FSA Wealth Management LLC Takes $42,000 Position in Constellation Brands, Inc. (NYSE:STZ)

FSA Wealth Management LLC purchased a new position in shares of Constellation Brands, Inc. (NYSE:STZ) during the third quarter, Holdings Channel.com reports. The fund purchased 163 shares of the company’s stock, valued at approximately $42,000.

Several other hedge funds have also made changes to their positions in STZ. New Millennium Group LLC acquired a new stake in Constellation Brands in the second quarter worth $25,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Constellation Brands during the second quarter worth about $29,000. Horizon Bancorp Inc. IN acquired a new stake in shares of Constellation Brands in the 2nd quarter worth about $32,000. Opal Wealth Advisors LLC bought a new stake in Constellation Brands in the 2nd quarter valued at about $36,000. Finally, Ashton Thomas Private Wealth LLC acquired a new position in Constellation Brands during the 2nd quarter valued at about $36,000. Institutional investors own 77.34% of the company’s stock.

Constellation Brands Price Performance

Shares of NYSE:STZ opened at $240.95 on Monday. 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. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.53 and a current ratio of 1.25. The stock has a fifty day moving average of $241.72 and a 200-day moving average of $246.71. Constellation Brands, Inc. has a one year low of $224.76 and a one year high of $274.87.

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

Constellation Brands Announces Dividend

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

Wall Street Analyst Weigh In

Several brokerages have commented on STZ. BMO Capital Markets dropped their price target on shares of Constellation Brands from $315.00 to $305.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 15th. Morgan Stanley cut their target price on Constellation Brands from $305.00 to $280.00 and set an “overweight” rating on the stock in a research note on Monday, August 26th. Bank of America reissued a “neutral” rating and issued a $255.00 price target (down previously from $300.00) on shares of Constellation Brands in a research note on Monday, October 7th. Roth Mkm restated a “buy” rating and set a $298.00 price objective on shares of Constellation Brands in a research note on Friday, October 4th. Finally, Truist Financial decreased their target price on shares of Constellation Brands from $265.00 to $255.00 and set a “hold” rating for the company in a research report on Friday, October 4th. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Constellation Brands currently has an average rating of “Moderate Buy” and a consensus target price of $289.16.

Insider Transactions at Constellation Brands

In related news, major shareholder Wildstar Partners Llc sold 660 shares of the 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 approximately $418,589,044. This represents a 0.04 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Samuel J. Glaetzer sold 1,510 shares of Constellation Brands stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $245.57, for a total value of $370,810.70. Following the transaction, the executive vice president now directly owns 4,970 shares in the company, valued at approximately $1,220,482.90. This trade represents a 23.30 % 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 over the last ninety days. Corporate insiders own 12.19% of the company’s stock.

About Constellation Brands

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.