Tranquility Partners LLC Sells 305 Shares of Constellation Brands, Inc. (NYSE:STZ)

Tranquility Partners LLC cut its stake in Constellation Brands, Inc. (NYSE:STZ) by 8.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,132 shares of the company’s stock after selling 305 shares during the period. Tranquility Partners LLC’s holdings in Constellation Brands were worth $757,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of STZ. Impact Partnership Wealth LLC increased its position in shares of Constellation Brands by 1,175.0% during the 3rd quarter. Impact Partnership Wealth LLC now owns 102 shares of the company’s stock worth $26,000 after purchasing an additional 94 shares in the last quarter. BKM Wealth Management LLC bought a new stake in Constellation Brands during the 4th quarter worth about $28,000. Asset Dedication LLC grew its holdings in Constellation Brands by 3,833.3% during the 3rd quarter. Asset Dedication LLC now owns 118 shares of the company’s stock worth $30,000 after acquiring an additional 115 shares during the last quarter. Resurgent Financial Advisors LLC bought a new stake in Constellation Brands during the 4th quarter worth about $34,000. Finally, Turtle Creek Wealth Advisors LLC bought a new stake in Constellation Brands during the 4th quarter worth about $37,000. 77.34% of the stock is owned by institutional investors.

Analysts Set New Price Targets

STZ has been the topic of a number of research analyst reports. Jefferies Financial Group increased their price objective on shares of Constellation Brands from $292.00 to $314.00 and gave the stock a “buy” rating in a report on Friday, April 12th. UBS Group raised their target price on shares of Constellation Brands from $312.00 to $320.00 and gave the company a “buy” rating in a research note on Friday, April 12th. Wedbush reaffirmed an “outperform” rating and issued a $300.00 target price on shares of Constellation Brands in a research note on Wednesday, April 10th. Roth Mkm reaffirmed a “buy” rating and issued a $305.00 target price on shares of Constellation Brands in a research note on Friday, April 12th. Finally, HSBC raised their target price on shares of Constellation Brands from $290.00 to $300.00 and gave the company a “buy” rating in a research note on Friday, April 12th. Three research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $298.55.

Insider Activity at Constellation Brands

In other news, EVP James A. Jr. Sabia sold 15,781 shares of the stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $263.63, for a total value of $4,160,345.03. Following the completion of the transaction, the executive vice president now owns 20,910 shares of the company’s stock, valued at $5,512,503.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 16.19% of the stock is owned by insiders.

Constellation Brands Stock Performance

STZ stock traded down $0.47 during midday trading on Wednesday, reaching $257.31. 1,530,438 shares of the company were exchanged, compared to its average volume of 1,275,867. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.19 and a quick ratio of 0.53. The business has a 50-day moving average price of $257.25 and a two-hundred day moving average price of $247.05. Constellation Brands, Inc. has a one year low of $221.81 and a one year high of $274.87. The firm has a market capitalization of $47.04 billion, a price-to-earnings ratio of 27.48, a price-to-earnings-growth ratio of 1.75 and a beta of 0.97.

Constellation Brands (NYSE:STZ) last announced its earnings results on Thursday, April 11th. The company reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.10 by $0.16. The company had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.09 billion. Constellation Brands had a net margin of 16.13% and a return on equity of 23.06%. Constellation Brands’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.98 earnings per share. Equities research analysts forecast that Constellation Brands, Inc. will post 13.5 EPS for the current year.

Constellation Brands Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Friday, May 3rd will be paid a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date is Thursday, May 2nd. This is an increase from Constellation Brands’s previous quarterly dividend of $0.89. Constellation Brands’s payout ratio is 37.95%.

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 Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Victoria, Vicky Chamoy, and Pacifico brands.