Constellation Brands, Inc. (NYSE:STZ) Shares Sold by Alpha Omega Wealth Management LLC

Alpha Omega Wealth Management LLC cut its position in shares of Constellation Brands, Inc. (NYSE:STZ - Free Report) by 32.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,027 shares of the company's stock after selling 5,347 shares during the period. Alpha Omega Wealth Management LLC's holdings in Constellation Brands were worth $2,024,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of STZ. Berkshire Hathaway Inc purchased a new position in Constellation Brands during the 4th quarter worth $1,242,976,000. Norges Bank bought a new stake in shares of Constellation Brands in the fourth quarter valued at about $445,883,000. Vanguard Group Inc. lifted its stake in Constellation Brands by 13.3% in the fourth quarter. Vanguard Group Inc. now owns 15,534,787 shares of the company's stock worth $3,433,188,000 after acquiring an additional 1,821,969 shares during the period. D1 Capital Partners L.P. grew its holdings in Constellation Brands by 186.6% during the 4th quarter. D1 Capital Partners L.P. now owns 1,527,689 shares of the company's stock worth $337,619,000 after acquiring an additional 994,639 shares in the last quarter. Finally, Van ECK Associates Corp grew its holdings in Constellation Brands by 1,844.7% during the 4th quarter. Van ECK Associates Corp now owns 924,274 shares of the company's stock worth $204,265,000 after acquiring an additional 876,745 shares in the last quarter. Institutional investors own 77.34% of the company's stock.

Insider Activity at Constellation Brands

In related news, EVP Samuel J. Glaetzer sold 3,150 shares of the business's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $188.54, for a total transaction of $593,901.00. Following the transaction, the executive vice president now directly owns 3,126 shares in the company, valued at $589,376.04. The trade was a 50.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 12.19% of the stock is currently owned by company insiders.

Constellation Brands Stock Performance

Shares of Constellation Brands stock traded down $5.12 during trading hours on Friday, hitting $164.69. 1,942,365 shares of the company's stock traded hands, compared to its average volume of 1,809,371. The company has a fifty day simple moving average of $183.33 and a 200-day simple moving average of $191.77. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.10 and a quick ratio of 0.46. The stock has a market capitalization of $29.32 billion, a price-to-earnings ratio of 44.27, a PEG ratio of 1.52 and a beta of 1.75. Constellation Brands, Inc. has a 12-month low of $160.46 and a 12-month high of $265.70.

Constellation Brands (NYSE:STZ - Get Free Report) last posted its quarterly earnings results on Wednesday, April 9th. The company reported $2.63 EPS for the quarter, topping analysts' consensus estimates of $2.28 by $0.35. The firm had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.14 billion. Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The business's revenue for the quarter was up 1.2% on a year-over-year basis. During the same period last year, the company earned $2.26 earnings per share. Equities research analysts anticipate that Constellation Brands, Inc. will post 13.5 EPS for the current fiscal year.

Constellation Brands Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Tuesday, April 29th were paid a $1.02 dividend. This represents a $4.08 annualized dividend and a yield of 2.48%. The ex-dividend date was Tuesday, April 29th. This is an increase from Constellation Brands's previous quarterly dividend of $1.01. Constellation Brands's dividend payout ratio (DPR) is currently -800.00%.

Wall Street Analyst Weigh In

A number of brokerages have commented on STZ. JPMorgan Chase & Co. reduced their target price on shares of Constellation Brands from $203.00 to $194.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Truist Financial upgraded shares of Constellation Brands from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $190.00 to $215.00 in a research note on Wednesday, May 7th. DA Davidson decreased their price objective on Constellation Brands from $272.00 to $241.00 in a report on Friday, April 11th. Bernstein Bank dropped their target price on Constellation Brands from $260.00 to $225.00 and set an "outperform" rating on the stock in a research note on Thursday, April 10th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $215.00 price target on shares of Constellation Brands in a research note on Thursday, April 10th. Eleven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $220.00.

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.