SVB Wealth LLC Boosts Stake in Constellation Brands, Inc. (NYSE:STZ)

SVB Wealth LLC lifted its stake in Constellation Brands, Inc. (NYSE:STZ) by 16.7% in the 4th quarter, HoldingsChannel reports. The firm owned 4,164 shares of the company’s stock after acquiring an additional 596 shares during the period. SVB Wealth LLC’s holdings in Constellation Brands were worth $1,007,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of STZ. Burns Matteson Capital Management LLC boosted its holdings in shares of Constellation Brands by 1.7% during the 4th quarter. Burns Matteson Capital Management LLC now owns 2,499 shares of the company’s stock valued at $604,000 after purchasing an additional 42 shares during the last quarter. FAS Wealth Partners Inc. increased its position in shares of Constellation Brands by 3.5% during the fourth quarter. FAS Wealth Partners Inc. now owns 1,277 shares of the company’s stock worth $309,000 after acquiring an additional 43 shares during the period. United Capital Financial Advisers LLC increased its position in shares of Constellation Brands by 2.9% during the first quarter. United Capital Financial Advisers LLC now owns 1,552 shares of the company’s stock worth $357,000 after acquiring an additional 44 shares during the period. IHT Wealth Management LLC increased its position in shares of Constellation Brands by 1.9% during the first quarter. IHT Wealth Management LLC now owns 2,406 shares of the company’s stock worth $543,000 after acquiring an additional 45 shares during the period. Finally, Bragg Financial Advisors Inc increased its position in shares of Constellation Brands by 1.6% during the fourth quarter. Bragg Financial Advisors Inc now owns 2,825 shares of the company’s stock worth $655,000 after acquiring an additional 45 shares during the period. Institutional investors own 77.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on STZ shares. Wedbush reaffirmed an “outperform” rating and set a $300.00 target price on shares of Constellation Brands in a research report on Wednesday, April 10th. HSBC lifted their price objective on shares of Constellation Brands from $290.00 to $300.00 and gave the company a “buy” rating in a report on Friday, April 12th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Constellation Brands from $256.00 to $262.00 and gave the company a “hold” rating in a report on Wednesday, April 10th. Bank of America lifted their price objective on shares of Constellation Brands from $290.00 to $300.00 and gave the company a “buy” rating in a report on Monday, March 18th. Finally, Evercore ISI lifted their price objective on shares of Constellation Brands from $300.00 to $310.00 and gave the company an “outperform” rating in a report on Friday, April 12th. Three research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $298.55.

Insider Activity

In other news, EVP James A. Jr. Sabia sold 15,781 shares of the stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $263.63, for a total value of $4,160,345.03. Following the transaction, the executive vice president now directly owns 20,910 shares of the company’s stock, valued at $5,512,503.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 16.19% of the company’s stock.

Constellation Brands Trading Up 0.8 %

Shares of NYSE:STZ opened at $260.70 on Friday. The business’s 50-day moving average is $258.19 and its 200 day moving average is $247.29. Constellation Brands, Inc. has a 1 year low of $221.81 and a 1 year high of $274.87. The firm has a market capitalization of $47.66 billion, a P/E ratio of 27.79, a P/E/G ratio of 1.74 and a beta of 0.97. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.19 and a quick ratio of 0.53.

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, beating analysts’ consensus estimates of $2.10 by $0.16. The business had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.09 billion. Constellation Brands had a return on equity of 23.06% and a net margin of 16.13%. The company’s revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the company earned $1.98 earnings per share. On average, research analysts predict that Constellation Brands, Inc. will post 13.51 earnings per share for the current fiscal year.

Constellation Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Friday, May 3rd will be issued a $1.01 dividend. 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 dividend yield of 1.55%. Constellation Brands’s dividend payout ratio is currently 37.95%.

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.