Alpha Omega Wealth Management LLC Reduces Stock Position in Constellation Brands, Inc. (NYSE:STZ)

Alpha Omega Wealth Management LLC decreased its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 2.1% during the second quarter, Holdings Channel reports. The firm owned 17,060 shares of the company’s stock after selling 371 shares during the quarter. Alpha Omega Wealth Management LLC’s holdings in Constellation Brands were worth $4,389,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. New Millennium Group LLC purchased a new stake in Constellation Brands during the 2nd quarter valued at $25,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Constellation Brands during the second quarter valued at $29,000. Horizon Bancorp Inc. IN bought a new position in Constellation Brands in the second quarter valued at about $32,000. YHB Investment Advisors Inc. bought a new stake in shares of Constellation Brands during the 1st quarter valued at about $35,000. Finally, Kapitalo Investimentos Ltda purchased a new stake in shares of Constellation Brands during the 4th quarter valued at about $35,000. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Constellation Brands Price Performance

NYSE STZ traded down $2.07 on Monday, reaching $243.11. The company had a trading volume of 868,946 shares, compared to its average volume of 1,173,811. The firm’s 50 day moving average price is $249.62 and its 200 day moving average price is $253.84. Constellation Brands, Inc. has a 12 month low of $227.50 and a 12 month high of $274.87. The stock has a market capitalization of $44.48 billion, a PE ratio of 18.12, a price-to-earnings-growth ratio of 1.62 and a beta of 1.75. The company has a quick ratio of 0.53, a current ratio of 1.19 and a debt-to-equity ratio of 1.06.

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

Constellation Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Wednesday, August 14th were issued a dividend of $1.01 per share. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $4.04 annualized dividend and a dividend yield of 1.66%. Constellation Brands’s dividend payout ratio (DPR) is 30.10%.

Insider Activity

In related news, 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 sale, the executive vice president now owns 2,706 shares of the company’s stock, valued at $706,266. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CFO Garth Hankinson sold 13,583 shares of Constellation Brands stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $240.00, for a total value of $3,259,920.00. Following the completion of the transaction, the chief financial officer now owns 11,702 shares in the company, valued at approximately $2,808,480. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Kaneenat Kristann Carey sold 977 shares of the stock in a transaction on Friday, July 12th. The shares were sold at an average price of $261.00, for a total value of $254,997.00. Following the sale, the executive vice president now owns 2,706 shares in the company, valued at approximately $706,266. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,414 shares of company stock worth $3,982,922. 12.19% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. UBS Group boosted their target price on shares of Constellation Brands from $315.00 to $320.00 and gave the company a “buy” rating in a research report on Friday, July 5th. Morgan Stanley cut their price objective on shares of Constellation Brands from $305.00 to $280.00 and set an “overweight” rating for the company in a research report on Monday. Truist Financial reiterated a “hold” rating and set a $265.00 target price on shares of Constellation Brands in a research report on Wednesday, July 3rd. Barclays boosted their price target on Constellation Brands from $287.00 to $295.00 and gave the company an “overweight” rating in a report on Friday, July 19th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $308.00 price objective on shares of Constellation Brands in a research note on Wednesday, July 31st. Three analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, Constellation Brands has a consensus rating of “Moderate Buy” and an average price target of $299.21.

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.