Naples Money Management LLC Makes New Investment in Constellation Brands, Inc. (NYSE:STZ)

Naples Money Management LLC bought a new position in shares of Constellation Brands, Inc. (NYSE:STZ) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 343 shares of the company’s stock, valued at approximately $83,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in STZ. Impact Partnership Wealth LLC grew its holdings in shares of Constellation Brands by 1,175.0% during the third quarter. Impact Partnership Wealth LLC now owns 102 shares of the company’s stock worth $26,000 after buying an additional 94 shares in the last quarter. BKM Wealth Management LLC purchased a new stake in shares of Constellation Brands during the fourth quarter worth about $28,000. Asset Dedication LLC grew its holdings in shares of Constellation Brands by 3,833.3% during the third quarter. Asset Dedication LLC now owns 118 shares of the company’s stock worth $30,000 after buying an additional 115 shares in the last quarter. Resurgent Financial Advisors LLC purchased a new stake in shares of Constellation Brands during the fourth quarter worth about $34,000. Finally, Turtle Creek Wealth Advisors LLC purchased a new stake in Constellation Brands in the fourth quarter valued at approximately $37,000. Institutional investors and hedge funds own 77.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Jefferies Financial Group boosted their target price on shares of Constellation Brands from $292.00 to $314.00 and gave the company a “buy” rating in a report on Friday, April 12th. UBS Group boosted their target price on shares of Constellation Brands from $312.00 to $320.00 and gave the company a “buy” rating in a report on Friday, April 12th. Royal Bank of Canada boosted their target price on shares of Constellation Brands from $295.00 to $308.00 and gave the company an “outperform” rating in a report on Friday, April 12th. BMO Capital Markets boosted their target price on shares of Constellation Brands from $290.00 to $315.00 and gave the company an “outperform” rating in a report on Friday, April 12th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Constellation Brands from $256.00 to $262.00 and gave the company a “hold” rating in a report on Wednesday, April 10th. Three investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $298.55.

Constellation Brands Stock Up 0.8 %

Shares of NYSE STZ traded up $2.02 during trading on Friday, reaching $260.70. 1,506,594 shares of the stock were exchanged, compared to its average volume of 1,277,388. The business’s 50-day moving average price is $257.82 and its 200 day moving average price is $247.21. Constellation Brands, Inc. has a twelve month low of $221.81 and a twelve month high of $274.87. The company has a quick ratio of 0.53, a current ratio of 1.19 and a debt-to-equity ratio of 1.06. The company has a market capitalization of $47.66 billion, a price-to-earnings ratio of 27.79, a price-to-earnings-growth ratio of 1.74 and a beta of 0.97.

Constellation Brands (NYSE:STZ) last posted its earnings results on Thursday, April 11th. The company reported $2.26 EPS for the quarter, topping analysts’ consensus estimates of $2.10 by $0.16. Constellation Brands had a net margin of 16.13% and a return on equity of 23.06%. The business had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.09 billion. During the same period in the previous year, the company posted $1.98 earnings per share. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. As a group, equities analysts forecast that Constellation Brands, Inc. will post 13.51 EPS for the current fiscal 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 issued a $1.01 dividend. The ex-dividend date of this dividend is Thursday, May 2nd. This is a boost from Constellation Brands’s previous quarterly dividend of $0.89. This represents a $4.04 annualized dividend and a yield of 1.55%. Constellation Brands’s dividend payout ratio is currently 37.95%.

Insider Activity at Constellation Brands

In related news, EVP James A. Jr. Sabia sold 15,781 shares of the company’s stock in a transaction on 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 sale, the executive vice president now directly owns 20,910 shares of the company’s stock, valued at $5,512,503.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 16.19% of the stock is currently owned by corporate insiders.

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