Constellation Brands Inc (NYSE:STZ) Shares Acquired by Arkadios Wealth Advisors

Key Points

• Arkadios Wealth Advisors increased its stake in Constellation Brands by 156.0% during the first quarter, bringing its total holdings to 6,478 shares worth approximately $1.19 million.
• Brokerage firms have recently adjusted their price targets for Constellation Brands, with Royal Bank of Canada lowering its target from $289.00 to $233.00 while maintaining an "outperform" rating.
• Constellation Brands reported a quarterly EPS of $3.22, missing analysts' expectations of $3.45, and announced a dividend of $1.02 per share to be paid on August 14th.

Arkadios Wealth Advisors raised its holdings in shares of Constellation Brands Inc (NYSE:STZ - Free Report) by 156.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,478 shares of the company's stock after purchasing an additional 3,948 shares during the period. Arkadios Wealth Advisors' holdings in Constellation Brands were worth $1,189,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Harbor Capital Advisors Inc. grew its holdings in shares of Constellation Brands by 36.4% during the first quarter. Harbor Capital Advisors Inc. now owns 3,051 shares of the company's stock valued at $560,000 after buying an additional 815 shares during the last quarter. Golden State Wealth Management LLC grew its holdings in shares of Constellation Brands by 137.0% during the first quarter. Golden State Wealth Management LLC now owns 2,204 shares of the company's stock valued at $405,000 after buying an additional 1,274 shares during the last quarter. Oppenheimer Asset Management Inc. grew its holdings in shares of Constellation Brands by 28.9% during the first quarter. Oppenheimer Asset Management Inc. now owns 7,360 shares of the company's stock valued at $1,351,000 after buying an additional 1,651 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Constellation Brands by 7.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 17,206 shares of the company's stock valued at $3,180,000 after buying an additional 1,185 shares during the last quarter. Finally, Bessemer Group Inc. grew its holdings in shares of Constellation Brands by 3.0% during the first quarter. Bessemer Group Inc. now owns 2,242 shares of the company's stock valued at $412,000 after buying an additional 65 shares during the last quarter. 77.34% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on STZ. Royal Bank Of Canada dropped their price objective on shares of Constellation Brands from $289.00 to $233.00 and set an "outperform" rating on the stock in a report on Monday, April 14th. DA Davidson dropped their price objective on shares of Constellation Brands from $272.00 to $241.00 in a report on Friday, April 11th. Cowen reaffirmed a "hold" rating on shares of Constellation Brands in a report on Monday, July 7th. CJS Securities lowered their price target on shares of Constellation Brands from $196.00 to $194.00 in a report on Monday, May 19th. Finally, BMO Capital Markets lowered their price target on shares of Constellation Brands from $260.00 to $215.00 and set an "outperform" rating on the stock in a report on Friday, April 11th. Eleven equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Constellation Brands has an average rating of "Moderate Buy" and a consensus price target of $213.74.

Constellation Brands Stock Down 0.5%

STZ opened at $166.25 on Friday. The company has a market cap of $29.31 billion, a PE ratio of -69.56, a price-to-earnings-growth ratio of 10.11 and a beta of 1.75. The company has a quick ratio of 0.68, a current ratio of 1.07 and a debt-to-equity ratio of 1.30. Constellation Brands Inc has a twelve month low of $159.35 and a twelve month high of $261.06. The company has a 50-day moving average price of $170.18 and a 200 day moving average price of $177.27.

Constellation Brands (NYSE:STZ - Get Free Report) last released its quarterly earnings data on Tuesday, July 1st. The company reported $3.22 EPS for the quarter, missing analysts' consensus estimates of $3.45 by ($0.23). The business had revenue of $2.52 billion during 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 firm's revenue was down 5.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.57 EPS. Sell-side analysts expect that Constellation Brands Inc will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Wednesday, July 30th will be issued a dividend of $1.02 per share. The ex-dividend date is Wednesday, July 30th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.5%. Constellation Brands's dividend payout ratio (DPR) is currently -170.71%.

Insider Buying and Selling

In other news, EVP James O. Bourdeau sold 821 shares of the firm's 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 in the company, valued at $1,595,022. This trade represents a 8.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Samuel J. Glaetzer sold 3,150 shares of the firm's stock in a transaction that occurred 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 sale, the executive vice president owned 3,126 shares of the company's stock, valued at $589,376.04. This represents a 50.19% decrease in their position. The disclosure for this sale can be found here. 12.45% of the stock is 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 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.

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