SVB Wealth LLC Trims Stock Position in Constellation Brands, Inc. (NYSE:STZ)

SVB Wealth LLC decreased its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 2.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,079 shares of the company’s stock after selling 85 shares during the quarter. SVB Wealth LLC’s holdings in Constellation Brands were worth $1,109,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in STZ. YHB Investment Advisors Inc. purchased a new stake in Constellation Brands in the first quarter valued at approximately $35,000. Kapitalo Investimentos Ltda purchased a new stake in shares of Constellation Brands in the fourth quarter valued at about $35,000. First Financial Corp IN acquired a new position in Constellation Brands in the 1st quarter valued at about $35,000. Turtle Creek Wealth Advisors LLC acquired a new stake in Constellation Brands during the 4th quarter worth approximately $37,000. Finally, Fidelis Capital Partners LLC purchased a new position in shares of Constellation Brands in the 1st quarter valued at approximately $45,000. 77.34% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Constellation Brands

In other news, EVP Kaneenat Kristann Carey sold 977 shares of Constellation Brands stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $261.00, for a total value of $254,997.00. Following the completion of the transaction, the executive vice president now owns 2,706 shares in the company, valued at approximately $706,266. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, EVP Kaneenat Kristann Carey sold 977 shares of the company’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $261.00, for a total transaction of $254,997.00. Following the completion of the transaction, the executive vice president now owns 2,706 shares in the company, valued at $706,266. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Michael Mcgrew sold 3,237 shares of Constellation Brands stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $255.50, for a total value of $827,053.50. Following 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 29,214 shares of company stock worth $7,620,551 over the last quarter. 12.19% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

STZ has been the topic of several recent analyst reports. Barclays boosted their target price on Constellation Brands from $287.00 to $295.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th. Truist Financial reiterated a “hold” rating and issued a $265.00 price objective on shares of Constellation Brands in a research note on Wednesday, July 3rd. Evercore ISI lifted their price target on shares of Constellation Brands from $300.00 to $310.00 and gave the company an “outperform” rating in a research report on Friday, April 12th. Argus upgraded Constellation Brands from a “hold” rating to a “buy” rating and set a $306.00 price target on the stock in a report on Monday, April 15th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $315.00 price objective on shares of Constellation Brands in a report on Friday, July 5th. Three analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $300.28.

Constellation Brands Trading Down 0.6 %

Shares of STZ traded down $1.44 during mid-day trading on Tuesday, reaching $244.73. The company had a trading volume of 170,683 shares, compared to its average volume of 1,201,089. The stock has a market cap of $44.59 billion, a price-to-earnings ratio of 18.34, a price-to-earnings-growth ratio of 1.67 and a beta of 0.87. The company has a current ratio of 1.19, a quick ratio of 0.53 and a debt-to-equity ratio of 1.06. The firm has a fifty day simple moving average of $252.77 and a 200-day simple moving average of $255.01. 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 released its quarterly earnings data on Wednesday, July 3rd. The company reported $3.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.46 by $0.11. The company had revenue of $2.66 billion during the quarter, compared to analyst estimates of $2.67 billion. Constellation Brands had a net margin of 22.70% and a return on equity of 23.72%. The business’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.91 earnings per share. On average, sell-side analysts anticipate that Constellation Brands, Inc. will post 13.57 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Wednesday, August 14th will be paid a $1.01 dividend. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.65%. Constellation Brands’s dividend payout ratio (DPR) is presently 30.10%.

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.