Alaethes Wealth LLC Buys 158 Shares of Constellation Brands, Inc. (NYSE:STZ)

Alaethes Wealth LLC boosted its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 3.4% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 4,812 shares of the company’s stock after buying an additional 158 shares during the quarter. Alaethes Wealth LLC’s holdings in Constellation Brands were worth $1,238,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in STZ. Sei Investments Co. boosted its holdings in Constellation Brands by 3.0% in the second quarter. Sei Investments Co. now owns 181,665 shares of the company’s stock valued at $46,739,000 after acquiring an additional 5,262 shares during the last quarter. AE Wealth Management LLC lifted its position in shares of Constellation Brands by 10.2% in the 2nd quarter. AE Wealth Management LLC now owns 1,530 shares of the company’s stock worth $394,000 after purchasing an additional 142 shares during the period. King Luther Capital Management Corp boosted its stake in shares of Constellation Brands by 14.1% in the 2nd quarter. King Luther Capital Management Corp now owns 1,255 shares of the company’s stock valued at $323,000 after purchasing an additional 155 shares during the last quarter. Benjamin Edwards Inc. increased its position in shares of Constellation Brands by 3,785.0% during the second quarter. Benjamin Edwards Inc. now owns 1,554 shares of the company’s stock worth $400,000 after buying an additional 1,514 shares during the period. Finally, Benjamin F. Edwards & Company Inc. raised its stake in Constellation Brands by 14.1% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 3,118 shares of the company’s stock worth $802,000 after buying an additional 385 shares during the last quarter. Institutional investors own 77.34% of the company’s stock.

Constellation Brands Stock Down 0.1 %

Shares of NYSE STZ opened at $248.09 on Friday. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.19 and a quick ratio of 0.53. Constellation Brands, Inc. has a 1 year low of $227.50 and a 1 year high of $274.87. The stock has a market capitalization of $45.39 billion, a P/E ratio of 18.49, a P/E/G ratio of 1.69 and a beta of 1.75. The company has a 50-day moving average price of $245.42 and a 200-day moving average price of $253.90.

Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Wednesday, July 3rd. The company reported $3.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.46 by $0.11. The business had revenue of $2.66 billion during the quarter, compared to the consensus estimate of $2.67 billion. Constellation Brands had a return on equity of 23.72% and a net margin of 22.70%. The company’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.91 EPS. On average, equities research analysts forecast that Constellation Brands, Inc. will post 13.53 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Wednesday, August 14th were issued a dividend of $1.01 per share. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $4.04 annualized dividend and a yield of 1.63%. Constellation Brands’s dividend payout ratio (DPR) is currently 30.10%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on STZ shares. Barclays upped their price target on shares of Constellation Brands from $287.00 to $295.00 and gave the company an “overweight” rating in a research report on Friday, July 19th. Royal Bank of Canada restated an “outperform” rating and set a $308.00 target price on shares of Constellation Brands in a research report on Tuesday. JPMorgan Chase & Co. lowered their target price on Constellation Brands from $320.00 to $307.00 and set an “overweight” rating for the company in a report on Tuesday, September 3rd. Truist Financial reissued a “hold” rating and issued a $265.00 price target on shares of Constellation Brands in a research note on Wednesday, July 3rd. Finally, UBS Group reduced their price objective on shares of Constellation Brands from $320.00 to $295.00 and set a “buy” rating for the company in a research report on Monday, September 9th. Three investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Constellation Brands has a consensus rating of “Moderate Buy” and an average target price of $296.78.

Insider Activity at Constellation Brands

In other Constellation Brands news, EVP Kaneenat Kristann Carey sold 977 shares of Constellation Brands stock in a transaction on Friday, July 12th. The shares were sold at an average price of $261.00, for a total transaction of $254,997.00. Following the transaction, the executive vice president now directly owns 2,706 shares of the company’s stock, valued at approximately $706,266. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Daniel J. Mccarthy sold 1,854 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $252.43, for a total transaction of $468,005.22. Following the completion of the sale, the director now directly owns 3,232 shares of the company’s stock, valued at approximately $815,853.76. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Kaneenat Kristann Carey sold 977 shares of the stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $261.00, for a total transaction of $254,997.00. Following the transaction, the executive vice president now owns 2,706 shares of the company’s stock, valued at approximately $706,266. The disclosure for this sale can be found here. In the last three months, insiders sold 16,414 shares of company stock valued at $3,982,922. 12.19% of the stock is owned by insiders.

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.