CreativeOne Wealth LLC Acquires New Position in Constellation Brands, Inc. (NYSE:STZ)

CreativeOne Wealth LLC bought a new position in shares of Constellation Brands, Inc. (NYSE:STZ) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,192 shares of the company’s stock, valued at approximately $565,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Glenmede Trust Co. NA boosted its holdings in shares of Constellation Brands by 16.5% during the third quarter. Glenmede Trust Co. NA now owns 3,908 shares of the company’s stock worth $1,007,000 after purchasing an additional 554 shares during the last quarter. Soros Capital Management LLC boosted its stake in Constellation Brands by 22.6% in the 3rd quarter. Soros Capital Management LLC now owns 13,650 shares of the company’s stock worth $3,517,000 after buying an additional 2,517 shares during the last quarter. Cadence Bank grew its holdings in Constellation Brands by 1.0% in the 3rd quarter. Cadence Bank now owns 36,388 shares of the company’s stock valued at $9,377,000 after buying an additional 354 shares during the period. D.A. Davidson & CO. increased its stake in shares of Constellation Brands by 11.2% during the 3rd quarter. D.A. Davidson & CO. now owns 57,087 shares of the company’s stock valued at $14,711,000 after acquiring an additional 5,747 shares during the last quarter. Finally, Patton Albertson Miller Group LLC lifted its holdings in shares of Constellation Brands by 0.6% during the 3rd quarter. Patton Albertson Miller Group LLC now owns 24,258 shares of the company’s stock worth $6,251,000 after acquiring an additional 154 shares during the period. 77.34% of the stock is owned by hedge funds and other institutional investors.

Constellation Brands Stock Up 2.1 %

Shares of Constellation Brands stock opened at $240.95 on Friday. Constellation Brands, Inc. has a 1-year low of $224.76 and a 1-year high of $274.87. The company has a market capitalization of $43.75 billion, a PE ratio of 77.98, a P/E/G ratio of 1.67 and a beta of 1.75. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.25 and a quick ratio of 0.53. The business has a 50-day moving average of $241.72 and a 200-day moving average of $246.75.

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

Constellation Brands Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on STZ. Royal Bank of Canada restated an “outperform” rating and issued a $308.00 target price on shares of Constellation Brands in a report on Tuesday, November 19th. BMO Capital Markets dropped their price objective on Constellation Brands from $315.00 to $305.00 and set an “outperform” rating for the company in a report on Tuesday, October 15th. Barclays reduced their target price on Constellation Brands from $309.00 to $300.00 and set an “overweight” rating on the stock in a report on Monday, October 7th. Evercore ISI lowered their price target on Constellation Brands from $310.00 to $300.00 and set an “outperform” rating for the company in a research report on Friday, October 4th. Finally, BNP Paribas initiated coverage on Constellation Brands in a report on Monday, November 25th. They issued a “neutral” rating and a $261.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $289.16.

Insider Transactions at Constellation Brands

In related news, major shareholder Wildstar Partners Llc sold 660 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $241.00, for a total transaction of $159,060.00. Following 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Samuel J. Glaetzer sold 1,510 shares of Constellation Brands stock in a transaction on Monday, October 14th. The stock was sold at an average price of $245.57, for a total transaction of $370,810.70. Following the completion of the transaction, the executive vice president now directly owns 4,970 shares of the company’s stock, valued at approximately $1,220,482.90. This represents a 23.30 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 189,956 shares of company stock valued at $46,058,091. 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.