Northwestern Mutual Wealth Management Co. Decreases Position in Constellation Brands Inc $STZ

Northwestern Mutual Wealth Management Co. trimmed its holdings in Constellation Brands Inc (NYSE:STZ) by 31.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 12,619 shares of the company’s stock after selling 5,875 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Constellation Brands were worth $1,741,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Choreo LLC raised its holdings in shares of Constellation Brands by 2.1% in the fourth quarter. Choreo LLC now owns 3,116 shares of the company’s stock worth $437,000 after buying an additional 63 shares during the period. Clearstead Trust LLC raised its holdings in shares of Constellation Brands by 14.2% in the fourth quarter. Clearstead Trust LLC now owns 548 shares of the company’s stock worth $76,000 after buying an additional 68 shares during the period. Dynamic Advisor Solutions LLC raised its holdings in shares of Constellation Brands by 2.2% in the fourth quarter. Dynamic Advisor Solutions LLC now owns 3,507 shares of the company’s stock worth $484,000 after buying an additional 76 shares during the period. Larson Financial Group LLC raised its holdings in shares of Constellation Brands by 2.6% in the fourth quarter. Larson Financial Group LLC now owns 3,610 shares of the company’s stock worth $498,000 after buying an additional 93 shares during the period. Finally, Sigma Planning Corp raised its holdings in shares of Constellation Brands by 4.0% in the fourth quarter. Sigma Planning Corp now owns 2,458 shares of the company’s stock worth $325,000 after buying an additional 95 shares during the period. 77.34% of the stock is currently owned by hedge funds and other institutional investors.

Constellation Brands Stock Up 2.4%

Shares of NYSE:STZ opened at $141.11 on Friday. Constellation Brands Inc has a 52-week low of $126.45 and a 52-week high of $178.13. The stock has a market cap of $24.30 billion, a P/E ratio of 14.71, a price-to-earnings-growth ratio of 3.26 and a beta of 0.39. The business’s 50 day moving average is $150.69 and its 200 day moving average is $149.41. The company has a quick ratio of 0.55, a current ratio of 1.08 and a debt-to-equity ratio of 1.16.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings data on Wednesday, April 8th. The company reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.71 by $0.19. Constellation Brands had a return on equity of 26.18% and a net margin of 17.29%.The company had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $1.84 billion. During the same quarter in the prior year, the firm earned $2.63 earnings per share. Constellation Brands’s revenue was down 11.3% compared to the same quarter last year. Sell-side analysts predict that Constellation Brands Inc will post 11.87 EPS for the current year.

Constellation Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Wednesday, April 29th were paid a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 2.9%. This is an increase from Constellation Brands’s previous quarterly dividend of $1.02. The ex-dividend date of this dividend was Wednesday, April 29th. Constellation Brands’s payout ratio is currently 42.96%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on STZ. Roth Mkm reiterated a “buy” rating on shares of Constellation Brands in a report on Thursday, April 9th. Bank of America reduced their price target on Constellation Brands from $154.00 to $152.00 and set an “underperform” rating on the stock in a report on Thursday, May 28th. Piper Sandler increased their price target on Constellation Brands from $146.00 to $160.00 and gave the stock a “neutral” rating in a report on Friday, April 10th. Morgan Stanley increased their price target on Constellation Brands from $160.00 to $183.00 and gave the stock an “equal weight” rating in a report on Friday, April 10th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Constellation Brands from $154.00 to $155.00 and gave the stock a “hold” rating in a report on Friday, April 10th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $175.26.

Insider Transactions at Constellation Brands

In related news, EVP James O. Bourdeau sold 4,407 shares of the stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $143.24, for a total value of $631,258.68. Following the transaction, the executive vice president owned 9,109 shares of the company’s stock, valued at $1,304,773.16. This represents a 32.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 12.45% of the stock is currently owned by company insiders.

About Constellation Brands

Constellation Brands, Inc is a leading producer and marketer of beer, wine and spirits, with operations spanning production, importation, marketing and distribution. The company’s beverage portfolio includes a range of premium and mainstream wines and spirits alongside major imported beer brands; in the U.S. market Constellation is widely known for its role in bringing Mexican imports such as Corona and Modelo to American consumers. Constellation supplies retail, on‑premise and foodservice channels and supports its brands with national sales and marketing platforms and supply‑chain capabilities.

The company traces its roots to the Canandaigua Wine Company, founded by Marvin Sands in 1945, and evolved through organic growth and acquisition into a diversified beverage company.