Constellation Brands Inc $STZ Shares Acquired by Apollon Wealth Management LLC

Key Points

• Apollon Wealth Management LLC increased its holdings in Constellation Brands Inc by 230.2% during the second quarter, acquiring an additional 4,511 shares, bringing their total to 6,471 shares valued at approximately $1,053,000.
• A significant portion of Constellation Brands stock, 77.34%, is owned by institutional investors and hedge funds, indicating strong institutional interest.
• Constellation Brands also announced a quarterly dividend of $1.02, representing a 2.9% dividend yield, scheduled for payment on November 13th to investors of record on October 30th.

Apollon Wealth Management LLC increased its holdings in Constellation Brands Inc (NYSE:STZ - Free Report) by 230.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,471 shares of the company's stock after acquiring an additional 4,511 shares during the quarter. Apollon Wealth Management LLC's holdings in Constellation Brands were worth $1,053,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of STZ. Brighton Jones LLC grew its position in Constellation Brands by 23.0% in the 4th quarter. Brighton Jones LLC now owns 1,001 shares of the company's stock valued at $221,000 after buying an additional 187 shares during the last quarter. Farther Finance Advisors LLC grew its position in Constellation Brands by 179.2% in the 1st quarter. Farther Finance Advisors LLC now owns 2,069 shares of the company's stock valued at $382,000 after buying an additional 1,328 shares during the last quarter. Grimes & Company Inc. grew its position in Constellation Brands by 13.3% in the 1st quarter. Grimes & Company Inc. now owns 31,277 shares of the company's stock valued at $5,740,000 after buying an additional 3,677 shares during the last quarter. Grove Bank & Trust grew its position in Constellation Brands by 28.7% in the 1st quarter. Grove Bank & Trust now owns 3,369 shares of the company's stock valued at $618,000 after buying an additional 752 shares during the last quarter. Finally, Inscription Capital LLC purchased a new position in Constellation Brands in the 1st quarter valued at $335,000. 77.34% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Constellation Brands

In related news, EVP James O. Bourdeau sold 821 shares of the business's stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $169.00, for a total value of $138,749.00. Following the sale, the executive vice president directly owned 9,438 shares in the company, valued at $1,595,022. The trade was a 8.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 12.45% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on STZ. BNP Paribas lowered shares of Constellation Brands from a "hold" rating to a "strong sell" rating in a research report on Wednesday, September 3rd. Raymond James Financial upgraded shares of Constellation Brands to a "strong-buy" rating in a research report on Monday, July 7th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Constellation Brands from $182.00 to $158.00 and set a "hold" rating on the stock in a research report on Wednesday, September 3rd. The Goldman Sachs Group decreased their target price on shares of Constellation Brands from $196.00 to $168.00 and set a "buy" rating on the stock in a research report on Thursday, October 2nd. Finally, Weiss Ratings restated a "sell (d)" rating on shares of Constellation Brands in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nine have given a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $186.44.

Constellation Brands Price Performance

Constellation Brands stock opened at $141.44 on Wednesday. Constellation Brands Inc has a 52 week low of $131.20 and a 52 week high of $247.63. The company has a quick ratio of 0.54, a current ratio of 1.08 and a debt-to-equity ratio of 1.26. The firm's 50-day simple moving average is $149.62 and its 200 day simple moving average is $167.48. The firm has a market capitalization of $24.93 billion, a PE ratio of 20.65, a P/E/G ratio of 0.42 and a beta of 1.75.

Constellation Brands (NYSE:STZ - Get Free Report) last released its quarterly earnings data on Thursday, February 23rd. The company reported $3.12 EPS for the quarter. Constellation Brands had a net margin of 11.88% and a return on equity of 29.82%. The business had revenue of $2.32 billion for the quarter. On average, equities research analysts predict that Constellation Brands Inc will post 13.5 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 13th. Investors of record on Thursday, October 30th will be given a $1.02 dividend. The ex-dividend date is Thursday, October 30th. This represents a $4.08 annualized dividend and a dividend yield of 2.9%. Constellation Brands's payout ratio is currently 59.56%.

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.

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