Pinnacle Wealth Management Advisory Group LLC Cuts Holdings in Constellation Brands, Inc. (NYSE:STZ)

Pinnacle Wealth Management Advisory Group LLC cut its holdings in Constellation Brands, Inc. (NYSE:STZ) by 5.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,162 shares of the company’s stock after selling 70 shares during the quarter. Pinnacle Wealth Management Advisory Group LLC’s holdings in Constellation Brands were worth $257,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of STZ. Van ECK Associates Corp boosted its position in shares of Constellation Brands by 1,844.7% during the 4th quarter. Van ECK Associates Corp now owns 924,274 shares of the company’s stock worth $204,265,000 after purchasing an additional 876,745 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in Constellation Brands by 23,184.7% during the third quarter. International Assets Investment Management LLC now owns 499,689 shares of the company’s stock worth $128,765,000 after buying an additional 497,543 shares in the last quarter. State Street Corp grew its position in Constellation Brands by 6.0% during the third quarter. State Street Corp now owns 7,144,428 shares of the company’s stock worth $1,841,048,000 after buying an additional 402,211 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in Constellation Brands by 66.3% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 369,966 shares of the company’s stock valued at $81,762,000 after buying an additional 147,457 shares in the last quarter. Finally, NFJ Investment Group LLC lifted its position in shares of Constellation Brands by 617.3% during the 3rd quarter. NFJ Investment Group LLC now owns 108,382 shares of the company’s stock valued at $27,929,000 after acquiring an additional 93,273 shares during the period. Institutional investors and hedge funds own 77.34% of the company’s stock.

Insider Activity

In other Constellation Brands news, Director William T. Giles acquired 1,000 shares of the company’s stock in a transaction dated Friday, January 17th. The stock was bought at an average price of $186.39 per share, with a total value of $186,390.00. Following the completion of the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Wildstar Partners Llc sold 660 shares of Constellation Brands stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $241.00, for a total transaction of $159,060.00. Following the transaction, the insider now owns 1,736,884 shares in the company, valued at $418,589,044. The trade was a 0.04 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 12.19% of the company’s stock.

Wall Street Analysts Forecast Growth

STZ has been the subject of several research analyst reports. Wells Fargo & Company dropped their price objective on Constellation Brands from $295.00 to $275.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Argus cut Constellation Brands from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. StockNews.com upgraded shares of Constellation Brands from a “sell” rating to a “hold” rating in a research report on Thursday, February 13th. Truist Financial dropped 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, TD Cowen reduced their price target on shares of Constellation Brands from $270.00 to $260.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Ten analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, Constellation Brands currently has a consensus rating of “Moderate Buy” and an average target price of $254.29.

Constellation Brands Price Performance

STZ opened at $162.69 on Tuesday. Constellation Brands, Inc. has a 1 year low of $160.46 and a 1 year high of $274.87. The company’s 50 day simple moving average is $201.35 and its 200 day simple moving average is $228.19. The stock has a market capitalization of $29.40 billion, a PE ratio of 43.73, a P/E/G ratio of 1.51 and a beta of 0.90. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.46 and a current ratio of 1.10.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Friday, January 10th. The company reported $3.25 earnings per share for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.08). The company had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.53 billion. Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. The firm’s revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter last year, the business earned $3.19 EPS. As a group, sell-side analysts expect that Constellation Brands, Inc. will post 13.5 EPS for the current year.

Constellation Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Friday, February 7th will be issued a $1.01 dividend. The ex-dividend date is Friday, February 7th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 2.48%. Constellation Brands’s dividend payout ratio (DPR) is 108.60%.

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.