Confluence Wealth Services Inc. Sells 88 Shares of Constellation Brands, Inc. (NYSE:STZ)

Confluence Wealth Services Inc. lessened its holdings in Constellation Brands, Inc. (NYSE:STZ) by 4.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,108 shares of the company’s stock after selling 88 shares during the quarter. Confluence Wealth Services Inc.’s holdings in Constellation Brands were worth $573,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. BKM Wealth Management LLC bought a new position in Constellation Brands in the fourth quarter valued at about $28,000. Asset Dedication LLC lifted its stake in Constellation Brands by 3,833.3% in the 3rd quarter. Asset Dedication LLC now owns 118 shares of the company’s stock valued at $30,000 after purchasing an additional 115 shares during the last quarter. First Financial Corp IN acquired a new stake in Constellation Brands in the first quarter valued at approximately $35,000. Kapitalo Investimentos Ltda acquired a new position in shares of Constellation Brands during the fourth quarter worth $35,000. Finally, Turtle Creek Wealth Advisors LLC bought a new position in shares of Constellation Brands in the 4th quarter valued at $37,000. Institutional investors own 77.34% of the company’s stock.

Wall Street Analyst Weigh In

STZ has been the subject of a number of recent research reports. Piper Sandler assumed coverage on Constellation Brands in a report on Friday, March 22nd. They issued an “overweight” rating and a $300.00 target price for the company. Jefferies Financial Group upped their price objective on Constellation Brands from $292.00 to $314.00 and gave the company a “buy” rating in a research note on Friday, April 12th. Bank of America lifted their target price on shares of Constellation Brands from $290.00 to $300.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Argus raised shares of Constellation Brands from a “hold” rating to a “buy” rating and set a $306.00 target price on the stock in a report on Monday, April 15th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Constellation Brands from $256.00 to $262.00 and gave the company a “hold” rating in a research note on Wednesday, April 10th. Three equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $298.55.

Insider Activity at Constellation Brands

In other news, EVP James A. Jr. Sabia sold 15,781 shares of the business’s stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $263.63, for a total transaction of $4,160,345.03. Following the completion of the sale, the executive vice president now owns 20,910 shares in the company, valued at $5,512,503.30. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CEO William A. Newlands sold 4,013 shares of the company’s stock in a transaction dated Friday, April 19th. The shares were sold at an average price of $263.25, for a total value of $1,056,422.25. Following the sale, the chief executive officer now owns 5,395 shares in the company, valued at approximately $1,420,233.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP James A. Jr. Sabia sold 15,781 shares of the firm’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $263.63, for a total transaction of $4,160,345.03. Following the completion of the transaction, the executive vice president now directly owns 20,910 shares in the company, valued at approximately $5,512,503.30. The disclosure for this sale can be found here. 16.19% of the stock is currently owned by corporate insiders.

Constellation Brands Trading Down 3.0 %

Shares of Constellation Brands stock traded down $7.73 on Tuesday, reaching $253.46. 1,757,367 shares of the company’s stock were exchanged, compared to its average volume of 1,252,538. The company has a market capitalization of $46.34 billion, a P/E ratio of 27.02, a price-to-earnings-growth ratio of 1.76 and a beta of 0.97. Constellation Brands, Inc. has a 52 week low of $221.81 and a 52 week high of $274.87. 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 firm’s 50-day moving average is $260.31 and its two-hundred day moving average is $248.46.

Constellation Brands (NYSE:STZ) last issued its earnings results on Thursday, April 11th. The company reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.10 by $0.16. The business had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.09 billion. Constellation Brands had a net margin of 16.13% and a return on equity of 23.06%. Constellation Brands’s revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.98 earnings per share. Sell-side analysts predict that Constellation Brands, Inc. will post 13.51 EPS for the current fiscal year.

Constellation Brands Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Friday, May 3rd will be paid a $1.01 dividend. The ex-dividend date is Thursday, May 2nd. This is an increase from Constellation Brands’s previous quarterly dividend of $0.89. This represents a $4.04 annualized dividend and a dividend yield of 1.59%. Constellation Brands’s dividend payout ratio (DPR) is currently 37.95%.

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.