B. Riley Wealth Advisors Inc. Trims Position in Constellation Brands, Inc. (NYSE:STZ)

B. Riley Wealth Advisors Inc. trimmed its stake in Constellation Brands, Inc. (NYSE:STZ) by 10.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,109 shares of the company’s stock after selling 996 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Constellation Brands were worth $2,086,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. New Millennium Group LLC bought a new position in Constellation Brands in the second quarter worth approximately $25,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Constellation Brands during the 2nd quarter worth $29,000. Horizon Bancorp Inc. IN bought a new stake in shares of Constellation Brands in the second quarter valued at about $32,000. YHB Investment Advisors Inc. purchased a new stake in Constellation Brands in the first quarter worth about $35,000. Finally, First Financial Corp IN purchased a new stake in Constellation Brands in the first quarter worth about $35,000. 77.34% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. JPMorgan Chase & Co. reduced their price target on shares of Constellation Brands from $320.00 to $307.00 and set an “overweight” rating for the company in a report on Tuesday, September 3rd. 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 note on Monday, September 9th. Roth Mkm dropped their target price on Constellation Brands from $303.00 to $298.00 and set a “buy” rating on the stock in a research report on Wednesday, September 4th. Truist Financial reiterated a “hold” rating and issued a $265.00 price target on shares of Constellation Brands in a report on Wednesday, July 3rd. Finally, BMO Capital Markets restated an “outperform” rating and set a $315.00 price objective on shares of Constellation Brands in a research note on Friday, July 5th. Three equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $297.12.

Constellation Brands Stock Performance

Shares of STZ stock opened at $257.62 on Wednesday. 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 business has a fifty day moving average of $246.61 and a 200 day moving average of $253.69. The firm has a market capitalization of $47.14 billion, a price-to-earnings ratio of 19.20, a price-to-earnings-growth ratio of 1.74 and a beta of 1.75. Constellation Brands, Inc. has a 1 year low of $227.50 and a 1 year high of $274.87.

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

Insider Buying and Selling at Constellation Brands

In related news, EVP Kaneenat Kristann Carey sold 977 shares of the firm’s 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 completion of the transaction, the executive vice president now owns 2,706 shares of the company’s stock, valued at $706,266. The sale was disclosed in a filing with the SEC, 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 dated Friday, July 12th. The stock was sold at an average price of $261.00, for a total value of $254,997.00. Following the sale, the executive vice president now owns 2,706 shares in the company, valued at $706,266. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 value of $3,259,920.00. Following the sale, the chief financial officer now directly owns 11,702 shares in the company, valued at $2,808,480. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,414 shares of company stock worth $3,982,922. Company 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.