Spire Wealth Management Sells 1,601 Shares of Constellation Brands Inc (NYSE:STZ)

Spire Wealth Management trimmed its position in shares of Constellation Brands Inc (NYSE:STZ - Free Report) by 58.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,126 shares of the company's stock after selling 1,601 shares during the quarter. Spire Wealth Management's holdings in Constellation Brands were worth $207,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in STZ. Mainstream Capital Management LLC acquired a new stake in shares of Constellation Brands in the fourth quarter worth about $25,000. SBI Securities Co. Ltd. bought a new position in shares of Constellation Brands in the 4th quarter valued at approximately $26,000. Minot DeBlois Advisors LLC acquired a new stake in Constellation Brands in the 4th quarter worth approximately $29,000. Optiver Holding B.V. bought a new stake in Constellation Brands during the fourth quarter worth approximately $31,000. Finally, Laurel Wealth Advisors LLC bought a new stake in Constellation Brands during the first quarter worth approximately $32,000. Institutional investors own 77.34% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on STZ shares. Jefferies Financial Group reduced their price objective on shares of Constellation Brands from $201.00 to $196.00 in a research note on Friday, April 11th. Wall Street Zen upgraded shares of Constellation Brands from a "sell" rating to a "hold" rating in a report on Tuesday, May 20th. Bernstein Bank decreased their price target on shares of Constellation Brands from $260.00 to $225.00 and set an "outperform" rating for the company in a report on Thursday, April 10th. Roth Capital lowered their price target on Constellation Brands from $256.00 to $239.00 and set a "buy" rating on the stock in a research report on Tuesday, May 20th. Finally, Royal Bank Of Canada cut their price objective on Constellation Brands from $289.00 to $233.00 and set an "outperform" rating for the company in a research report on Monday, April 14th. Eleven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, Constellation Brands presently has a consensus rating of "Moderate Buy" and a consensus price target of $211.91.

Constellation Brands Price Performance

STZ stock traded up $4.08 during midday trading on Wednesday, reaching $170.50. 1,595,803 shares of the company's stock traded hands, compared to its average volume of 1,896,734. The company has a 50-day simple moving average of $177.93 and a two-hundred day simple moving average of $184.54. The company has a quick ratio of 0.56, a current ratio of 0.92 and a debt-to-equity ratio of 1.30. Constellation Brands Inc has a 1-year low of $159.35 and a 1-year high of $264.45. The company has a market cap of $30.35 billion, a price-to-earnings ratio of -332.38, a PEG ratio of 9.01 and a beta of 0.67.

Constellation Brands (NYSE:STZ - Get Free Report) last announced its earnings results on Tuesday, July 1st. The company reported $3.22 EPS for the quarter, missing the consensus estimate of $3.45 by ($0.23). Constellation Brands had a positive return on equity of 29.56% and a negative net margin of 0.74%. The business had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.57 billion. During the same quarter in the previous year, the company posted $3.57 EPS. Constellation Brands's revenue for the quarter was down 5.5% on a year-over-year basis. On average, analysts anticipate that Constellation Brands Inc will post 13.5 earnings per share for the current year.

Constellation Brands Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Tuesday, April 29th were given a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.39%. This is a positive change from Constellation Brands's previous quarterly dividend of $1.01. The ex-dividend date of this dividend was Tuesday, April 29th. Constellation Brands's dividend payout ratio is presently -800.00%.

Insider Transactions at Constellation Brands

In other news, EVP Samuel J. Glaetzer sold 3,150 shares of the company'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 owned 3,126 shares of the company's stock, valued at $589,376.04. This represents a 50.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 12.45% of the company's stock.

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.