FSA Wealth Management LLC Takes Position in Constellation Brands, Inc. (NYSE:STZ)

FSA Wealth Management LLC acquired a new position in shares of Constellation Brands, Inc. (NYSE:STZ) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 163 shares of the company’s stock, valued at approximately $42,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Swedbank AB purchased a new stake in shares of Constellation Brands during the first quarter worth about $561,000. Cetera Investment Advisers boosted its position in Constellation Brands by 128.2% during the first quarter. Cetera Investment Advisers now owns 40,716 shares of the company’s stock worth $11,065,000 after acquiring an additional 22,870 shares during the last quarter. Cetera Advisors LLC boosted its position in Constellation Brands by 182.1% during the first quarter. Cetera Advisors LLC now owns 14,236 shares of the company’s stock worth $3,869,000 after acquiring an additional 9,190 shares during the last quarter. DekaBank Deutsche Girozentrale grew its stake in Constellation Brands by 1.1% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 27,385 shares of the company’s stock worth $7,383,000 after acquiring an additional 301 shares during the period. Finally, DNB Asset Management AS raised its holdings in Constellation Brands by 8.9% in the 2nd quarter. DNB Asset Management AS now owns 31,892 shares of the company’s stock valued at $8,205,000 after acquiring an additional 2,611 shares during the last quarter. Institutional investors and hedge funds own 77.34% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Royal Bank of Canada restated an “outperform” rating and set a $308.00 price objective on shares of Constellation Brands in a report on Tuesday, November 19th. JPMorgan Chase & Co. decreased their price target on Constellation Brands from $307.00 to $293.00 and set an “overweight” rating on the stock in a research note on Friday, October 4th. Truist Financial dropped their price objective on shares of Constellation Brands from $265.00 to $255.00 and set a “hold” rating for the company in a research note on Friday, October 4th. BMO Capital Markets decreased their target price on shares of Constellation Brands from $315.00 to $305.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 15th. Finally, Barclays dropped their price target on shares of Constellation Brands from $309.00 to $300.00 and set an “overweight” rating for the company in a research report on Monday, October 7th. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, Constellation Brands currently has a consensus rating of “Moderate Buy” and a consensus price target of $289.16.

Constellation Brands Price Performance

Shares of STZ stock opened at $240.95 on Monday. The firm has a fifty day simple moving average of $241.72 and a 200-day simple moving average of $246.71. The company has a market capitalization of $43.75 billion, a PE ratio of 77.98, a price-to-earnings-growth ratio of 1.70 and a beta of 0.90. Constellation Brands, Inc. has a twelve month low of $224.76 and a twelve month high of $274.87. The company has a current ratio of 1.25, a quick ratio of 0.53 and a debt-to-equity ratio of 1.31.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings data on Thursday, October 3rd. The company reported $4.32 earnings per share for the quarter, beating analysts’ consensus estimates of $4.08 by $0.24. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. The company had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.95 billion. During the same period in the prior year, the company posted $3.70 EPS. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. Equities research analysts anticipate that Constellation Brands, Inc. will post 13.57 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th were given a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date of this dividend was Tuesday, November 5th. Constellation Brands’s payout ratio is 130.74%.

Insider Buying and Selling at Constellation Brands

In related news, major shareholder Wildstar Partners Llc sold 660 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $241.00, for a total value of $159,060.00. Following the completion of the sale, the insider now directly owns 1,736,884 shares of the company’s stock, valued at $418,589,044. The trade was a 0.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO William A. Newlands sold 7,426 shares of Constellation Brands stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $237.24, for a total value of $1,761,744.24. Following the completion of the transaction, the chief executive officer now owns 7,274 shares of the company’s stock, valued at approximately $1,725,683.76. The trade was a 50.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 189,956 shares of company stock valued at $46,058,091 in the last three months. Corporate insiders own 12.19% of the company’s stock.

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.