Simplicity Wealth LLC Acquires New Holdings in Constellation Brands, Inc. (NYSE:STZ)

Simplicity Wealth LLC bought a new position in shares of Constellation Brands, Inc. (NYSE:STZ) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 2,863 shares of the company’s stock, valued at approximately $778,000.

Other institutional investors have also recently added to or reduced their stakes in the company. BKM Wealth Management LLC bought a new stake in shares of Constellation Brands in the fourth quarter worth $28,000. Asset Dedication LLC increased its stake in shares of Constellation Brands by 3,833.3% in the third quarter. Asset Dedication LLC now owns 118 shares of the company’s stock valued at $30,000 after buying an additional 115 shares during the period. Kapitalo Investimentos Ltda acquired a new stake in shares of Constellation Brands in the fourth quarter valued at about $35,000. First Financial Corp IN bought a new position in shares of Constellation Brands during the first quarter worth about $35,000. Finally, Turtle Creek Wealth Advisors LLC acquired a new position in shares of Constellation Brands in the fourth quarter worth approximately $37,000. 77.34% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on STZ. Jefferies Financial Group increased their target price on shares of Constellation Brands from $292.00 to $314.00 and gave the company a “buy” rating in a research report on Friday, April 12th. Evercore ISI boosted their target price on shares of Constellation Brands from $300.00 to $310.00 and gave the company an “outperform” rating in a report on Friday, April 12th. Roth Mkm reiterated a “buy” rating and set a $305.00 price target on shares of Constellation Brands in a report on Friday, April 12th. HSBC boosted their price objective on Constellation Brands from $290.00 to $300.00 and gave the company a “buy” rating in a research note on Friday, April 12th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Constellation Brands from $256.00 to $262.00 and gave the stock a “hold” rating in a research note on Wednesday, April 10th. Three investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, Constellation Brands currently has a consensus rating of “Moderate Buy” and an average price target of $298.55.

Constellation Brands Stock Down 1.9 %

Shares of NYSE:STZ traded down $4.78 during mid-day trading on Monday, hitting $250.65. 850,852 shares of the company traded hands, compared to its average volume of 1,194,792. The stock has a 50-day moving average price of $262.11 and a two-hundred day moving average price of $250.68. Constellation Brands, Inc. has a 12-month low of $227.50 and a 12-month high of $274.87. The stock has a market cap of $45.86 billion, a P/E ratio of 26.72, a P/E/G ratio of 1.72 and a beta of 0.95. The company has a current ratio of 1.19, a quick ratio of 0.53 and a debt-to-equity ratio of 1.06.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings data on Thursday, April 11th. The company reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.10 by $0.16. Constellation Brands had a return on equity of 23.06% and a net margin of 16.13%. The business had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.09 billion. During the same period last year, the business earned $1.98 EPS. The business’s revenue was up 7.1% on a year-over-year basis. On average, equities research analysts forecast that Constellation Brands, Inc. will post 13.53 earnings per share for the current year.

Constellation Brands Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 17th. Shareholders of record on Friday, May 3rd were given a dividend of $1.01 per share. The ex-dividend date was Thursday, May 2nd. This represents a $4.04 annualized dividend and a dividend yield of 1.61%. This is a boost from Constellation Brands’s previous quarterly dividend of $0.89. Constellation Brands’s dividend payout ratio (DPR) is currently 43.07%.

Insider Transactions at Constellation Brands

In related news, EVP Michael Mcgrew sold 3,237 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $255.50, for a total transaction of $827,053.50. Following the completion of the sale, the executive vice president now directly owns 1,731 shares of the company’s stock, valued at $442,270.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO William A. Newlands sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $261.54, for a total transaction of $6,538,500.00. Following the completion of the sale, the chief executive officer now owns 14,700 shares in the company, valued at approximately $3,844,638. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Michael Mcgrew sold 3,237 shares of Constellation Brands stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $255.50, for a total transaction of $827,053.50. Following the completion of the sale, the executive vice president now directly owns 1,731 shares in the company, valued at approximately $442,270.50. The disclosure for this sale can be found here. Insiders have sold 48,031 shares of company stock worth $12,582,321 in the last 90 days. Insiders own 16.19% of the company’s stock.

Constellation Brands Company 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.