Lake Street Private Wealth LLC Sells 280 Shares of Constellation Brands, Inc. (NYSE:STZ)

Lake Street Private Wealth LLC reduced its stake in Constellation Brands, Inc. (NYSE:STZ) by 16.0% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,474 shares of the company’s stock after selling 280 shares during the period. Lake Street Private Wealth LLC’s holdings in Constellation Brands were worth $401,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank bought a new position in Constellation Brands during the fourth quarter worth about $443,844,000. Boston Partners acquired a new stake in shares of Constellation Brands in the 4th quarter valued at about $156,358,000. International Assets Investment Management LLC raised its stake in shares of Constellation Brands by 24,922.5% in the 4th quarter. International Assets Investment Management LLC now owns 567,010 shares of the company’s stock valued at $137,075,000 after purchasing an additional 564,744 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Constellation Brands by 38.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,403,495 shares of the company’s stock valued at $335,402,000 after purchasing an additional 388,390 shares during the period. Finally, Palestra Capital Management LLC acquired a new stake in shares of Constellation Brands in the 4th quarter valued at about $83,195,000. 77.34% of the stock is currently owned by institutional investors.

Constellation Brands Trading Down 3.3 %

Shares of NYSE:STZ opened at $250.37 on Friday. Constellation Brands, Inc. has a 12-month low of $227.50 and a 12-month high of $274.87. The stock has a market cap of $45.81 billion, a PE ratio of 26.69, a P/E/G ratio of 1.72 and a beta of 0.87. The business has a 50 day moving average of $254.99 and a 200-day moving average of $254.00. The company has a quick ratio of 0.53, a current ratio of 1.19 and a debt-to-equity ratio of 1.06.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings data on Wednesday, July 3rd. The company reported $3.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.46 by $0.11. Constellation Brands had a return on equity of 23.06% and a net margin of 16.13%. The company had revenue of $2.66 billion during the quarter, compared to analysts’ expectations of $2.67 billion. During the same quarter in the previous year, the company posted $2.91 earnings per share. The business’s revenue was up 5.8% on a year-over-year basis. As a group, equities research analysts forecast that Constellation Brands, Inc. will post 13.67 earnings per share for the current year.

Constellation Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders 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 dividend yield of 1.61%. Constellation Brands’s dividend payout ratio is presently 43.07%.

Insider Transactions at Constellation Brands

In related news, EVP Michael Mcgrew sold 3,237 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $255.50, for a total value of $827,053.50. Following the completion of the sale, the executive vice president now directly owns 1,731 shares in the company, valued at $442,270.50. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, EVP Michael Mcgrew sold 3,237 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $255.50, for a total value of $827,053.50. Following the completion of the sale, the executive vice president now directly owns 1,731 shares in the company, valued at $442,270.50. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO William A. Newlands sold 4,013 shares of the business’s stock in a transaction that occurred on Friday, April 19th. The shares were sold at an average price of $263.25, for a total value of $1,056,422.25. Following the completion of the sale, the chief executive officer now owns 5,395 shares of the company’s stock, valued at $1,420,233.75. The disclosure for this sale can be found here. Insiders sold a total of 48,031 shares of company stock worth $12,582,321 over the last quarter. Company insiders own 12.19% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on STZ. Piper Sandler began coverage on Constellation Brands in a research note on Friday, March 22nd. They issued an “overweight” rating and a $300.00 price target on the stock. Bank of America lifted their target price on Constellation Brands from $290.00 to $300.00 and gave the company a “buy” rating in a research report on Monday, March 18th. Roth Mkm reaffirmed a “buy” rating and issued a $305.00 target price on shares of Constellation Brands in a research report on Friday, April 12th. Argus raised Constellation Brands from a “hold” rating to a “buy” rating and set a $306.00 target price on the stock in a research report on Monday, April 15th. Finally, Evercore ISI lifted their target price on Constellation Brands from $300.00 to $310.00 and gave the company an “outperform” rating in a research report on Friday, April 12th. Three research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, Constellation Brands presently has a consensus rating of “Moderate Buy” and a consensus price target of $298.63.

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.