Simplicity Solutions LLC Grows Stock Holdings in Constellation Brands, Inc. (NYSE:STZ)

Simplicity Solutions LLC raised its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 2.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,708 shares of the company’s stock after purchasing an additional 74 shares during the period. Simplicity Solutions LLC’s holdings in Constellation Brands were worth $655,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in STZ. Kestra Private Wealth Services LLC increased its holdings in shares of Constellation Brands by 17.2% in the third quarter. Kestra Private Wealth Services LLC now owns 17,218 shares of the company’s stock worth $4,327,000 after buying an additional 2,526 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of Constellation Brands by 15.3% in the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 32,433 shares of the company’s stock worth $8,151,000 after buying an additional 4,311 shares during the period. Perigon Wealth Management LLC increased its holdings in shares of Constellation Brands by 46.0% in the fourth quarter. Perigon Wealth Management LLC now owns 6,012 shares of the company’s stock worth $1,453,000 after buying an additional 1,893 shares during the period. CoreCap Advisors LLC increased its holdings in shares of Constellation Brands by 35.8% in the fourth quarter. CoreCap Advisors LLC now owns 2,002 shares of the company’s stock worth $484,000 after buying an additional 528 shares during the period. Finally, Ascent Wealth Partners LLC purchased a new position in shares of Constellation Brands in the fourth quarter worth about $962,000. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Insider Buying and Selling at Constellation Brands

In other Constellation Brands news, EVP James A. Jr. Sabia sold 15,781 shares of the business’s stock in a transaction on Friday, April 12th. The shares were sold at an average price of $263.63, for a total transaction of $4,160,345.03. Following the completion of the sale, the executive vice president now directly owns 20,910 shares in the company, valued at approximately $5,512,503.30. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 16.19% of the company’s stock.

Constellation Brands Price Performance

Shares of NYSE STZ opened at $257.31 on Thursday. Constellation Brands, Inc. has a twelve month low of $221.81 and a twelve month high of $274.87. The firm has a market cap of $47.04 billion, a P/E ratio of 27.43, a PEG ratio of 1.75 and a beta of 0.97. The company has a 50 day moving average of $257.51 and a 200 day moving average of $247.13. The company has a quick ratio of 0.53, a current ratio of 1.19 and a debt-to-equity ratio of 1.06.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings data on Thursday, April 11th. The company reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates of $2.10 by $0.16. Constellation Brands had a net margin of 16.13% and a return on equity of 23.06%. The company had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.09 billion. During the same period in the previous year, the business earned $1.98 EPS. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. As a group, research analysts expect that Constellation Brands, Inc. will post 13.5 EPS for the current fiscal year.

Constellation Brands Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Friday, May 3rd will be paid a dividend of $1.01 per share. The ex-dividend date of this dividend is Thursday, May 2nd. This is a positive change from Constellation Brands’s previous quarterly dividend of $0.89. This represents a $4.04 dividend on an annualized basis and a yield of 1.57%. Constellation Brands’s payout ratio is currently 37.95%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. JPMorgan Chase & Co. cut their target price on Constellation Brands from $309.00 to $301.00 and set an “overweight” rating on the stock in a research note on Thursday, December 21st. Evercore ISI raised their target price on Constellation Brands from $300.00 to $310.00 and gave the stock an “outperform” rating in a research note on Friday, April 12th. Jefferies Financial Group raised their target price on Constellation Brands from $292.00 to $314.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. Piper Sandler assumed coverage on Constellation Brands in a research note on Friday, March 22nd. They issued an “overweight” rating and a $300.00 target price on the stock. Finally, HSBC raised their target price on Constellation Brands from $290.00 to $300.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. Three analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $298.55.

About Constellation Brands

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 Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Victoria, Vicky Chamoy, and Pacifico brands.