Empower Advisory Group LLC Purchases 101 Shares of Constellation Brands, Inc. (NYSE:STZ)

Empower Advisory Group LLC increased its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 8.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,330 shares of the company’s stock after buying an additional 101 shares during the quarter. Empower Advisory Group LLC’s holdings in Constellation Brands were worth $343,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in STZ. New Millennium Group LLC acquired a new stake in Constellation Brands in the 2nd quarter valued at $25,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Constellation Brands during the second quarter worth about $29,000. Horizon Bancorp Inc. IN acquired a new stake in shares of Constellation Brands in the 2nd quarter worth about $32,000. LRI Investments LLC acquired a new stake in shares of Constellation Brands in the 1st quarter worth about $37,000. Finally, Opal Wealth Advisors LLC acquired a new position in Constellation Brands during the 2nd quarter valued at about $36,000. Institutional investors and hedge funds own 77.34% of the company’s stock.

Constellation Brands Stock Performance

NYSE STZ opened at $241.99 on Friday. The firm has a market cap of $43.94 billion, a P/E ratio of 78.31, a price-to-earnings-growth ratio of 1.68 and a beta of 0.90. The company has a quick ratio of 0.53, a current ratio of 1.25 and a debt-to-equity ratio of 1.31. The company’s 50 day moving average is $244.49 and its 200-day moving average is $248.30. Constellation Brands, Inc. has a 12-month low of $224.76 and a 12-month high of $274.87.

Constellation Brands (NYSE:STZ) last issued its earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.08 by $0.24. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. The business had revenue of $2.92 billion for the quarter, compared to analysts’ expectations of $2.95 billion. During the same quarter in the previous year, the firm posted $3.70 EPS. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. Sell-side analysts predict that Constellation Brands, Inc. will post 13.57 earnings per share for the current year.

Constellation Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th will be issued a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date of this dividend is Tuesday, November 5th. Constellation Brands’s payout ratio is presently 130.74%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Roth Mkm reissued a “buy” rating and issued a $298.00 price objective on shares of Constellation Brands in a research note on Friday, October 4th. Royal Bank of Canada restated an “outperform” rating and set a $308.00 price objective on shares of Constellation Brands in a research note on Friday, October 4th. Barclays reduced their target price on shares of Constellation Brands from $309.00 to $300.00 and set an “overweight” rating for the company in a research note on Monday, October 7th. Evercore ISI dropped their price target on shares of Constellation Brands from $310.00 to $300.00 and set an “outperform” rating on the stock in a research report on Friday, October 4th. Finally, Truist Financial reduced their price objective on shares of Constellation Brands from $265.00 to $255.00 and set a “hold” rating for the company in a research report on Friday, October 4th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Constellation Brands currently has a consensus rating of “Moderate Buy” and an average price target of $290.47.

Insider Activity

In other news, EVP Samuel J. Glaetzer sold 1,510 shares of Constellation Brands stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $245.57, for a total transaction of $370,810.70. Following the completion of the sale, the executive vice president now owns 4,970 shares in the company, valued at approximately $1,220,482.90. This trade represents a 23.30 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Robert Sands sold 119,274 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $242.37, for a total transaction of $28,908,439.38. Following the completion of the transaction, the director now owns 431,729 shares in the company, valued at approximately $104,638,157.73. This trade represents a 21.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 128,210 shares of company stock worth $31,040,994 over the last ninety days. Company insiders own 12.19% of the company’s stock.

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.