Constellation Brands, Inc. (NYSE:STZ) Shares Sold by Daymark Wealth Partners LLC

Daymark Wealth Partners LLC trimmed its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 71.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,497 shares of the company’s stock after selling 3,778 shares during the period. Daymark Wealth Partners LLC’s holdings in Constellation Brands were worth $275,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Constellation Brands by 13.3% during the fourth quarter. Vanguard Group Inc. now owns 15,534,787 shares of the company’s stock worth $3,433,188,000 after buying an additional 1,821,969 shares in the last quarter. Capital World Investors boosted its holdings in Constellation Brands by 3.4% during the fourth quarter. Capital World Investors now owns 9,755,602 shares of the company’s stock worth $2,155,946,000 after buying an additional 324,690 shares in the last quarter. Berkshire Hathaway Inc bought a new stake in Constellation Brands during the fourth quarter worth approximately $1,242,976,000. Geode Capital Management LLC boosted its holdings in Constellation Brands by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 3,204,003 shares of the company’s stock worth $705,844,000 after buying an additional 63,323 shares in the last quarter. Finally, Capital Research Global Investors boosted its holdings in Constellation Brands by 0.6% during the fourth quarter. Capital Research Global Investors now owns 2,901,975 shares of the company’s stock worth $641,336,000 after buying an additional 18,557 shares in the last quarter. 77.34% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on STZ. Piper Sandler raised their target price on shares of Constellation Brands from $165.00 to $170.00 and gave the stock a “neutral” rating in a report on Friday, June 6th. Wells Fargo & Company decreased their price objective on shares of Constellation Brands from $230.00 to $210.00 and set an “overweight” rating for the company in a research note on Wednesday, April 2nd. Wall Street Zen raised shares of Constellation Brands from a “sell” rating to a “hold” rating in a research note on Tuesday, May 20th. Barclays raised their price objective on shares of Constellation Brands from $203.00 to $207.00 and gave the stock an “overweight” rating in a research note on Monday, April 14th. Finally, Bernstein Bank decreased their price objective on shares of Constellation Brands from $260.00 to $225.00 and set an “outperform” rating for the company in a research note on Thursday, April 10th. Eleven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $220.00.

Insider Activity

In related news, EVP Samuel J. Glaetzer sold 3,150 shares of Constellation Brands stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $188.54, for a total value of $593,901.00. Following the transaction, the executive vice president now owns 3,126 shares in the company, valued at $589,376.04. This trade represents a 50.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 12.19% of the stock is owned by insiders.

Constellation Brands Trading Down 1.5%

Shares of NYSE:STZ opened at $168.98 on Thursday. The firm has a market capitalization of $30.08 billion, a P/E ratio of 45.43, a price-to-earnings-growth ratio of 1.52 and a beta of 1.75. The firm has a fifty day moving average of $183.39 and a two-hundred day moving average of $192.27. 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, Inc. has a 12-month low of $160.46 and a 12-month high of $265.70.

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

Constellation Brands Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Tuesday, April 29th were issued a dividend of $1.02 per share. The ex-dividend date was Tuesday, April 29th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.41%. This is an increase from Constellation Brands’s previous quarterly dividend of $1.01. Constellation Brands’s dividend payout ratio (DPR) is currently -800.00%.

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.