Constellation Brands Inc $STZ Stock Holdings Reduced by Kingsview Wealth Management LLC

Key Points

• Kingsview Wealth Management cut its Constellation Brands stake by 84% in the fourth quarter, selling 17,479 shares and leaving it with 3,319 shares worth about $458,000.
• Constellation Brands reported better-than-expected quarterly earnings, with EPS of $1.90 versus $1.71 expected and revenue of $1.92 billion, though sales were still down 11.3% year over year.
• The company raised its quarterly dividend to $1.03 per share, or $4.12 annualized, yielding about 3.0%; meanwhile, analysts currently rate the stock a Moderate Buy with an average price target of $175.26.

Kingsview Wealth Management LLC lowered its position in Constellation Brands Inc (NYSE:STZ - Free Report) by 84.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,319 shares of the company's stock after selling 17,479 shares during the quarter. Kingsview Wealth Management LLC's holdings in Constellation Brands were worth $458,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Stance Capital LLC bought a new stake in Constellation Brands in the third quarter worth $26,000. GoalVest Advisory LLC acquired a new stake in shares of Constellation Brands in the fourth quarter worth about $28,000. Elyxium Wealth LLC bought a new stake in shares of Constellation Brands during the 4th quarter worth about $33,000. Mowery & Schoenfeld Wealth Management LLC bought a new stake in shares of Constellation Brands during the 4th quarter worth about $39,000. Finally, Accredited Wealth Management LLC boosted its stake in shares of Constellation Brands by 572.3% during the 3rd quarter. Accredited Wealth Management LLC now owns 316 shares of the company's stock worth $43,000 after acquiring an additional 269 shares in the last quarter. Hedge funds and other institutional investors own 77.34% of the company's stock.

Constellation Brands Price Performance

NYSE STZ opened at $135.59 on Thursday. Constellation Brands Inc has a twelve month low of $126.45 and a twelve month high of $178.55. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.55 and a current ratio of 1.08. The stock has a market capitalization of $23.35 billion, a PE ratio of 14.14, a P/E/G ratio of 3.16 and a beta of 0.39. The stock has a 50-day simple moving average of $151.19 and a 200 day simple moving average of $149.40.

Constellation Brands (NYSE:STZ - Get Free Report) last posted its quarterly earnings data on Wednesday, April 8th. The company reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.71 by $0.19. Constellation Brands had a return on equity of 26.18% and a net margin of 17.29%.The business had revenue of $1.92 billion during the quarter, compared to analysts' expectations of $1.84 billion. During the same quarter in the previous year, the firm earned $2.63 EPS. The firm's revenue was down 11.3% compared to the same quarter last year. Research analysts anticipate that Constellation Brands Inc will post 11.89 EPS for the current year.

Constellation Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Wednesday, April 29th were given a $1.03 dividend. The ex-dividend date was Wednesday, April 29th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.0%. This is an increase from Constellation Brands's previous quarterly dividend of $1.02. Constellation Brands's dividend payout ratio is 42.96%.

Analyst Ratings Changes

STZ has been the subject of several recent analyst reports. Bank of America decreased their price target on Constellation Brands from $154.00 to $152.00 and set an "underperform" rating for the company in a research note on Thursday, May 28th. Deutsche Bank Aktiengesellschaft upped their price target on Constellation Brands from $154.00 to $155.00 and gave the stock a "hold" rating in a research note on Friday, April 10th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Constellation Brands in a research note on Monday, May 4th. UBS Group upped their price target on Constellation Brands from $176.00 to $186.00 and gave the stock a "buy" rating in a research note on Friday, April 10th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and set a $185.00 price target on shares of Constellation Brands in a research note on Friday, April 10th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $175.26.

Insider Activity at Constellation Brands

In related news, EVP James O. Bourdeau sold 4,407 shares of the company's stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $143.24, for a total value of $631,258.68. Following the completion of the transaction, the executive vice president directly owned 9,109 shares in the company, valued at approximately $1,304,773.16. This represents a 32.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 12.45% of the company's stock.

About Constellation Brands

Constellation Brands, Inc is a leading producer and marketer of beer, wine and spirits, with operations spanning production, importation, marketing and distribution. The company's beverage portfolio includes a range of premium and mainstream wines and spirits alongside major imported beer brands; in the U.S. market Constellation is widely known for its role in bringing Mexican imports such as Corona and Modelo to American consumers. Constellation supplies retail, on‑premise and foodservice channels and supports its brands with national sales and marketing platforms and supply‑chain capabilities.

The company traces its roots to the Canandaigua Wine Company, founded by Marvin Sands in 1945, and evolved through organic growth and acquisition into a diversified beverage company.

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