Daymark Wealth Partners LLC Has $1.17 Million Position in Constellation Brands, Inc. (NYSE:STZ)

Daymark Wealth Partners LLC lessened its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 4.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 5,275 shares of the company’s stock after selling 261 shares during the quarter. Daymark Wealth Partners LLC’s holdings in Constellation Brands were worth $1,166,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of STZ. Fort Washington Investment Advisors Inc. OH boosted its holdings in shares of Constellation Brands by 9.9% during the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 214,264 shares of the company’s stock worth $47,352,000 after acquiring an additional 19,266 shares during the period. LifePlan Financial LLC boosted its stake in Constellation Brands by 152.4% in the 4th quarter. LifePlan Financial LLC now owns 2,958 shares of the company’s stock valued at $654,000 after purchasing an additional 1,786 shares during the period. Ballentine Partners LLC boosted its stake in Constellation Brands by 12.8% in the 4th quarter. Ballentine Partners LLC now owns 2,891 shares of the company’s stock valued at $639,000 after purchasing an additional 327 shares during the period. MassMutual Private Wealth & Trust FSB grew its holdings in Constellation Brands by 0.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 52,787 shares of the company’s stock valued at $11,666,000 after buying an additional 198 shares in the last quarter. Finally, City Holding Co. increased its position in Constellation Brands by 5.6% during the 4th quarter. City Holding Co. now owns 13,628 shares of the company’s stock worth $3,012,000 after buying an additional 718 shares during the period. Institutional investors and hedge funds own 77.34% of the company’s stock.

Constellation Brands Stock Down 2.2 %

Shares of STZ opened at $178.99 on Thursday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.46 and a current ratio of 1.10. Constellation Brands, Inc. has a 52 week low of $176.51 and a 52 week high of $274.87. The stock has a market capitalization of $32.35 billion, a price-to-earnings ratio of 48.12, a PEG ratio of 1.62 and a beta of 0.91. The stock has a fifty day moving average of $224.60 and a 200-day moving average of $237.74.

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). The firm had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.53 billion. Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. Constellation Brands’s revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.19 earnings per share. As a group, sell-side analysts anticipate that Constellation Brands, Inc. will post 13.52 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Friday, February 7th will be issued a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date is Friday, February 7th. Constellation Brands’s payout ratio is 108.60%.

Insider Buying and Selling at Constellation Brands

In other news, CEO William A. Newlands sold 7,426 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $237.24, for a total transaction of $1,761,744.24. Following the completion of the transaction, the chief executive officer now directly owns 7,274 shares in the company, valued at $1,725,683.76. This trade represents a 50.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP James A. Jr. Sabia sold 36,086 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $242.99, for a total value of $8,768,537.14. Following the completion of the sale, the executive vice president now owns 16,042 shares in the company, valued at $3,898,045.58. The trade was a 69.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 69,172 shares of company stock worth $16,778,841. 12.19% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Roth Mkm reissued a “buy” rating and issued a $298.00 target price on shares of Constellation Brands in a research report on Friday, October 4th. Jefferies Financial Group restated a “hold” rating and set a $201.00 target price (down previously from $310.00) on shares of Constellation Brands in a research report on Monday, January 13th. Argus cut shares of Constellation Brands from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Morgan Stanley cut their price target on Constellation Brands from $280.00 to $220.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. Finally, Truist Financial lowered their price objective 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, eight have assigned a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $259.05.

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.