RDA Financial Network Trims Holdings in Constellation Brands, Inc. (NYSE:STZ)

RDA Financial Network lowered its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 6.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,533 shares of the company’s stock after selling 109 shares during the period. RDA Financial Network’s holdings in Constellation Brands were worth $281,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of STZ. Mainstream Capital Management LLC purchased a new stake in shares of Constellation Brands in the fourth quarter valued at about $25,000. SBI Securities Co. Ltd. purchased a new stake in Constellation Brands during the 4th quarter valued at approximately $26,000. Compagnie Lombard Odier SCmA purchased a new stake in Constellation Brands during the 4th quarter valued at approximately $27,000. Union Bancaire Privee UBP SA acquired a new stake in Constellation Brands during the 4th quarter worth approximately $28,000. Finally, Minot DeBlois Advisors LLC purchased a new position in shares of Constellation Brands in the 4th quarter valued at approximately $29,000. 77.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on STZ. Citigroup cut their price target on Constellation Brands from $200.00 to $190.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. Truist Financial upgraded shares of Constellation Brands from a “hold” rating to a “buy” rating and set a $215.00 target price for the company in a research note on Wednesday, May 7th. Royal Bank of Canada dropped their price target on shares of Constellation Brands from $289.00 to $233.00 and set an “outperform” rating on the stock in a research note on Monday, April 14th. The Goldman Sachs Group cut their price target on shares of Constellation Brands from $260.00 to $225.00 and set a “buy” rating for the company in a report on Friday, April 11th. Finally, Wells Fargo & Company lowered their price objective on Constellation Brands from $230.00 to $210.00 and set an “overweight” rating on the stock in a report on Wednesday, April 2nd. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, Constellation Brands has a consensus rating of “Moderate Buy” and an average target price of $225.74.

Constellation Brands Price Performance

Constellation Brands stock opened at $171.88 on Monday. The firm has a market capitalization of $30.60 billion, a PE ratio of 46.20, a P/E/G ratio of 1.52 and a beta of 1.75. Constellation Brands, Inc. has a 52 week low of $160.46 and a 52 week high of $265.70. The firm’s 50-day simple moving average is $183.90 and its 200 day simple moving average is $193.05. The company has a quick ratio of 0.46, a current ratio of 1.10 and a debt-to-equity ratio of 1.26.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Wednesday, April 9th. The company reported $2.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.28 by $0.35. Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. The company had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.14 billion. During the same quarter in the prior year, the firm earned $2.26 earnings per share. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. On average, equities research analysts predict that Constellation Brands, Inc. will post 13.5 EPS for the current fiscal year.

Constellation Brands Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Tuesday, April 29th were given a dividend of $1.02 per share. This is an increase from Constellation Brands’s previous quarterly dividend of $1.01. The ex-dividend date of this dividend was Tuesday, April 29th. This represents a $4.08 annualized dividend and a yield of 2.37%. Constellation Brands’s dividend payout ratio (DPR) is presently -800.00%.

Insider Transactions at Constellation Brands

In related news, EVP Samuel J. Glaetzer sold 3,150 shares of Constellation Brands stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $188.54, for a total transaction of $593,901.00. Following the completion of the sale, the executive vice president now owns 3,126 shares in the company, valued at approximately $589,376.04. This trade represents a 50.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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.