Strategic Wealth Partners Ltd. Reduces Holdings in Constellation Brands, Inc. (NYSE:STZ)

Strategic Wealth Partners Ltd. reduced its stake in shares of Constellation Brands, Inc. (NYSE:STZ - Free Report) by 88.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,370 shares of the company's stock after selling 25,621 shares during the period. Strategic Wealth Partners Ltd.'s holdings in Constellation Brands were worth $745,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Toronto Dominion Bank lifted its position in Constellation Brands by 41.7% during the fourth quarter. Toronto Dominion Bank now owns 86,585 shares of the company's stock valued at $19,135,000 after purchasing an additional 25,463 shares during the period. Sherbrooke Park Advisers LLC acquired a new position in Constellation Brands during the fourth quarter valued at $972,000. Silvercrest Asset Management Group LLC lifted its position in Constellation Brands by 1.5% during the fourth quarter. Silvercrest Asset Management Group LLC now owns 7,431 shares of the company's stock valued at $1,642,000 after purchasing an additional 111 shares during the period. Rafferty Asset Management LLC lifted its position in Constellation Brands by 12.0% during the fourth quarter. Rafferty Asset Management LLC now owns 13,545 shares of the company's stock valued at $2,993,000 after purchasing an additional 1,451 shares during the period. Finally, Raiffeisen Bank International AG acquired a new position in Constellation Brands during the fourth quarter valued at $2,657,000. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Constellation Brands Stock Down 1.9%

Shares of NYSE:STZ traded down $3.53 during trading hours on Wednesday, reaching $185.84. The stock had a trading volume of 1,261,861 shares, compared to its average volume of 1,754,726. Constellation Brands, Inc. has a 1 year low of $160.46 and a 1 year high of $265.70. The firm's 50 day moving average is $184.53 and its 200-day moving average is $198.54. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.46 and a current ratio of 1.10. The stock has a market capitalization of $33.08 billion, a price-to-earnings ratio of 49.96, a P/E/G ratio of 1.52 and a beta of 1.75.

Constellation Brands (NYSE:STZ - Get Free Report) last announced its quarterly earnings data on Wednesday, April 9th. The company reported $2.63 EPS for the quarter, beating analysts' consensus estimates of $2.28 by $0.35. Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. The company had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.14 billion. During the same period in the prior year, the firm posted $2.26 EPS. The company's quarterly revenue was up 1.2% compared to the same quarter last year. Research analysts predict that Constellation Brands, Inc. will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Tuesday, April 29th were given a $1.02 dividend. The ex-dividend date was Tuesday, April 29th. This is an increase 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 2.20%. Constellation Brands's dividend payout ratio is currently -800.00%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on STZ. Truist Financial upgraded shares of Constellation Brands from a "hold" rating to a "buy" rating and set a $215.00 price objective for the company in a research report on Wednesday, May 7th. Roth Mkm decreased their price objective on shares of Constellation Brands from $284.00 to $256.00 and set a "buy" rating for the company in a research report on Thursday, April 3rd. Barclays upped their price objective on shares of Constellation Brands from $203.00 to $207.00 and gave the stock an "overweight" rating in a research report on Monday, April 14th. Wells Fargo & Company decreased their price objective on shares of Constellation Brands from $230.00 to $210.00 and set an "overweight" rating for the company in a research report on Wednesday, April 2nd. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Constellation Brands from $203.00 to $194.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $225.74.

Insider Activity at Constellation Brands

In related news, EVP Samuel J. Glaetzer sold 3,150 shares of the stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $188.54, for a total value of $593,901.00. Following the transaction, the executive vice president now directly owns 3,126 shares of the company's stock, valued at $589,376.04. This trade represents a 50.19% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 12.19% 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.