River Wealth Advisors LLC increased its holdings in Constellation Brands, Inc. (NYSE:STZ) by 15.9% in the 1st quarter, HoldingsChannel reports. The fund owned 11,009 shares of the company’s stock after buying an additional 1,513 shares during the quarter. River Wealth Advisors LLC’s holdings in Constellation Brands were worth $1,930,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of the stock. Versant Capital Management Inc increased its stake in Constellation Brands by 210.9% during the 1st quarter. Versant Capital Management Inc now owns 143 shares of the company’s stock valued at $25,000 after purchasing an additional 97 shares in the last quarter. Truewealth LLC boosted its holdings in shares of Constellation Brands by 467.9% during the 4th quarter. Truewealth LLC now owns 159 shares of the company’s stock valued at $26,000 after acquiring an additional 131 shares during the last quarter. City Holding Co. purchased a new stake in shares of Constellation Brands during the 4th quarter valued at about $31,000. Ledyard National Bank purchased a new stake in shares of Constellation Brands during the 4th quarter valued at about $31,000. Finally, We Are One Seven LLC purchased a new stake in shares of Constellation Brands during the 4th quarter valued at about $32,000. Institutional investors own 74.05% of the company’s stock.
STZ traded up $1.47 during trading hours on Thursday, hitting $206.46. The company’s stock had a trading volume of 17,801 shares, compared to its average volume of 2,357,694. Constellation Brands, Inc. has a 12 month low of $150.37 and a 12 month high of $234.26. The stock has a market capitalization of $39.40 billion, a PE ratio of 22.19, a P/E/G ratio of 2.75 and a beta of 0.54. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.49 and a current ratio of 1.16.
Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Thursday, April 4th. The company reported $1.84 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.12. Constellation Brands had a net margin of 38.67% and a return on equity of 15.63%. The company had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter in the previous year, the business posted $1.90 earnings per share. Constellation Brands’s quarterly revenue was up 2.0% on a year-over-year basis. As a group, research analysts forecast that Constellation Brands, Inc. will post 8.51 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Friday, May 10th will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.45%. The ex-dividend date is Thursday, May 9th. This is a boost from Constellation Brands’s previous quarterly dividend of $0.74. Constellation Brands’s payout ratio is currently 10.02%.
Several brokerages have weighed in on STZ. Credit Suisse Group began coverage on shares of Constellation Brands in a report on Wednesday, March 6th. They set an “outperform” rating and a $230.00 price target on the stock. Jefferies Financial Group reaffirmed a “buy” rating and set a $258.00 price target on shares of Constellation Brands in a report on Wednesday, January 16th. Barclays set a $226.00 price target on shares of Constellation Brands and gave the company a “buy” rating in a report on Friday, April 5th. Atlantic Securities began coverage on shares of Constellation Brands in a report on Monday, January 21st. They set an “overweight” rating and a $227.00 price target on the stock. Finally, Morgan Stanley set a $233.00 price target on shares of Constellation Brands and gave the company a “buy” rating in a report on Thursday, February 14th. Eleven analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $223.13.
In related news, Director Barry A. Fromberg sold 1,500 shares of the business’s stock in a transaction on Friday, February 15th. The shares were sold at an average price of $174.72, for a total value of $262,080.00. Following the sale, the director now owns 18,240 shares in the company, valued at $3,186,892.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP David Eric Klein sold 25,980 shares of the business’s stock in a transaction on Thursday, April 18th. The stock was sold at an average price of $198.66, for a total transaction of $5,161,186.80. Following the completion of the sale, the executive vice president now owns 69,852 shares in the company, valued at approximately $13,876,798.32. The disclosure for this sale can be found here. Insiders sold 30,551 shares of company stock worth $6,007,002 in the last 90 days. 15.80% of the stock is currently owned by company insiders.
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Constellation Brands Profile
Constellation Brands, Inc, together with its subsidiaries, produces, imports, and markets beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. It provides beer primarily under the Corona Extra, Corona Light, Corona Premier, Corona Familiar Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands, as well as Funky Buddha, Four Corners, and Ballast Point brands.
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