Centricity Wealth Management LLC Takes Position in Constellation Brands, Inc. (NYSE:STZ)

Centricity Wealth Management LLC acquired a new position in Constellation Brands, Inc. (NYSE:STZ) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 159 shares of the company’s stock, valued at approximately $35,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Blue Trust Inc. increased its stake in shares of Constellation Brands by 181.3% during the third quarter. Blue Trust Inc. now owns 1,021 shares of the company’s stock valued at $263,000 after acquiring an additional 658 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of Constellation Brands by 17.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 12,361 shares of the company’s stock valued at $3,185,000 after purchasing an additional 1,833 shares during the period. Sequoia Financial Advisors LLC raised its stake in shares of Constellation Brands by 13.1% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 4,961 shares of the company’s stock worth $1,278,000 after buying an additional 573 shares in the last quarter. Eastern Bank acquired a new stake in shares of Constellation Brands in the third quarter valued at $39,000. Finally, Courier Capital LLC boosted its stake in Constellation Brands by 7.1% during the third quarter. Courier Capital LLC now owns 894 shares of the company’s stock valued at $230,000 after buying an additional 59 shares in the last quarter. Institutional investors own 77.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. UBS Group dropped their price target on shares of Constellation Brands from $265.00 to $223.00 and set a “buy” rating on the stock in a research report on Friday, January 17th. StockNews.com upgraded shares of Constellation Brands from a “sell” rating to a “hold” rating in a report on Thursday, February 13th. Wells Fargo & Company reduced their target price on shares of Constellation Brands from $295.00 to $275.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $203.00 price target (down previously from $262.00) on shares of Constellation Brands in a report on Monday, January 13th. Finally, Truist Financial cut their price objective on Constellation Brands from $255.00 to $190.00 and set a “hold” rating for the company in a research report on Tuesday, January 14th. Ten research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $254.29.

Constellation Brands Stock Up 2.1 %

Constellation Brands stock opened at $176.00 on Friday. Constellation Brands, Inc. has a twelve month low of $160.46 and a twelve month high of $274.87. 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 firm has a market cap of $31.81 billion, a PE ratio of 47.31, a P/E/G ratio of 1.52 and a beta of 0.90. The firm’s 50 day moving average price is $194.29 and its two-hundred day moving average price is $225.88.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings results on Friday, January 10th. The company reported $3.25 earnings per share for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.08). The company had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.53 billion. Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The company’s revenue was down .3% compared to the same quarter last year. During the same period last year, the company posted $3.19 earnings per share. On average, research analysts predict that Constellation Brands, Inc. will post 13.5 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 7th were issued a dividend of $1.01 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $4.04 annualized dividend and a dividend yield of 2.30%. Constellation Brands’s dividend payout ratio is 108.60%.

Insider Activity at Constellation Brands

In other Constellation Brands news, Director William T. Giles bought 1,000 shares of Constellation Brands stock in a transaction on Friday, January 17th. The stock was purchased at an average cost of $186.39 per share, for a total transaction of $186,390.00. Following the completion of the purchase, the director now directly owns 1,463 shares of the company’s stock, valued at $272,688.57. The trade was a 215.98 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 12.19% of the stock is currently owned by company insiders.

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.