Constellation Brands, Inc. (NYSE:STZ) Shares Purchased by Leo Wealth LLC

Leo Wealth LLC grew its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 15.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,724 shares of the company’s stock after acquiring an additional 500 shares during the quarter. Leo Wealth LLC’s holdings in Constellation Brands were worth $960,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Eastern Bank acquired a new position in Constellation Brands during the third quarter worth approximately $39,000. Magnolia Capital Management Ltd. grew its stake in shares of Constellation Brands by 6.0% during the 3rd quarter. Magnolia Capital Management Ltd. now owns 4,180 shares of the company’s stock valued at $1,077,000 after buying an additional 235 shares during the period. Sequoia Financial Advisors LLC increased its holdings in shares of Constellation Brands by 13.1% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 4,961 shares of the company’s stock worth $1,278,000 after buying an additional 573 shares during the last quarter. Oakworth Capital Inc. increased its holdings in shares of Constellation Brands by 4.4% during the 3rd quarter. Oakworth Capital Inc. now owns 989 shares of the company’s stock worth $255,000 after buying an additional 42 shares during the last quarter. Finally, Plimoth Trust Co. LLC raised its position in shares of Constellation Brands by 23.4% in the 3rd quarter. Plimoth Trust Co. LLC now owns 6,599 shares of the company’s stock worth $1,700,000 after buying an additional 1,252 shares during the period. Institutional investors and hedge funds own 77.34% of the company’s stock.

Constellation Brands Stock Up 0.4 %

STZ stock traded up $0.99 during mid-day trading on Tuesday, hitting $240.20. 542,761 shares of the company were exchanged, compared to its average volume of 1,189,665. The firm has a fifty day simple moving average of $246.52 and a 200 day simple moving average of $251.18. The company has a market capitalization of $43.95 billion, a PE ratio of 17.82, a price-to-earnings-growth ratio of 1.70 and a beta of 1.75. Constellation Brands, Inc. has a twelve month low of $227.64 and a twelve month high of $274.87. The company has a current ratio of 1.25, a quick ratio of 0.53 and a debt-to-equity ratio of 1.31.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings data on Thursday, October 3rd. The company reported $4.32 earnings per share for the quarter, beating the consensus estimate of $4.08 by $0.24. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The firm had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.95 billion. During the same period in the previous year, the company earned $3.70 earnings per share. Constellation Brands’s quarterly revenue was up 2.9% on a year-over-year basis. On average, research analysts forecast that Constellation Brands, Inc. will post 13.57 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th will be issued a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date of this dividend is Tuesday, November 5th. Constellation Brands’s dividend payout ratio is presently 30.10%.

Wall Street Analysts Forecast Growth

STZ has been the subject of a number of research reports. Royal Bank of Canada reissued an “outperform” rating and set a $308.00 price target on shares of Constellation Brands in a research report on Friday, October 4th. Roth Mkm restated a “buy” rating and issued a $298.00 price target on shares of Constellation Brands in a report on Friday, October 4th. Barclays dropped their price objective on shares of Constellation Brands from $309.00 to $300.00 and set an “overweight” rating for the company in a research report on Monday, October 7th. Truist Financial reduced their target price on shares of Constellation Brands from $265.00 to $255.00 and set a “hold” rating on the stock in a report on Friday, October 4th. Finally, UBS Group decreased their price target 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. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, Constellation Brands has an average rating of “Moderate Buy” and an average price target of $290.47.

Insiders Place Their Bets

In other news, Director Daniel J. Mccarthy sold 1,854 shares of Constellation Brands stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $252.43, for a total value of $468,005.22. Following the completion of the transaction, the director now directly owns 3,232 shares of the company’s stock, valued at approximately $815,853.76. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Daniel J. Mccarthy sold 1,854 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $252.43, for a total value of $468,005.22. Following the sale, the director now owns 3,232 shares of the company’s stock, valued at approximately $815,853.76. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Robert Sands sold 119,274 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $242.37, for a total value of $28,908,439.38. Following the transaction, the director now owns 431,729 shares of the company’s stock, valued at $104,638,157.73. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 136,221 shares of company stock valued at $33,007,175. 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.