Linscomb Wealth Inc. Decreases Stock Holdings in Constellation Brands Inc $STZ

Linscomb Wealth Inc. lowered its stake in shares of Constellation Brands Inc (NYSE:STZ) by 88.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,467 shares of the company’s stock after selling 11,071 shares during the period. Linscomb Wealth Inc.’s holdings in Constellation Brands were worth $202,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Stance Capital LLC purchased a new stake in Constellation Brands during the third quarter worth about $26,000. GoalVest Advisory LLC purchased a new stake in Constellation Brands during the fourth quarter worth about $28,000. Elyxium Wealth LLC purchased a new stake in Constellation Brands during the fourth quarter worth about $33,000. Mowery & Schoenfeld Wealth Management LLC purchased a new stake in Constellation Brands during the fourth quarter worth about $39,000. Finally, Accredited Wealth Management LLC boosted its holdings in Constellation Brands by 572.3% during the third quarter. Accredited Wealth Management LLC now owns 316 shares of the company’s stock worth $43,000 after buying an additional 269 shares in the last quarter. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Constellation Brands Stock Performance

Shares of STZ opened at $138.78 on Friday. The company has a current ratio of 1.08, a quick ratio of 0.55 and a debt-to-equity ratio of 1.16. The stock has a market cap of $23.90 billion, a P/E ratio of 14.47, a PEG ratio of 3.05 and a beta of 0.43. The company has a 50-day moving average of $152.10 and a two-hundred day moving average of $149.14. Constellation Brands Inc has a 12-month low of $126.45 and a 12-month high of $180.41.

Constellation Brands (NYSE:STZ) last announced its earnings results on Wednesday, April 8th. The company reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.71 by $0.19. The company had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.84 billion. Constellation Brands had a net margin of 17.29% and a return on equity of 26.18%. The firm’s quarterly revenue was down 11.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.63 earnings per share. As a group, research analysts predict that Constellation Brands Inc will post 11.9 EPS for the current fiscal year.

Constellation Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Wednesday, April 29th were given a $1.03 dividend. This is a boost from Constellation Brands’s previous quarterly dividend of $1.02. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend was Wednesday, April 29th. Constellation Brands’s dividend payout ratio (DPR) is presently 42.96%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on STZ shares. Needham & Company LLC boosted their price objective on shares of Constellation Brands from $180.00 to $185.00 and gave the stock a “buy” rating in a report on Friday, April 10th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Constellation Brands from $154.00 to $155.00 and gave the stock a “hold” rating in a research report on Friday, April 10th. Morgan Stanley lifted their target price on shares of Constellation Brands from $160.00 to $183.00 and gave the stock an “equal weight” rating in a research report on Friday, April 10th. Piper Sandler lifted their target price on shares of Constellation Brands from $146.00 to $160.00 and gave the stock a “neutral” rating in a research report on Friday, April 10th. Finally, Barclays lifted their target price on shares of Constellation Brands from $151.00 to $170.00 and gave the stock an “equal weight” rating in a research report on Friday, April 10th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Constellation Brands has an average rating of “Moderate Buy” and an average target price of $175.26.

Insider Buying and Selling at Constellation Brands

In other news, EVP James O. Bourdeau sold 4,407 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $143.24, for a total value of $631,258.68. Following the completion of the transaction, the executive vice president owned 9,109 shares of the company’s stock, valued at $1,304,773.16. The trade was a 32.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 12.45% of the stock is currently owned by corporate insiders.

About Constellation Brands

Constellation Brands, Inc is a leading producer and marketer of beer, wine and spirits, with operations spanning production, importation, marketing and distribution. The company’s beverage portfolio includes a range of premium and mainstream wines and spirits alongside major imported beer brands; in the U.S. market Constellation is widely known for its role in bringing Mexican imports such as Corona and Modelo to American consumers. Constellation supplies retail, on‑premise and foodservice channels and supports its brands with national sales and marketing platforms and supply‑chain capabilities.

The company traces its roots to the Canandaigua Wine Company, founded by Marvin Sands in 1945, and evolved through organic growth and acquisition into a diversified beverage company.