Providence Capital Advisors LLC Has $5.74 Million Stock Position in Constellation Brands, Inc. (NYSE:STZ)

Providence Capital Advisors LLC raised its position in Constellation Brands, Inc. (NYSE:STZ) by 39,878.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,986 shares of the company’s stock after buying an additional 25,921 shares during the period. Providence Capital Advisors LLC’s holdings in Constellation Brands were worth $5,743,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Allworth Financial LP raised its stake in shares of Constellation Brands by 0.8% during the 4th quarter. Allworth Financial LP now owns 7,357 shares of the company’s stock worth $1,626,000 after purchasing an additional 59 shares in the last quarter. BSW Wealth Partners increased its holdings in Constellation Brands by 4.2% during the fourth quarter. BSW Wealth Partners now owns 1,563 shares of the company’s stock worth $345,000 after buying an additional 63 shares during the last quarter. Philip James Wealth Mangement LLC raised its position in Constellation Brands by 8.0% during the fourth quarter. Philip James Wealth Mangement LLC now owns 923 shares of the company’s stock worth $204,000 after acquiring an additional 68 shares in the last quarter. Oak Asset Management LLC grew its position in shares of Constellation Brands by 0.4% in the 4th quarter. Oak Asset Management LLC now owns 17,611 shares of the company’s stock valued at $3,892,000 after acquiring an additional 71 shares during the period. Finally, Barden Capital Management Inc. increased its stake in shares of Constellation Brands by 1.3% during the 4th quarter. Barden Capital Management Inc. now owns 5,574 shares of the company’s stock worth $1,232,000 after purchasing an additional 72 shares during the last quarter. Institutional investors and hedge funds own 77.34% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on STZ shares. Needham & Company LLC cut their target price on shares of Constellation Brands from $240.00 to $215.00 and set a “buy” rating for the company in a research note on Thursday. Morgan Stanley downgraded Constellation Brands from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $220.00 to $202.00 in a research note on Thursday, February 27th. Argus cut Constellation Brands from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Wells Fargo & Company reduced their price objective on shares of Constellation Brands from $295.00 to $275.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Finally, Roth Capital dropped their price objective on shares of Constellation Brands from $298.00 to $284.00 and set a “buy” rating on the stock in a research report on Friday, January 17th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, Constellation Brands currently has a consensus rating of “Hold” and an average price target of $249.18.

Insider Activity at Constellation Brands

In related news, Director William T. Giles bought 1,000 shares of the firm’s stock in a transaction on Friday, January 17th. The shares were purchased at an average price of $186.39 per share, with a total value of $186,390.00. Following the completion of the purchase, the director now owns 1,463 shares in the company, valued at $272,688.57. This represents a 215.98 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 12.19% of the stock is currently owned by insiders.

Constellation Brands Stock Performance

NYSE STZ opened at $184.35 on Friday. The firm’s 50 day simple moving average is $177.20 and its 200 day simple moving average is $215.45. The firm has a market capitalization of $33.32 billion, a price-to-earnings ratio of 49.56, a P/E/G ratio of 1.52 and a beta of 1.75. The company has a current ratio of 1.10, a quick ratio of 0.46 and a debt-to-equity ratio of 1.26. Constellation Brands, Inc. has a 1 year low of $160.46 and a 1 year high of $274.87.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings results on Friday, January 10th. The company reported $3.25 EPS for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.08). Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The business had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.53 billion. During the same period last year, the firm posted $3.19 EPS. Constellation Brands’s quarterly revenue was down .3% on a year-over-year basis. As a group, research analysts expect that Constellation Brands, Inc. will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 7th were paid a $1.01 dividend. The ex-dividend date was Friday, February 7th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 2.19%. Constellation Brands’s payout ratio is currently 108.60%.

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.