Daymark Wealth Partners LLC Sells 261 Shares of Constellation Brands, Inc. (NYSE:STZ)

Daymark Wealth Partners LLC lowered its stake in Constellation Brands, Inc. (NYSE:STZ) by 4.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,275 shares of the company’s stock after selling 261 shares during the quarter. Daymark Wealth Partners LLC’s holdings in Constellation Brands were worth $1,166,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of STZ. Versant Capital Management Inc raised its holdings in shares of Constellation Brands by 887.5% during the fourth quarter. Versant Capital Management Inc now owns 158 shares of the company’s stock valued at $35,000 after purchasing an additional 142 shares during the period. Eastern Bank bought a new stake in Constellation Brands in the 3rd quarter valued at about $39,000. FSA Wealth Management LLC acquired a new position in Constellation Brands during the 3rd quarter worth approximately $42,000. Truvestments Capital LLC bought a new position in Constellation Brands in the third quarter worth approximately $60,000. Finally, Continuum Advisory LLC grew its stake in Constellation Brands by 68.0% in the third quarter. Continuum Advisory LLC now owns 252 shares of the company’s stock valued at $61,000 after acquiring an additional 102 shares during the period. Institutional investors and hedge funds own 77.34% of the company’s stock.

Constellation Brands Trading Down 2.2 %

Shares of STZ stock opened at $178.99 on Thursday. Constellation Brands, Inc. has a 12-month low of $176.51 and a 12-month high of $274.87. The company has a quick ratio of 0.46, a current ratio of 1.10 and a debt-to-equity ratio of 1.26. The company has a 50 day moving average of $224.60 and a 200-day moving average of $237.74. The firm has a market cap of $32.35 billion, a P/E ratio of 48.12, a PEG ratio of 1.62 and a beta of 0.91.

Constellation Brands (NYSE:STZ) last released its earnings results on Friday, January 10th. The company reported $3.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.08). Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The firm had revenue of $2.46 billion during the quarter, compared to analysts’ expectations of $2.53 billion. During the same period in the prior year, the business earned $3.19 earnings per share. The business’s quarterly revenue was down .3% compared to the same quarter last year. Sell-side analysts anticipate that Constellation Brands, Inc. will post 13.52 earnings per share for the current year.

Constellation Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Friday, February 7th will be given a dividend of $1.01 per share. The ex-dividend date is Friday, February 7th. This represents a $4.04 dividend on an annualized basis and a yield of 2.26%. Constellation Brands’s dividend payout ratio is presently 108.60%.

Insiders Place Their Bets

In related news, Director William T. Giles purchased 1,000 shares of the business’s stock in a transaction dated Friday, January 17th. The stock was purchased at an average cost of $186.39 per share, with a total value of $186,390.00. Following the completion of the acquisition, the director now directly owns 1,463 shares of the company’s stock, valued at approximately $272,688.57. The trade was a 215.98 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Wildstar Partners Llc sold 660 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $241.00, for a total value of $159,060.00. Following the sale, the insider now owns 1,736,884 shares in the company, valued at approximately $418,589,044. The trade was a 0.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 69,172 shares of company stock worth $16,778,841 over the last quarter. 12.19% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

STZ has been the topic of several research reports. BMO Capital Markets lowered their price objective on shares of Constellation Brands from $315.00 to $305.00 and set an “outperform” rating on the stock in a report on Tuesday, October 15th. Truist Financial lowered their target price on shares of Constellation Brands from $255.00 to $190.00 and set a “hold” rating on the stock in a report on Tuesday, January 14th. Royal Bank of Canada reiterated an “outperform” rating and set a $308.00 price target on shares of Constellation Brands in a research note on Tuesday, January 7th. Roth Capital lowered their price objective on Constellation Brands from $298.00 to $284.00 and set a “buy” rating for the company in a research note on Friday, January 17th. Finally, Barclays cut their target price on Constellation Brands from $282.00 to $214.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $259.05.

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.