Independent Solutions Wealth Management LLC Cuts Stock Holdings in Constellation Brands, Inc. (NYSE:STZ)

Independent Solutions Wealth Management LLC cut its position in Constellation Brands, Inc. (NYSE:STZ) by 4.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,865 shares of the company’s stock after selling 160 shares during the quarter. Independent Solutions Wealth Management LLC’s holdings in Constellation Brands were worth $996,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Paloma Partners Management Co boosted its stake in shares of Constellation Brands by 568.4% in the 3rd quarter. Paloma Partners Management Co now owns 30,000 shares of the company’s stock valued at $7,731,000 after purchasing an additional 25,512 shares in the last quarter. Empowered Funds LLC increased its holdings in shares of Constellation Brands by 318.8% in the third quarter. Empowered Funds LLC now owns 10,184 shares of the company’s stock worth $2,624,000 after buying an additional 7,752 shares during the period. WealthPlan Investment Management LLC lifted its stake in shares of Constellation Brands by 29.5% in the 3rd quarter. WealthPlan Investment Management LLC now owns 30,160 shares of the company’s stock valued at $7,772,000 after acquiring an additional 6,867 shares during the last quarter. Signature Estate & Investment Advisors LLC bought a new position in shares of Constellation Brands in the 3rd quarter worth approximately $2,132,000. Finally, Nomura Asset Management Co. Ltd. lifted its stake in shares of Constellation Brands by 3.7% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 84,204 shares of the company’s stock valued at $21,699,000 after purchasing an additional 2,980 shares during the period. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Constellation Brands Stock Down 0.3 %

Shares of STZ traded down $0.68 during mid-day trading on Thursday, hitting $227.63. The company’s stock had a trading volume of 1,227,375 shares, compared to its average volume of 1,220,805. The firm has a market capitalization of $41.33 billion, a price-to-earnings ratio of 73.67, a PEG ratio of 1.69 and a beta of 1.75. The company’s 50-day moving average is $238.39 and its 200-day moving average is $245.69. 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, Inc. has a 52-week low of $224.76 and a 52-week high of $274.87.

Constellation Brands (NYSE:STZ) last announced its earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share (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 for the quarter, compared to analysts’ expectations of $2.95 billion. During the same quarter last year, the firm earned $3.70 EPS. The business’s revenue for the quarter was up 2.9% on a year-over-year basis. On average, equities research analysts forecast that Constellation Brands, Inc. will post 13.57 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th were paid a dividend of $1.01 per share. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.77%. Constellation Brands’s payout ratio is 130.74%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on STZ shares. Truist Financial decreased their price objective on Constellation Brands from $265.00 to $255.00 and set a “hold” rating for the company in a report on Friday, October 4th. BNP Paribas began coverage on shares of Constellation Brands in a research report on Monday, November 25th. They set a “neutral” rating and a $261.00 price target for the company. TD Cowen cut shares of Constellation Brands from a “buy” rating to a “hold” rating and cut their price objective for the stock from $300.00 to $270.00 in a report on Tuesday, October 8th. Morgan Stanley dropped their price target on Constellation Brands from $305.00 to $280.00 and set an “overweight” rating on the stock in a research report on Monday, August 26th. Finally, Needham & Company LLC began coverage on Constellation Brands in a research note on Friday, December 6th. They set a “buy” rating and a $280.00 price objective for the company. Five investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $288.70.

Insider Buying and Selling at Constellation Brands

In other Constellation Brands news, EVP Samuel J. Glaetzer sold 1,510 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at $1,220,482.90. This trade represents a 23.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Wildstar Partners Llc sold 660 shares of the company’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 completion of the sale, the insider now owns 1,736,884 shares of the company’s stock, 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. Over the last quarter, insiders sold 189,956 shares of company stock valued at $46,058,091. 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.