Naviter Wealth LLC Takes $204,000 Position in Constellation Brands, Inc. (NYSE:STZ)

Naviter Wealth LLC acquired a new position in shares of Constellation Brands, Inc. (NYSE:STZ) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 751 shares of the company’s stock, valued at approximately $204,000.

Several other institutional investors have also made changes to their positions in the business. BKM Wealth Management LLC bought a new stake in shares of Constellation Brands in the 4th quarter worth about $28,000. Kapitalo Investimentos Ltda bought a new position in shares of Constellation Brands in the fourth quarter valued at approximately $35,000. First Financial Corp IN acquired a new position in shares of Constellation Brands in the 1st quarter worth approximately $35,000. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Constellation Brands in the 4th quarter worth approximately $37,000. Finally, Exchange Traded Concepts LLC bought a new stake in Constellation Brands during the 4th quarter worth approximately $45,000. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Constellation Brands Stock Performance

Constellation Brands stock traded up $2.65 during mid-day trading on Tuesday, hitting $258.94. 1,862,665 shares of the company’s stock traded hands, compared to its average volume of 1,193,370. The firm has a 50 day simple moving average of $255.27 and a two-hundred day simple moving average of $253.86. 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 stock has a market cap of $47.38 billion, a price-to-earnings ratio of 27.44, a P/E/G ratio of 1.71 and a beta of 0.87. Constellation Brands, Inc. has a fifty-two week low of $227.50 and a fifty-two week high of $274.87.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings data on Thursday, April 11th. The company reported $2.26 earnings per share for the quarter, topping 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 firm had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.09 billion. During the same quarter last year, the business earned $1.98 EPS. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. On average, research analysts expect that Constellation Brands, Inc. will post 13.67 EPS for the current fiscal year.

Constellation Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 17th. Investors of record on Friday, May 3rd were paid a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a yield of 1.56%. This is a boost from Constellation Brands’s previous quarterly dividend of $0.89. The ex-dividend date of this dividend was Thursday, May 2nd. Constellation Brands’s dividend payout ratio (DPR) is 43.07%.

Insider Transactions at Constellation Brands

In related news, EVP James A. Jr. Sabia sold 15,781 shares of Constellation Brands stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $263.63, for a total value of $4,160,345.03. Following the transaction, 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 legal filing with the SEC, which is available through this hyperlink. 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 transaction of $4,160,345.03. Following the transaction, the executive vice president now owns 20,910 shares of the company’s stock, valued at approximately $5,512,503.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michael Mcgrew sold 3,237 shares of the company’s stock in a transaction dated 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 owns 1,731 shares in the company, valued at approximately $442,270.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 48,031 shares of company stock worth $12,582,321. Corporate insiders own 12.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on STZ shares. Royal Bank of Canada reissued an “outperform” rating and issued a $308.00 target price on shares of Constellation Brands in a research note on Tuesday, May 28th. HSBC upped their target price on shares of Constellation Brands from $290.00 to $300.00 and gave the company a “buy” rating in a research report on Friday, April 12th. Wedbush reiterated an “outperform” rating and set a $300.00 price target on shares of Constellation Brands in a research report on Wednesday, April 10th. Roth Mkm restated a “buy” rating and issued a $305.00 price objective on shares of Constellation Brands in a report on Friday, April 12th. Finally, Bank of America raised their price objective on shares of Constellation Brands from $290.00 to $300.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Three research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $298.37.

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.