First Horizon Advisors Inc. Boosts Stock Position in Constellation Brands, Inc. (NYSE:STZ)

First Horizon Advisors Inc. grew its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 11.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,758 shares of the company’s stock after acquiring an additional 373 shares during the period. First Horizon Advisors Inc.’s holdings in Constellation Brands were worth $909,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. BKM Wealth Management LLC purchased a new stake in shares of Constellation Brands during the fourth quarter worth $28,000. Asset Dedication LLC raised its position in shares of Constellation Brands by 3,833.3% in the third quarter. Asset Dedication LLC now owns 118 shares of the company’s stock worth $30,000 after buying an additional 115 shares in the last quarter. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Constellation Brands in the fourth quarter worth $37,000. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Constellation Brands in the third quarter worth $41,000. Finally, Exchange Traded Concepts LLC purchased a new stake in shares of Constellation Brands in the fourth quarter worth $45,000. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Constellation Brands Stock Up 0.8 %

Shares of NYSE:STZ opened at $256.08 on Friday. The stock’s 50-day moving average price is $260.83 and its 200-day moving average price is $248.69. Constellation Brands, Inc. has a 12-month low of $221.81 and a 12-month high of $274.87. The stock has a market capitalization of $46.82 billion, a P/E ratio of 27.30, a price-to-earnings-growth ratio of 1.73 and a beta of 0.95. The company has a current ratio of 1.19, a quick ratio of 0.53 and a debt-to-equity ratio of 1.06.

Constellation Brands (NYSE:STZ) last posted its earnings results on Thursday, April 11th. The company reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates of $2.10 by $0.16. The company had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.09 billion. Constellation Brands had a net margin of 16.13% and a return on equity of 23.06%. Constellation Brands’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.98 earnings per share. On average, equities analysts anticipate that Constellation Brands, Inc. will post 13.51 earnings per share for the current year.

Constellation Brands Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Friday, May 3rd will be issued a dividend of $1.01 per share. This is a positive change from Constellation Brands’s previous quarterly dividend of $0.89. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date is Thursday, May 2nd. Constellation Brands’s dividend payout ratio is currently 43.07%.

Insider Transactions at Constellation Brands

In other news, CEO William A. Newlands sold 4,013 shares of the stock in a transaction dated Friday, April 19th. The shares were sold at an average price of $263.25, for a total transaction of $1,056,422.25. Following the completion of the sale, the chief executive officer now directly owns 5,395 shares in the company, valued at $1,420,233.75. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Constellation Brands news, CEO William A. Newlands sold 4,013 shares of the firm’s stock in a transaction dated 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 directly owns 5,395 shares in the company, valued at $1,420,233.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP James A. Jr. Sabia sold 15,781 shares of the firm’s stock in a transaction dated Friday, April 12th. The stock was 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 owns 20,910 shares of the company’s stock, valued at $5,512,503.30. The disclosure for this sale can be found here. 16.19% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on STZ. Argus upgraded Constellation Brands from a “hold” rating to a “buy” rating and set a $306.00 price objective on the stock in a research report on Monday, April 15th. Wedbush reiterated an “outperform” rating and issued a $300.00 price objective on shares of Constellation Brands in a research report on Wednesday, April 10th. Royal Bank of Canada increased their price objective on Constellation Brands from $295.00 to $308.00 and gave the stock an “outperform” rating in a research report on Friday, April 12th. Barclays increased their price objective on Constellation Brands from $294.00 to $295.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Finally, Bank of America increased their price objective on Constellation Brands from $290.00 to $300.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Three analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Constellation Brands currently has a consensus rating of “Moderate Buy” and a consensus target price of $298.55.

Constellation Brands Profile

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.