Kingswood Wealth Advisors LLC Sells 2,829 Shares of Constellation Brands Inc $STZ

Key Points

• Kingswood Wealth Advisors LLC reduced its position in Constellation Brands by 47.4%, selling 2,829 shares and owning 3,145 shares worth approximately $512,000 as of their latest SEC filing.
• Various institutional investors, including Arlington Partners LLC and Assenagon Asset Management S.A., have also made significant changes to their stakes in Constellation Brands, with some increasing their holdings by as much as 969.5%.
• Constellation Brands recently reported earnings exceeding expectations, with $3.63 earnings per share, but noted a 15% year-over-year decline in revenue.

Kingswood Wealth Advisors LLC decreased its holdings in shares of Constellation Brands Inc (NYSE:STZ - Free Report) by 47.4% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,145 shares of the company's stock after selling 2,829 shares during the period. Kingswood Wealth Advisors LLC's holdings in Constellation Brands were worth $512,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in STZ. Arlington Partners LLC purchased a new stake in shares of Constellation Brands during the second quarter valued at approximately $2,333,000. Wesbanco Bank Inc. grew its holdings in shares of Constellation Brands by 10.7% during the second quarter. Wesbanco Bank Inc. now owns 43,329 shares of the company's stock valued at $7,049,000 after buying an additional 4,204 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Constellation Brands by 969.5% during the second quarter. Assenagon Asset Management S.A. now owns 83,656 shares of the company's stock valued at $13,609,000 after buying an additional 75,834 shares during the last quarter. Glenview Trust co grew its holdings in shares of Constellation Brands by 6.8% during the first quarter. Glenview Trust co now owns 69,427 shares of the company's stock valued at $12,741,000 after buying an additional 4,421 shares during the last quarter. Finally, 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. Institutional investors own 77.34% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on STZ. Jefferies Financial Group cut their price target on shares of Constellation Brands from $205.00 to $179.00 and set a "buy" rating on the stock in a report on Wednesday, September 3rd. Wells Fargo & Company dropped their target price on shares of Constellation Brands from $170.00 to $155.00 and set an "overweight" rating on the stock in a report on Thursday, September 25th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Constellation Brands from $182.00 to $158.00 and set a "hold" rating on the stock in a report on Wednesday, September 3rd. Cowen restated a "hold" rating on shares of Constellation Brands in a report on Monday, July 7th. Finally, Zacks Research cut shares of Constellation Brands from a "hold" rating to a "strong sell" rating in a report on Tuesday, September 9th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nine have assigned a Hold rating and five have issued a Sell rating to the company's stock. Based on data from MarketBeat, Constellation Brands currently has an average rating of "Hold" and an average price target of $186.44.

Insider Activity at Constellation Brands

In other news, EVP James O. Bourdeau sold 821 shares of the firm's stock in a transaction 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 sale, the executive vice president directly 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. 12.45% of the stock is owned by insiders.

Constellation Brands Stock Up 0.3%

STZ opened at $143.20 on Friday. The company has a current ratio of 1.08, a quick ratio of 0.68 and a debt-to-equity ratio of 1.26. Constellation Brands Inc has a 1-year low of $131.20 and a 1-year high of $247.63. The company has a market capitalization of $25.24 billion, a PE ratio of 20.91, a PEG ratio of 0.43 and a beta of 0.66. The firm's 50 day simple moving average is $151.28 and its two-hundred day simple moving average is $168.44.

Constellation Brands (NYSE:STZ - Get Free Report) last released its quarterly earnings results on Monday, October 6th. The company reported $3.63 earnings per share for the quarter, topping the consensus estimate of $3.37 by $0.26. Constellation Brands had a net margin of 11.88% and a return on equity of 29.82%. The business had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.68 billion. During the same period last year, the firm earned $4.32 earnings per share. The company's quarterly revenue was down 15.0% on a year-over-year basis. As a group, equities analysts forecast that Constellation Brands Inc will post 13.5 EPS for the current year.

Constellation Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 13th. Stockholders of record on Thursday, October 30th will be given a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Thursday, October 30th. Constellation Brands's dividend payout ratio (DPR) is presently 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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