Naviter Wealth LLC Buys New Stake in Constellation Brands, Inc. (NYSE:STZ)

Naviter Wealth LLC bought a new stake in shares of Constellation Brands, Inc. (NYSE:STZ) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,864 shares of the company’s stock, valued at approximately $412,000.

Several other institutional investors also recently bought and sold shares of the stock. Farther Finance Advisors LLC grew its stake in shares of Constellation Brands by 22.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 812 shares of the company’s stock worth $209,000 after buying an additional 150 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its stake in shares of Constellation Brands by 2.4% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 9,995 shares of the company’s stock worth $2,576,000 after buying an additional 237 shares in the last quarter. Executive Wealth Management LLC grew its stake in shares of Constellation Brands by 18.9% in the 3rd quarter. Executive Wealth Management LLC now owns 12,985 shares of the company’s stock worth $3,346,000 after buying an additional 2,060 shares in the last quarter. Assetmark Inc. grew its stake in shares of Constellation Brands by 25.1% in the 3rd quarter. Assetmark Inc. now owns 22,609 shares of the company’s stock worth $5,826,000 after buying an additional 4,531 shares in the last quarter. Finally, 5th Street Advisors LLC purchased a new position in shares of Constellation Brands in the 3rd quarter worth $206,000. 77.34% of the stock is owned by hedge funds and other institutional investors.

Constellation Brands Trading Up 4.3 %

NYSE:STZ opened at $186.64 on Friday. Constellation Brands, Inc. has a one year low of $160.46 and a one year high of $274.87. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.46 and a current ratio of 1.10. The firm has a market cap of $33.73 billion, a P/E ratio of 50.17, a P/E/G ratio of 1.52 and a beta of 1.75. The firm has a 50-day simple moving average of $184.27 and a 200-day simple moving average of $221.29.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings results on Friday, January 10th. The company reported $3.25 EPS for the quarter, missing the consensus estimate of $3.33 by ($0.08). Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. The business had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.53 billion. During the same quarter in the prior year, the firm posted $3.19 EPS. The company’s revenue for the quarter was down .3% compared to the same quarter last year. Equities analysts anticipate that Constellation Brands, Inc. will post 13.5 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 7th were issued a $1.01 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $4.04 annualized dividend and a dividend yield of 2.16%. Constellation Brands’s dividend payout ratio is currently 108.60%.

Insider Activity

In other news, Director William T. Giles acquired 1,000 shares of the business’s stock in a transaction dated Friday, January 17th. The shares were purchased at an average price of $186.39 per share, with a total value of $186,390.00. Following the transaction, the director now directly owns 1,463 shares in the company, valued at approximately $272,688.57. This represents a 215.98 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 12.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on STZ shares. Jefferies Financial Group reissued a “hold” rating and issued a $201.00 price objective (down from $310.00) on shares of Constellation Brands in a research note on Monday, January 13th. TD Cowen lowered their target price on shares of Constellation Brands from $270.00 to $260.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. Morgan Stanley lowered shares of Constellation Brands from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $220.00 to $202.00 in a report on Thursday, February 27th. Truist Financial lowered their target price on shares of Constellation Brands from $255.00 to $190.00 and set a “hold” rating for the company in a report on Tuesday, January 14th. Finally, Royal Bank of Canada lowered their target price on shares of Constellation Brands from $293.00 to $289.00 and set an “outperform” rating for the company in a report on Friday. Eleven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $253.24.

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.