SVB Wealth LLC Buys 596 Shares of Constellation Brands, Inc. (NYSE:STZ)

SVB Wealth LLC grew its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 16.7% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 4,164 shares of the company’s stock after purchasing an additional 596 shares during the period. SVB Wealth LLC’s holdings in Constellation Brands were worth $1,007,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Impact Partnership Wealth LLC grew its holdings in shares of Constellation Brands by 1,175.0% in the third quarter. Impact Partnership Wealth LLC now owns 102 shares of the company’s stock valued at $26,000 after acquiring an additional 94 shares in the last quarter. BKM Wealth Management LLC bought a new position in shares of Constellation Brands in the fourth quarter valued at approximately $28,000. Asset Dedication LLC grew its holdings in shares of Constellation Brands by 3,833.3% in the third quarter. Asset Dedication LLC now owns 118 shares of the company’s stock valued at $30,000 after acquiring an additional 115 shares in the last quarter. Resurgent Financial Advisors LLC bought a new position in shares of Constellation Brands in the fourth quarter valued at approximately $34,000. Finally, Turtle Creek Wealth Advisors LLC bought a new position in shares of Constellation Brands in the fourth quarter valued at approximately $37,000. 77.34% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on STZ. Jefferies Financial Group upped their target price on Constellation Brands from $292.00 to $314.00 and gave the company a “buy” rating in a report on Friday, April 12th. Evercore ISI upped their price objective on Constellation Brands from $300.00 to $310.00 and gave the company an “outperform” rating in a research note on Friday, April 12th. HSBC upped their price objective on Constellation Brands from $290.00 to $300.00 and gave the company a “buy” rating in a research note on Friday, April 12th. TheStreet downgraded Constellation Brands from a “b” rating to a “c+” rating in a research note on Friday, January 5th. Finally, Bank of America upped their price objective on Constellation Brands from $290.00 to $300.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Three investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $298.55.

Constellation Brands Trading Up 0.8 %

Shares of STZ stock opened at $260.70 on Friday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.53 and a current ratio of 1.19. Constellation Brands, Inc. has a 52-week low of $221.81 and a 52-week high of $274.87. The company has a market capitalization of $47.66 billion, a PE ratio of 27.79, a price-to-earnings-growth ratio of 1.74 and a beta of 0.97. The business’s fifty day moving average is $258.19 and its 200 day moving average is $247.29.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings data on Thursday, April 11th. The company reported $2.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.10 by $0.16. Constellation Brands had a return on equity of 23.06% and a net margin of 16.13%. The company had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.09 billion. During the same quarter last year, the business posted $1.98 earnings per share. The firm’s revenue was up 7.1% compared to the same quarter last year. On average, equities research analysts anticipate that Constellation Brands, Inc. will post 13.51 EPS for the current fiscal year.

Constellation Brands Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Friday, May 3rd will be given a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date is Thursday, May 2nd. This is an increase from Constellation Brands’s previous quarterly dividend of $0.89. Constellation Brands’s dividend payout ratio (DPR) is 37.95%.

Insider Buying and Selling

In related news, EVP James A. Jr. Sabia sold 15,781 shares of the stock in a transaction on Friday, April 12th. The stock was sold at an average price of $263.63, for a total value of $4,160,345.03. Following the transaction, the executive vice president now owns 20,910 shares of the company’s stock, valued at $5,512,503.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 16.19% of the stock is currently owned by company insiders.

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 Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Victoria, Vicky Chamoy, and Pacifico brands.