Spire Wealth Management Sells 103 Shares of Constellation Brands, Inc. (NYSE:STZ)

Spire Wealth Management lessened its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 2.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,096 shares of the company’s stock after selling 103 shares during the period. Spire Wealth Management’s holdings in Constellation Brands were worth $1,040,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of STZ. BKM Wealth Management LLC acquired a new position in Constellation Brands during the fourth quarter worth approximately $28,000. Asset Dedication LLC raised its stake in Constellation Brands by 3,833.3% in the 3rd quarter. Asset Dedication LLC now owns 118 shares of the company’s stock valued at $30,000 after acquiring an additional 115 shares during the period. Turtle Creek Wealth Advisors LLC acquired a new stake in Constellation Brands during the 4th quarter valued at $37,000. Annis Gardner Whiting Capital Advisors LLC bought a new position in Constellation Brands during the third quarter worth $41,000. Finally, Exchange Traded Concepts LLC acquired a new position in shares of Constellation Brands in the fourth quarter valued at $45,000. 77.34% of the stock is owned by institutional investors and hedge funds.

Constellation Brands Trading Down 0.1 %

Shares of STZ stock opened at $258.36 on Thursday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.53 and a current ratio of 1.19. Constellation Brands, Inc. has a fifty-two week low of $223.01 and a fifty-two week high of $274.87. The company has a market cap of $47.27 billion, a PE ratio of 27.54, a P/E/G ratio of 1.73 and a beta of 1.75. The stock’s fifty day moving average price is $261.27 and its two-hundred day moving average price is $249.24.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings results on Thursday, April 11th. The company reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates of $2.10 by $0.16. The company had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.09 billion. Constellation Brands had a net margin of 16.13% and a return on equity of 23.06%. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period last year, the company posted $1.98 EPS. Equities analysts predict that Constellation Brands, Inc. will post 13.51 EPS for the current fiscal year.

Constellation Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Friday, May 3rd will be paid a $1.01 dividend. The ex-dividend date is Thursday, May 2nd. This represents a $4.04 annualized dividend and a dividend yield of 1.56%. This is an increase from Constellation Brands’s previous quarterly dividend of $0.89. Constellation Brands’s dividend payout ratio is currently 43.07%.

Analyst Ratings Changes

STZ has been the subject of several research analyst reports. Wedbush reaffirmed an “outperform” rating and set a $300.00 target price on shares of Constellation Brands in a report on Wednesday, April 10th. HSBC upped their target price on Constellation Brands from $290.00 to $300.00 and gave the company a “buy” rating in a research report on Friday, April 12th. 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 for the company. UBS Group increased their price objective on Constellation Brands from $312.00 to $320.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Finally, Jefferies Financial Group boosted their target price on shares of Constellation Brands from $292.00 to $314.00 and gave the company a “buy” rating in a research report on Friday, April 12th. Three investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat.com, Constellation Brands presently has a consensus rating of “Moderate Buy” and an average target price of $298.55.

Insider Activity 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 stock was 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 sale was disclosed in a legal filing with the SEC, which is available at this link. In other Constellation Brands news, CEO William A. Newlands sold 4,013 shares of the company’s stock in a transaction on 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 sale, the chief executive officer now owns 5,395 shares of the company’s stock, valued at $1,420,233.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Michael Mcgrew sold 3,237 shares of Constellation Brands stock in a transaction dated 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 transaction, the executive vice president now directly owns 1,731 shares of the company’s stock, valued at $442,270.50. The disclosure for this sale can be found here. Insiders sold a total of 23,031 shares of company stock worth $6,043,821 in the last quarter. 16.19% of the stock is owned by insiders.

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.