Montag A & Associates Inc. Lowers Holdings in Constellation Brands, Inc. (NYSE:STZ)

Montag A & Associates Inc. trimmed its position in Constellation Brands, Inc. (NYSE:STZ) by 53.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,169 shares of the company’s stock after selling 3,577 shares during the quarter. Montag A & Associates Inc.’s holdings in Constellation Brands were worth $861,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Perigon Wealth Management LLC boosted its stake in shares of Constellation Brands by 46.0% in the fourth quarter. Perigon Wealth Management LLC now owns 6,012 shares of the company’s stock worth $1,453,000 after buying an additional 1,893 shares during the last quarter. Stifel Financial Corp raised its holdings in shares of Constellation Brands by 3.2% during the fourth quarter. Stifel Financial Corp now owns 192,585 shares of the company’s stock valued at $46,570,000 after acquiring an additional 5,951 shares during the last quarter. CoreCap Advisors LLC increased its holdings in shares of Constellation Brands by 35.8% in the fourth quarter. CoreCap Advisors LLC now owns 2,002 shares of the company’s stock valued at $484,000 after purchasing an additional 528 shares during the last quarter. Ascent Wealth Partners LLC acquired a new stake in shares of Constellation Brands in the fourth quarter valued at approximately $962,000. Finally, KBC Group NV increased its holdings in shares of Constellation Brands by 100.4% in the fourth quarter. KBC Group NV now owns 250,945 shares of the company’s stock valued at $60,666,000 after purchasing an additional 125,730 shares during the last quarter. 77.34% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on STZ shares. Piper Sandler initiated coverage on Constellation Brands in a research note on Friday, March 22nd. They set an “overweight” rating and a $300.00 target price for the company. BMO Capital Markets reaffirmed an “outperform” rating and set a $315.00 price target on shares of Constellation Brands in a report on Friday, July 5th. Evercore ISI lifted their price target on Constellation Brands from $300.00 to $310.00 and gave the stock an “outperform” rating in a report on Friday, April 12th. UBS Group lifted their target price on Constellation Brands from $315.00 to $320.00 and gave the stock a “buy” rating in a research report on Friday, July 5th. Finally, HSBC boosted their price target on Constellation Brands from $290.00 to $300.00 and gave the company a “buy” rating in a research report on Friday, April 12th. Three analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $300.11.

Insider Buying and Selling at Constellation Brands

In other Constellation Brands news, EVP Michael Mcgrew sold 3,237 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $255.50, for a total value of $827,053.50. Following the completion of the transaction, the executive vice president now directly owns 1,731 shares of the company’s stock, valued at approximately $442,270.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, EVP Michael Mcgrew sold 3,237 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $255.50, for a total transaction of $827,053.50. Following the transaction, the executive vice president now owns 1,731 shares of the company’s stock, valued at $442,270.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William A. Newlands sold 25,000 shares of the stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $261.54, for a total transaction of $6,538,500.00. Following the transaction, the chief executive officer now directly owns 14,700 shares in the company, valued at approximately $3,844,638. The disclosure for this sale can be found here. Insiders sold a total of 32,250 shares of company stock valued at $8,421,976 in the last ninety days. Insiders own 12.19% of the company’s stock.

Constellation Brands Price Performance

STZ stock traded down $5.56 on Monday, reaching $254.26. The company had a trading volume of 909,479 shares, compared to its average volume of 1,206,513. Constellation Brands, Inc. has a 1 year low of $227.50 and a 1 year high of $274.87. The company has a market cap of $46.33 billion, a P/E ratio of 19.45, a PEG ratio of 1.71 and a beta of 0.87. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.53 and a current ratio of 1.19. The company’s fifty day moving average is $254.74 and its 200 day moving average is $254.95.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Wednesday, July 3rd. The company reported $3.57 earnings per share (EPS) for the quarter, beating 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 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 firm’s quarterly revenue was up 5.8% compared to the same quarter last year. On average, research analysts forecast that Constellation Brands, Inc. will post 13.57 earnings per share for the current year.

Constellation Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Wednesday, August 14th will be given a $1.01 dividend. The ex-dividend date is Wednesday, August 14th. This represents a $4.04 dividend on an annualized basis and a yield of 1.59%. Constellation Brands’s payout ratio is currently 30.10%.

About Constellation Brands

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.