Constellation Brands Inc (NYSE:STZ) Shares Bought by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC lifted its stake in Constellation Brands Inc (NYSE:STZ) by 82.3% in the first quarter, HoldingsChannel reports. The fund owned 4,040 shares of the company’s stock after purchasing an additional 1,824 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Constellation Brands were worth $741,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Constellation Brands by 18.6% in the 1st quarter. Vanguard Group Inc. now owns 18,417,604 shares of the company’s stock worth $3,379,999,000 after acquiring an additional 2,882,817 shares during the period. Capital World Investors lifted its stake in Constellation Brands by 3.4% during the fourth quarter. Capital World Investors now owns 9,755,602 shares of the company’s stock valued at $2,155,946,000 after purchasing an additional 324,690 shares during the last quarter. Berkshire Hathaway Inc acquired a new stake in Constellation Brands during the fourth quarter valued at approximately $1,242,976,000. Capital Research Global Investors lifted its stake 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 valued at $641,336,000 after purchasing an additional 18,557 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Constellation Brands by 7.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,922,122 shares of the company’s stock valued at $352,748,000 after purchasing an additional 139,158 shares during the last quarter. 77.34% of the stock is owned by institutional investors and hedge funds.

Constellation Brands Stock Down 0.7%

STZ stock opened at $168.26 on Friday. Constellation Brands Inc has a 12-month low of $159.35 and a 12-month high of $261.06. The company has a quick ratio of 0.68, a current ratio of 1.07 and a debt-to-equity ratio of 1.30. The company has a market cap of $29.66 billion, a price-to-earnings ratio of -70.40, a PEG ratio of 10.18 and a beta of 0.67. The company has a 50 day moving average of $168.67 and a two-hundred day moving average of $176.35.

Constellation Brands (NYSE:STZ) last released its earnings results on Tuesday, July 1st. The company reported $3.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.45 by ($0.23). Constellation Brands had a positive return on equity of 31.41% and a negative net margin of 4.11%. The company had revenue of $2.52 billion during the quarter, compared to analysts’ expectations of $2.57 billion. During the same quarter in the previous year, the company earned $3.57 EPS. The firm’s quarterly revenue was down 5.5% compared to the same quarter last year. On average, equities analysts anticipate that Constellation Brands Inc will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Wednesday, July 30th were paid a $1.02 dividend. This represents a $4.08 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend was Wednesday, July 30th. Constellation Brands’s payout ratio is presently -170.71%.

Insider Activity

In related news, EVP James O. Bourdeau sold 821 shares of Constellation Brands stock in a transaction on Monday, July 21st. The shares were sold at an average price of $169.00, for a total value of $138,749.00. Following the completion of the sale, the executive vice president owned 9,438 shares of the company’s stock, valued at approximately $1,595,022. The trade was a 8.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 12.45% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on STZ. The Goldman Sachs Group set a $225.00 target price on shares of Constellation Brands and gave the company a “buy” rating in a research note on Friday, June 27th. Piper Sandler increased their target price on shares of Constellation Brands from $165.00 to $170.00 and gave the company a “neutral” rating in a research note on Friday, June 6th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Constellation Brands from $191.00 to $185.00 and set a “hold” rating for the company in a research note on Thursday, June 5th. Wall Street Zen upgraded shares of Constellation Brands from a “sell” rating to a “hold” rating in a research report on Tuesday, May 20th. Finally, Barclays set a $202.00 price objective on shares of Constellation Brands and gave the stock an “overweight” rating in a research note on Thursday, June 26th. Eleven investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Constellation Brands presently has an average rating of “Moderate Buy” and a consensus price target of $213.74.

Constellation Brands 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.