NewEdge Wealth LLC Reduces Stock Holdings in Constellation Brands, Inc. (NYSE:STZ)

NewEdge Wealth LLC lessened its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 17.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 6,880 shares of the company’s stock after selling 1,501 shares during the period. NewEdge Wealth LLC’s holdings in Constellation Brands were worth $1,521,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Compagnie Lombard Odier SCmA bought a new position in Constellation Brands during the fourth quarter valued at $27,000. Union Bancaire Privee UBP SA purchased a new stake in Constellation Brands in the 4th quarter worth about $28,000. Versant Capital Management Inc raised its position in Constellation Brands by 887.5% in the 4th quarter. Versant Capital Management Inc now owns 158 shares of the company’s stock worth $35,000 after purchasing an additional 142 shares during the period. Centricity Wealth Management LLC purchased a new position in shares of Constellation Brands during the fourth quarter valued at approximately $35,000. Finally, FSA Wealth Management LLC purchased a new position in shares of Constellation Brands during the third quarter valued at approximately $42,000. 77.34% of the stock is currently owned by institutional investors.

Insider Transactions at Constellation Brands

In other Constellation Brands news, Director William T. Giles purchased 1,000 shares of the firm’s stock in a transaction on Friday, January 17th. The stock was bought at an average cost of $186.39 per share, for a total transaction of $186,390.00. Following the completion of the purchase, the director now owns 1,463 shares in the company, valued at $272,688.57. This represents a 215.98 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 12.19% of the company’s stock.

Constellation Brands Price Performance

Shares of STZ stock opened at $175.74 on Friday. The company has a market cap of $31.76 billion, a P/E ratio of 47.24, a PEG ratio of 1.52 and a beta of 1.75. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.10 and a quick ratio of 0.46. The stock’s 50-day moving average is $189.00 and its 200 day moving average is $223.60. Constellation Brands, Inc. has a 1-year low of $160.46 and a 1-year high of $274.87.

Constellation Brands (NYSE:STZ) last released 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 firm had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.53 billion. Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. The firm’s quarterly revenue was down .3% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.19 earnings per share. Research analysts predict that Constellation Brands, Inc. will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 7th were issued a dividend of $1.01 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $4.04 annualized dividend and a dividend yield of 2.30%. Constellation Brands’s dividend payout ratio is presently 108.60%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on STZ. TD Cowen reduced their price target on Constellation Brands from $270.00 to $260.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Argus lowered Constellation Brands from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $203.00 target price (down from $262.00) on shares of Constellation Brands in a research note on Monday, January 13th. Barclays cut their price target on shares of Constellation Brands from $282.00 to $214.00 and set an “overweight” rating on the stock in a report on Tuesday, January 14th. Finally, Roth Capital decreased their price objective on shares of Constellation Brands from $298.00 to $284.00 and set a “buy” rating for the company in a report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Constellation Brands currently has an average rating of “Hold” and an average price target of $253.43.

Constellation Brands 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.