Atria Wealth Solutions Inc. Acquires 98 Shares of Constellation Brands, Inc. (NYSE:STZ)

Atria Wealth Solutions Inc. lifted its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 1.2% during the second quarter, HoldingsChannel reports. The firm owned 8,192 shares of the company’s stock after purchasing an additional 98 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Constellation Brands were worth $2,108,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in STZ. Capital International Investors raised its position in Constellation Brands by 39.4% in the first quarter. Capital International Investors now owns 11,685,249 shares of the company’s stock worth $3,175,583,000 after acquiring an additional 3,304,709 shares during the period. Norges Bank bought a new stake in shares of Constellation Brands in the 4th quarter worth approximately $443,844,000. Capital World Investors raised its holdings in shares of Constellation Brands by 8.7% in the 1st quarter. Capital World Investors now owns 9,040,669 shares of the company’s stock worth $2,456,892,000 after purchasing an additional 723,549 shares during the period. Boston Partners purchased a new position in Constellation Brands in the fourth quarter valued at approximately $156,358,000. Finally, Manning & Napier Advisors LLC bought a new position in Constellation Brands during the second quarter valued at $119,394,000. 77.34% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Constellation Brands news, CFO Garth Hankinson sold 13,583 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $240.00, for a total transaction of $3,259,920.00. Following the sale, the chief financial officer now owns 11,702 shares in the company, valued at $2,808,480. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Kaneenat Kristann Carey sold 977 shares of the company’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $261.00, for a total value of $254,997.00. Following the completion of the sale, the executive vice president now owns 2,706 shares of the company’s stock, valued at approximately $706,266. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Garth Hankinson sold 13,583 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $240.00, for a total transaction of $3,259,920.00. Following the completion of the sale, the chief financial officer now directly owns 11,702 shares of the company’s stock, valued at $2,808,480. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,414 shares of company stock worth $3,982,922. Corporate insiders own 12.19% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. Roth Mkm lowered their target price on Constellation Brands from $305.00 to $303.00 and set a “buy” rating on the stock in a research note on Friday, July 5th. BMO Capital Markets restated an “outperform” rating and issued a $315.00 price objective on shares of Constellation Brands in a research note on Friday, July 5th. Jefferies Financial Group increased their target price on shares of Constellation Brands from $310.00 to $311.00 and gave the stock a “buy” rating in a research report on Friday, July 5th. JPMorgan Chase & Co. boosted their price target on shares of Constellation Brands from $291.00 to $320.00 and gave the company an “overweight” rating in a research report on Friday, July 5th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $308.00 price target on shares of Constellation Brands in a research note on Wednesday, July 31st. Three research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, Constellation Brands has a consensus rating of “Moderate Buy” and a consensus price target of $300.28.

Constellation Brands Price Performance

Shares of NYSE:STZ traded down $0.31 on Thursday, hitting $244.43. The company’s stock had a trading volume of 16,872 shares, compared to its average volume of 1,174,338. Constellation Brands, Inc. has a 1 year low of $227.50 and a 1 year high of $274.87. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.19 and a quick ratio of 0.53. The company has a market capitalization of $44.72 billion, a PE ratio of 18.24, a PEG ratio of 1.62 and a beta of 1.75. The company has a 50-day simple moving average of $250.39 and a 200 day simple moving average of $253.82.

Constellation Brands (NYSE:STZ) last announced its earnings results 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. Constellation Brands had a net margin of 22.70% and a return on equity of 23.72%. The business had revenue of $2.66 billion for the quarter, compared to the consensus estimate of $2.67 billion. During the same period last year, the firm posted $2.91 earnings per share. Constellation Brands’s quarterly revenue was up 5.8% on a year-over-year basis. Sell-side 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 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 1.65%. The ex-dividend date of this dividend is Wednesday, August 14th. Constellation Brands’s dividend payout ratio is currently 30.10%.

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.