Empower Advisory Group LLC Boosts Position in Constellation Brands, Inc. (NYSE:STZ)

Empower Advisory Group LLC raised its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 19.1% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,584 shares of the company’s stock after purchasing an additional 254 shares during the period. Empower Advisory Group LLC’s holdings in Constellation Brands were worth $350,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Compagnie Lombard Odier SCmA purchased a new position in Constellation Brands during the 4th quarter valued at about $27,000. Union Bancaire Privee UBP SA purchased a new position in Constellation Brands during the 4th quarter valued at about $28,000. Versant Capital Management Inc increased its position in Constellation Brands by 887.5% during the 4th 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 purchased a new position in Constellation Brands during the 3rd quarter valued at about $39,000. Finally, FSA Wealth Management LLC purchased a new position in Constellation Brands during the 3rd quarter valued at about $42,000. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Constellation Brands Stock Performance

Shares of NYSE STZ opened at $172.47 on Thursday. The company has a current ratio of 1.10, a quick ratio of 0.46 and a debt-to-equity ratio of 1.26. Constellation Brands, Inc. has a 12 month low of $160.46 and a 12 month high of $274.87. The company has a 50 day simple moving average of $196.90 and a two-hundred day simple moving average of $226.68. The stock has a market cap of $31.17 billion, a price-to-earnings ratio of 46.36, a PEG ratio of 1.44 and a beta of 0.90.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings data 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 for the quarter, compared to analyst estimates of $2.53 billion. During the same quarter in the previous year, the firm posted $3.19 earnings per share. The business’s revenue was down .3% on a year-over-year basis. As a group, analysts predict that Constellation Brands, Inc. will post 13.5 earnings per share for the current year.

Constellation Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Friday, February 7th will be paid a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 2.34%. The ex-dividend date is Friday, February 7th. Constellation Brands’s dividend payout ratio is currently 108.60%.

Insider Activity at Constellation Brands

In other news, Director William T. Giles bought 1,000 shares of the firm’s stock in a transaction that occurred on Friday, January 17th. The stock was purchased at an average cost of $186.39 per share, for a total transaction of $186,390.00. Following the purchase, the director now directly owns 1,463 shares in the company, valued at approximately $272,688.57. This trade represents a 215.98 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 12.19% of the company’s stock.

Wall Street Analysts Forecast Growth

STZ has been the topic of a number of research reports. Jefferies Financial Group reissued a “hold” rating and set a $201.00 target price (down previously from $310.00) on shares of Constellation Brands in a research report on Monday, January 13th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $293.00 price objective on shares of Constellation Brands in a research report on Monday, February 3rd. Truist Financial cut their price objective on shares of Constellation Brands from $255.00 to $190.00 and set a “hold” rating on the stock in a research report on Tuesday, January 14th. UBS Group cut their price objective on shares of Constellation Brands from $265.00 to $223.00 and set a “buy” rating on the stock in a research report on Friday, January 17th. Finally, TD Cowen cut their price objective on shares of Constellation Brands from $270.00 to $260.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. Ten equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, Constellation Brands has an average rating of “Moderate Buy” and a consensus target price of $254.29.

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.