Wedmont Private Capital Raises Holdings in Constellation Brands, Inc. (NYSE:STZ)

Wedmont Private Capital increased its position in Constellation Brands, Inc. (NYSE:STZ) by 13.5% in the 2nd quarter, Holdings Channel reports. The firm owned 1,543 shares of the company’s stock after buying an additional 184 shares during the period. Wedmont Private Capital’s holdings in Constellation Brands were worth $401,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in STZ. Vanguard Group Inc. raised its holdings in shares of Constellation Brands by 3.5% in the first quarter. Vanguard Group Inc. now owns 13,705,793 shares of the company’s stock valued at $3,724,686,000 after buying an additional 462,891 shares during the last quarter. Capital International Investors grew its position in Constellation Brands by 39.4% in the 1st quarter. Capital International Investors now owns 11,685,249 shares of the company’s stock valued at $3,175,583,000 after buying an additional 3,304,709 shares during the last quarter. Capital World Investors lifted its stake in shares of Constellation Brands by 8.7% in the 1st quarter. Capital World Investors now owns 9,040,669 shares of the company’s stock worth $2,456,892,000 after acquiring an additional 723,549 shares during the period. Capital Research Global Investors increased its stake in shares of Constellation Brands by 9.9% during the first quarter. Capital Research Global Investors now owns 2,469,997 shares of the company’s stock worth $671,246,000 after acquiring an additional 222,380 shares during the period. Finally, Norges Bank purchased a new position in Constellation Brands during the fourth quarter worth about $443,844,000. 77.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on STZ shares. UBS Group raised their price target on Constellation Brands from $315.00 to $320.00 and gave the company a “buy” rating in a report on Friday, July 5th. Jefferies Financial Group boosted their target price on shares of Constellation Brands from $310.00 to $311.00 and gave the stock a “buy” rating in a research report on Friday, July 5th. JPMorgan Chase & Co. upped their price target on shares of Constellation Brands from $291.00 to $320.00 and gave the stock an “overweight” rating in a research note on Friday, July 5th. BMO Capital Markets reiterated an “outperform” rating and issued a $315.00 price objective on shares of Constellation Brands in a research note on Friday, July 5th. Finally, Truist Financial restated a “hold” rating and set a $265.00 target price on shares of Constellation Brands in a research report on Wednesday, July 3rd. Three analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, Constellation Brands has a consensus rating of “Moderate Buy” and an average target price of $300.28.

Insiders Place Their Bets

In other news, EVP Kaneenat Kristann Carey sold 977 shares of the 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 transaction, the executive vice president now directly 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 at this hyperlink. In other Constellation Brands news, CFO Garth Hankinson sold 13,583 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $240.00, for a total transaction of $3,259,920.00. Following the completion of the sale, the chief financial officer now owns 11,702 shares of the company’s stock, valued at $2,808,480. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Kaneenat Kristann Carey sold 977 shares of the firm’s stock in a transaction dated 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 $706,266. The disclosure for this sale can be found here. Insiders have sold a total of 16,414 shares of company stock valued at $3,982,922 in the last quarter. 12.19% of the stock is currently owned by company insiders.

Constellation Brands Price Performance

Shares of STZ traded up $1.27 during trading hours on Tuesday, reaching $240.07. 563,965 shares of the company traded hands, compared to its average volume of 1,194,911. The stock has a market capitalization of $43.93 billion, a PE ratio of 17.83, a price-to-earnings-growth ratio of 1.62 and a beta of 1.75. The stock has a fifty day simple moving average of $251.47 and a 200 day simple moving average of $254.16. Constellation Brands, Inc. has a fifty-two week low of $227.50 and a fifty-two week 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.

Constellation Brands (NYSE:STZ) last released its quarterly earnings results 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 for the quarter, compared to analysts’ expectations of $2.67 billion. Constellation Brands had a net margin of 22.70% and a return on equity of 23.72%. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period last year, the company earned $2.91 EPS. As a group, research analysts predict that Constellation Brands, Inc. will post 13.57 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Wednesday, August 14th will be issued a $1.01 dividend. The ex-dividend date is Wednesday, August 14th. This represents a $4.04 annualized dividend and a yield of 1.68%. Constellation Brands’s dividend payout ratio (DPR) is presently 30.10%.

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.