Forvis Mazars Wealth Advisors LLC Buys 943 Shares of Constellation Brands Inc (NYSE:STZ)

Forvis Mazars Wealth Advisors LLC grew its stake in Constellation Brands Inc (NYSE:STZ) by 8.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,664 shares of the company’s stock after purchasing an additional 943 shares during the quarter. Forvis Mazars Wealth Advisors LLC’s holdings in Constellation Brands were worth $2,141,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of STZ. Harbor Capital Advisors Inc. boosted its position in shares of Constellation Brands by 36.4% in the first quarter. Harbor Capital Advisors Inc. now owns 3,051 shares of the company’s stock valued at $560,000 after acquiring an additional 815 shares during the period. Golden State Wealth Management LLC boosted its position in shares of Constellation Brands by 137.0% in the first quarter. Golden State Wealth Management LLC now owns 2,204 shares of the company’s stock valued at $405,000 after acquiring an additional 1,274 shares during the period. Oppenheimer Asset Management Inc. boosted its position in shares of Constellation Brands by 28.9% in the first quarter. Oppenheimer Asset Management Inc. now owns 7,360 shares of the company’s stock valued at $1,351,000 after acquiring an additional 1,651 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of Constellation Brands by 7.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 17,206 shares of the company’s stock valued at $3,180,000 after acquiring an additional 1,185 shares during the period. Finally, Bessemer Group Inc. lifted its position in Constellation Brands by 3.0% during the first quarter. Bessemer Group Inc. now owns 2,242 shares of the company’s stock worth $412,000 after purchasing an additional 65 shares during the period. 77.34% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

STZ has been the subject of several recent analyst reports. UBS Group upped their price objective on shares of Constellation Brands from $195.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, July 3rd. Raymond James Financial raised shares of Constellation Brands to a “strong-buy” rating in a research report on Monday, July 7th. Piper Sandler upped their price objective on shares of Constellation Brands from $165.00 to $170.00 and gave the stock a “neutral” rating in a research report on Friday, June 6th. Roth Capital cut their price objective on shares of Constellation Brands from $256.00 to $239.00 and set a “buy” rating for the company in a research report on Tuesday, May 20th. Finally, Wall Street Zen raised shares of Constellation Brands from a “sell” rating to a “hold” rating in a research report on Tuesday, May 20th. Eleven research 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 company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $213.74.

Constellation Brands Stock Performance

Constellation Brands stock opened at $168.26 on Friday. The company has a market capitalization of $29.66 billion, a P/E ratio of -70.40, a P/E/G ratio of 10.18 and a beta of 0.67. The business has a 50 day moving average of $168.67 and a 200-day moving average of $176.35. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.07 and a quick ratio of 0.68. Constellation Brands Inc has a 1 year low of $159.35 and a 1 year high of $261.06.

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

Constellation Brands Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Wednesday, July 30th were given a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend was Wednesday, July 30th. Constellation Brands’s dividend payout ratio is currently -170.71%.

Insiders Place Their Bets

In other Constellation Brands news, EVP James O. Bourdeau sold 821 shares of the stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $169.00, for a total transaction 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. This represents a 8.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 12.45% 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.