Waterfront Wealth Inc. Grows Stake in Constellation Brands, Inc. (NYSE:STZ)

Waterfront Wealth Inc. increased its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 2.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,328 shares of the company’s stock after purchasing an additional 126 shares during the quarter. Waterfront Wealth Inc.’s holdings in Constellation Brands were worth $1,178,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Compagnie Lombard Odier SCmA bought a new stake in Constellation Brands during the fourth quarter valued at about $27,000. Union Bancaire Privee UBP SA purchased a new stake in shares of Constellation Brands in the fourth quarter worth about $28,000. Versant Capital Management Inc raised its position in Constellation Brands by 887.5% during the fourth quarter. Versant Capital Management Inc now owns 158 shares of the company’s stock valued at $35,000 after purchasing an additional 142 shares during the period. Eastern Bank purchased a new stake in Constellation Brands during the third quarter valued at approximately $39,000. Finally, FSA Wealth Management LLC purchased a new stake in shares of Constellation Brands in the third quarter worth approximately $42,000. Institutional investors own 77.34% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. StockNews.com raised Constellation Brands from a “sell” rating to a “hold” rating in a research note on Thursday, February 13th. Royal Bank of Canada reiterated an “outperform” rating and set a $293.00 price objective on shares of Constellation Brands in a report on Monday, February 3rd. Argus lowered Constellation Brands from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Barclays reduced their price objective on Constellation Brands from $282.00 to $214.00 and set an “overweight” rating for the company in a research note on Tuesday, January 14th. Finally, Truist Financial dropped their target price on Constellation Brands from $255.00 to $190.00 and set a “hold” rating on the stock in a research report on Tuesday, January 14th. Ten investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $254.29.

Constellation Brands Stock Down 0.1 %

STZ stock opened at $172.25 on Friday. The company has a current ratio of 1.10, a quick ratio of 0.46 and a debt-to-equity ratio of 1.26. The firm’s 50-day moving average is $195.56 and its two-hundred day moving average is $226.30. Constellation Brands, Inc. has a 52 week low of $160.46 and a 52 week high of $274.87. The company has a market capitalization of $31.13 billion, a price-to-earnings ratio of 46.30, a price-to-earnings-growth ratio of 1.49 and a beta of 0.90.

Constellation Brands (NYSE:STZ) last released its quarterly earnings data on Friday, January 10th. The company reported $3.25 earnings per share for the quarter, missing the consensus estimate of $3.33 by ($0.08). Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. The company had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.53 billion. During the same quarter in the prior year, the company posted $3.19 EPS. The firm’s quarterly revenue was down .3% compared to the same quarter last year. On average, analysts forecast that Constellation Brands, Inc. will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Friday, February 7th will be issued a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date of this dividend is Friday, February 7th. Constellation Brands’s dividend payout ratio (DPR) is presently 108.60%.

Insider Transactions at Constellation Brands

In other news, Director William T. Giles acquired 1,000 shares of the business’s stock in a transaction that occurred on Friday, January 17th. The stock was acquired at an average price of $186.39 per share, with a total value of $186,390.00. Following the completion of the transaction, the director now directly owns 1,463 shares of the company’s stock, valued at $272,688.57. This trade represents a 215.98 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 12.19% of the stock is owned by insiders.

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.