded shares of Constellation Brands from a “hold” rating to a “buy” rating and set a $306.00 target price on the stock in a research report on Monday, April 15th. Wedbush restated an “outperform” rating and issued a $300.00 price objective on shares of Constellation Brands in a research note on Wednesday, April 10th. Truist Financial reiterated a “hold” rating and set a $265.00 target price on shares of Constellation Brands in a research note on Wednesday, July 3rd. Piper Sandler began coverage on Constellation Brands in a report on Friday, March 22nd. They set an “overweight” rating and a $300.00 price target on the stock. Finally, Jefferies Financial Group upped their price objective on Constellation Brands from $310.00 to $311.00 and gave the company a “buy” rating in a research note on Friday, July 5th. Three investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $300.53.

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.