Constellation Brands, Inc. (NYSE:STZ) Shares Purchased by FORVIS Wealth Advisors LLC

FORVIS Wealth Advisors LLC raised its holdings in Constellation Brands, Inc. (NYSE:STZ) by 4.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,314 shares of the company’s stock after purchasing an additional 433 shares during the quarter. FORVIS Wealth Advisors LLC’s holdings in Constellation Brands were worth $2,803,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Perigon Wealth Management LLC increased its stake in Constellation Brands by 46.0% in the fourth quarter. Perigon Wealth Management LLC now owns 6,012 shares of the company’s stock valued at $1,453,000 after purchasing an additional 1,893 shares during the period. Stifel Financial Corp increased its stake in Constellation Brands by 3.2% in the fourth quarter. Stifel Financial Corp now owns 192,585 shares of the company’s stock valued at $46,570,000 after purchasing an additional 5,951 shares during the period. CoreCap Advisors LLC increased its stake in Constellation Brands by 35.8% in the fourth quarter. CoreCap Advisors LLC now owns 2,002 shares of the company’s stock valued at $484,000 after purchasing an additional 528 shares during the period. Ascent Wealth Partners LLC acquired a new position in Constellation Brands in the fourth quarter valued at $962,000. Finally, KBC Group NV boosted its holdings in shares of Constellation Brands by 100.4% in the fourth quarter. KBC Group NV now owns 250,945 shares of the company’s stock valued at $60,666,000 after acquiring an additional 125,730 shares in the last quarter. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Barclays lowered their target price on shares of Constellation Brands from $295.00 to $288.00 and set an “overweight” rating on the stock in a report on Wednesday, May 29th. Bank of America lifted their target price on shares of Constellation Brands from $290.00 to $300.00 and gave the company a “buy” rating in a report on Monday, March 18th. JPMorgan Chase & Co. lifted their target price on shares of Constellation Brands from $291.00 to $320.00 and gave the company an “overweight” rating in a report on Friday. UBS Group lifted their target price on shares of Constellation Brands from $315.00 to $320.00 and gave the company a “buy” rating in a report on Friday. Finally, Argus raised shares of Constellation Brands from a “hold” rating to a “buy” rating and set a $306.00 target price on the stock in a report on Monday, April 15th. Three analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $300.16.

Insider Buying and Selling

In related news, EVP James A. Jr. Sabia sold 15,781 shares of the firm’s stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $263.63, for a total transaction of $4,160,345.03. Following the completion of the sale, the executive vice president now directly owns 20,910 shares in the company, valued at $5,512,503.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, EVP James A. Jr. Sabia sold 15,781 shares of the company’s stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $263.63, for a total value of $4,160,345.03. Following the completion of the sale, the executive vice president now owns 20,910 shares in the company, valued at approximately $5,512,503.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Michael Mcgrew sold 3,237 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $255.50, for a total transaction of $827,053.50. Following the completion of the sale, the executive vice president now owns 1,731 shares of the company’s stock, valued at approximately $442,270.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 48,031 shares of company stock worth $12,582,321. Corporate insiders own 12.19% of the company’s stock.

Constellation Brands Stock Up 0.7 %

NYSE:STZ traded up $1.71 on Friday, reaching $252.08. The stock had a trading volume of 204,376 shares, compared to its average volume of 1,196,887. The company has a current ratio of 1.19, a quick ratio of 0.53 and a debt-to-equity ratio of 1.06. The company has a 50-day moving average of $254.77 and a 200 day moving average of $253.97. The stock has a market cap of $46.13 billion, a P/E ratio of 26.69, a price-to-earnings-growth ratio of 1.66 and a beta of 0.87. Constellation Brands, Inc. has a 12-month low of $227.50 and a 12-month high of $274.87.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings data on Wednesday, July 3rd. The company reported $3.57 earnings per share for the quarter, beating analysts’ consensus estimates of $3.46 by $0.11. The company had revenue of $2.66 billion during the quarter, compared to analysts’ expectations of $2.67 billion. Constellation Brands had a net margin of 22.70% and a return on equity of 23.72%. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the prior year, the company posted $2.91 EPS. On average, research analysts predict that Constellation Brands, Inc. will post 13.67 earnings per share for the current year.

Constellation Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Wednesday, August 14th will be issued a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 1.60%. Constellation Brands’s payout ratio is 43.07%.

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.