Spire Wealth Management Trims Stake in Constellation Brands, Inc. (NYSE:STZ)

Spire Wealth Management decreased its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 2.5% during the fourth quarter, HoldingsChannel reports. 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 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Morgan Stanley raised its position in Constellation Brands by 1.5% during the 3rd quarter. Morgan Stanley now owns 4,050,468 shares of the company’s stock valued at $1,018,005,000 after purchasing an additional 58,518 shares in the last quarter. Northern Trust Corp lifted its holdings in Constellation Brands by 3.7% during the third quarter. Northern Trust Corp now owns 1,499,035 shares of the company’s stock worth $376,752,000 after buying an additional 53,862 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Constellation Brands by 9.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,015,105 shares of the company’s stock valued at $255,126,000 after acquiring an additional 85,330 shares in the last quarter. Darsana Capital Partners LP increased its holdings in shares of Constellation Brands by 288.9% in the 3rd quarter. Darsana Capital Partners LP now owns 875,000 shares of the company’s stock valued at $219,914,000 after acquiring an additional 650,000 shares during the period. Finally, Grantham Mayo Van Otterloo & Co. LLC grew its stake in Constellation Brands by 9.9% in the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 800,686 shares of the company’s stock valued at $201,236,000 after purchasing an additional 71,979 shares during the last quarter. 77.34% of the stock is owned by institutional investors.

Insider Activity

In other Constellation Brands news, CEO William A. Newlands sold 4,013 shares of Constellation Brands stock in a transaction on 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 sale, the chief executive officer now owns 5,395 shares in the company, valued at $1,420,233.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Constellation Brands news, CEO William A. Newlands sold 4,013 shares of Constellation Brands 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Michael Mcgrew sold 3,237 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $255.50, for a total transaction of $827,053.50. Following the completion of the sale, the executive vice president now directly owns 1,731 shares in the company, 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 valued at $6,043,821 in the last 90 days. Company insiders own 16.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Roth Mkm restated a “buy” rating and issued a $305.00 price target on shares of Constellation Brands in a report on Friday, April 12th. Jefferies Financial Group increased their price objective on shares of Constellation Brands from $292.00 to $314.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. Wedbush restated an “outperform” rating and issued a $300.00 price objective on shares of Constellation Brands in a research report on Wednesday, April 10th. Evercore ISI lifted their target price on shares of Constellation Brands from $300.00 to $310.00 and gave the company an “outperform” rating in a report on Friday, April 12th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Constellation Brands from $256.00 to $262.00 and gave the stock a “hold” rating in a report on Wednesday, April 10th. Three equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $298.55.

Constellation Brands Price Performance

Constellation Brands stock opened at $258.36 on Thursday. The company has a fifty day simple moving average of $261.27 and a 200-day simple moving average of $249.24. The company has a quick ratio of 0.53, a current ratio of 1.19 and a debt-to-equity ratio of 1.06. The firm has a market capitalization of $47.27 billion, a price-to-earnings ratio of 27.54, a PEG ratio of 1.73 and a beta of 1.75. Constellation Brands, Inc. has a 52-week low of $223.01 and a 52-week high of $274.87.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings results on Thursday, April 11th. The company reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.10 by $0.16. Constellation Brands had a return on equity of 23.06% and a net margin of 16.13%. The business had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.09 billion. During the same period in the prior year, the business earned $1.98 earnings per share. The business’s revenue was up 7.1% compared to the same quarter last year. On average, equities analysts anticipate 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. Investors of record on Friday, May 3rd will be issued a $1.01 dividend. The ex-dividend date is Thursday, May 2nd. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.56%. This is a positive change from Constellation Brands’s previous quarterly dividend of $0.89. Constellation Brands’s dividend payout ratio is currently 43.07%.

Constellation Brands Company 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.