HB Wealth Management LLC Has $686,000 Holdings in Constellation Brands, Inc. (NYSE:STZ)

HB Wealth Management LLC raised its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 52.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,665 shares of the company’s stock after acquiring an additional 918 shares during the quarter. HB Wealth Management LLC’s holdings in Constellation Brands were worth $686,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in STZ. International Assets Investment Management LLC increased its stake in Constellation Brands by 3.5% in the 4th quarter. International Assets Investment Management LLC now owns 2,345 shares of the company’s stock valued at $567,000 after buying an additional 79 shares during the period. Atria Wealth Solutions Inc. increased its stake in shares of Constellation Brands by 12.7% in the fourth quarter. Atria Wealth Solutions Inc. now owns 7,522 shares of the company’s stock worth $1,818,000 after acquiring an additional 846 shares during the last quarter. Choreo LLC acquired a new position in shares of Constellation Brands in the fourth quarter worth $583,000. Kestra Private Wealth Services LLC raised its holdings in shares of Constellation Brands by 7.1% during the fourth quarter. Kestra Private Wealth Services LLC now owns 18,434 shares of the company’s stock worth $4,456,000 after acquiring an additional 1,216 shares in the last quarter. Finally, Penobscot Investment Management Company Inc. boosted its position in Constellation Brands by 22.6% during the fourth quarter. Penobscot Investment Management Company Inc. now owns 3,039 shares of the company’s stock valued at $735,000 after purchasing an additional 560 shares during the last quarter. Institutional investors and hedge funds own 77.34% of the company’s stock.

Insider Activity at Constellation Brands

In other news, EVP Kaneenat Kristann Carey sold 977 shares of Constellation Brands stock in a transaction that occurred on Friday, July 12th. The stock was 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 approximately $706,266. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Constellation Brands news, Director Daniel J. Mccarthy sold 1,854 shares of the firm’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $252.43, for a total transaction of $468,005.22. Following the completion of the transaction, the director now owns 3,232 shares in the company, valued at $815,853.76. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Kaneenat Kristann Carey sold 977 shares of the stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $261.00, for a total value of $254,997.00. Following the completion of the transaction, the executive vice president now directly owns 2,706 shares of the company’s stock, valued at $706,266. The disclosure for this sale can be found here. Insiders have sold 16,414 shares of company stock worth $3,982,922 over the last three months. Company insiders own 12.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on STZ. Barclays boosted their target price on Constellation Brands from $287.00 to $295.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. JPMorgan Chase & Co. increased their price objective on Constellation Brands from $291.00 to $320.00 and gave the stock an “overweight” rating in a report on Friday, July 5th. Morgan Stanley reduced their target price on shares of Constellation Brands from $305.00 to $280.00 and set an “overweight” rating for the company in a research note on Monday. Royal Bank of Canada reissued an “outperform” rating and issued a $308.00 target price on shares of Constellation Brands in a research report on Wednesday, July 31st. Finally, UBS Group raised their price target on shares of Constellation Brands from $315.00 to $320.00 and gave the company a “buy” rating in a report on Friday, July 5th. Three equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $299.21.

Constellation Brands Stock Performance

Shares of STZ traded down $0.45 during mid-day trading on Thursday, hitting $239.92. The company’s stock had a trading volume of 143,046 shares, compared to its average volume of 1,166,495. The stock’s 50-day moving average is $249.15 and its two-hundred day moving average is $253.82. The firm has a market capitalization of $43.90 billion, a PE ratio of 17.91, a price-to-earnings-growth ratio of 1.62 and a beta of 1.75. 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 one year low of $227.50 and a one year high of $274.87.

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

Constellation Brands Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Wednesday, August 14th were paid a dividend of $1.01 per share. The ex-dividend date was Wednesday, August 14th. This represents a $4.04 annualized dividend and a yield of 1.68%. Constellation Brands’s dividend payout ratio is 30.10%.

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.