Smith Salley Wealth Management Sells 2,459 Shares of Constellation Brands Inc (NYSE:STZ)

Smith Salley Wealth Management cut its holdings in Constellation Brands Inc (NYSE:STZ - Free Report) by 3.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 68,818 shares of the company's stock after selling 2,459 shares during the quarter. Smith Salley Wealth Management's holdings in Constellation Brands were worth $12,629,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of STZ. Vanguard Group Inc. boosted its holdings in shares of Constellation Brands by 13.3% in the fourth quarter. Vanguard Group Inc. now owns 15,534,787 shares of the company's stock valued at $3,433,188,000 after buying an additional 1,821,969 shares during the period. Capital World Investors raised its holdings in shares of Constellation Brands by 3.4% during the fourth quarter. Capital World Investors now owns 9,755,602 shares of the company's stock worth $2,155,946,000 after acquiring an additional 324,690 shares during the period. Berkshire Hathaway Inc bought a new stake in Constellation Brands in the 4th quarter valued at $1,242,976,000. Geode Capital Management LLC boosted its stake in Constellation Brands by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 3,204,003 shares of the company's stock worth $705,844,000 after purchasing an additional 63,323 shares during the period. Finally, Capital Research Global Investors boosted its stake in Constellation Brands by 0.6% in the 4th quarter. Capital Research Global Investors now owns 2,901,975 shares of the company's stock worth $641,336,000 after purchasing an additional 18,557 shares during the period. 77.34% of the stock is owned by institutional investors.

Constellation Brands Stock Up 0.8%

Constellation Brands stock opened at $162.65 on Tuesday. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.92 and a quick ratio of 0.56. The company's 50-day moving average is $178.34 and its 200-day moving average is $184.67. The firm has a market capitalization of $28.95 billion, a PE ratio of -318.92, a P/E/G ratio of 8.93 and a beta of 0.70. Constellation Brands Inc has a fifty-two week low of $159.35 and a fifty-two week high of $264.45.

Constellation Brands (NYSE:STZ - Get Free Report) last posted its quarterly earnings results on Wednesday, April 9th. The company reported $2.63 EPS for the quarter, topping analysts' consensus estimates of $2.28 by $0.35. The business had revenue of $2.13 billion during the quarter, compared to analysts' expectations of $2.14 billion. Constellation Brands had a positive return on equity of 29.56% and a negative net margin of 0.74%. Constellation Brands's quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter last year, the company posted $2.26 earnings per share. Sell-side analysts anticipate that Constellation Brands Inc will post 13.5 earnings per share for the current year.

Constellation Brands Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Tuesday, April 29th were issued a dividend of $1.02 per share. The ex-dividend date of this dividend was Tuesday, April 29th. This is a positive change from Constellation Brands's previous quarterly dividend of $1.01. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.51%. Constellation Brands's payout ratio is presently -800.00%.

Analysts Set New Price Targets

Several research firms have issued reports on STZ. Roth Mkm dropped their price target on Constellation Brands from $284.00 to $256.00 and set a "buy" rating on the stock in a research note on Thursday, April 3rd. Wells Fargo & Company decreased their price objective on Constellation Brands from $210.00 to $196.00 and set an "overweight" rating for the company in a report on Wednesday, June 25th. The Goldman Sachs Group set a $225.00 target price on Constellation Brands and gave the company a "buy" rating in a research report on Friday. BMO Capital Markets reduced their price target on Constellation Brands from $260.00 to $215.00 and set an "outperform" rating for the company in a research report on Friday, April 11th. Finally, Wall Street Zen raised shares of Constellation Brands from a "sell" rating to a "hold" rating in a research note on Tuesday, May 20th. Eleven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $211.91.

Insiders Place Their Bets

In other Constellation Brands news, EVP Samuel J. Glaetzer sold 3,150 shares of the firm'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 completion of the sale, the executive vice president owned 3,126 shares of the company's stock, valued at $589,376.04. This trade represents a 50.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 12.45% of the company's stock.

Constellation Brands Company 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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