Merit Financial Group LLC Has $244,000 Holdings in Constellation Brands, Inc. (NYSE:STZ)

Merit Financial Group LLC trimmed its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 19.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,010 shares of the company’s stock after selling 240 shares during the period. Merit Financial Group LLC’s holdings in Constellation Brands were worth $244,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. BKM Wealth Management LLC acquired a new stake in shares of Constellation Brands in the fourth quarter valued at $28,000. Asset Dedication LLC grew its holdings in Constellation Brands by 3,833.3% during the 3rd quarter. Asset Dedication LLC now owns 118 shares of the company’s stock worth $30,000 after acquiring an additional 115 shares during the last quarter. Turtle Creek Wealth Advisors LLC acquired a new stake in Constellation Brands in the 4th quarter valued at about $37,000. Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of Constellation Brands in the third quarter worth about $41,000. Finally, Exchange Traded Concepts LLC acquired a new position in shares of Constellation Brands during the fourth quarter worth approximately $45,000. Institutional investors own 77.34% of the company’s stock.

Insiders Place Their Bets

In other news, CEO William A. Newlands sold 4,013 shares of the business’s stock in a transaction dated Friday, April 19th. The shares were sold at an average price of $263.25, for a total transaction of $1,056,422.25. Following the transaction, the chief executive officer now directly owns 5,395 shares in the company, valued at approximately $1,420,233.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP James A. Jr. Sabia sold 15,781 shares of the business’s stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $263.63, for a total transaction 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 approximately $5,512,503.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William A. Newlands sold 4,013 shares of the firm’s stock in a transaction on Friday, April 19th. The shares were sold at an average price of $263.25, for a total value of $1,056,422.25. Following the sale, the chief executive officer now directly owns 5,395 shares of the company’s stock, valued at approximately $1,420,233.75. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,031 shares of company stock valued at $6,043,821. 16.19% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently weighed in on STZ. HSBC boosted their price objective on shares of Constellation Brands from $290.00 to $300.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Barclays raised their price target on Constellation Brands from $294.00 to $295.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Wedbush restated an “outperform” rating and issued a $300.00 price target on shares of Constellation Brands in a research report on Wednesday, April 10th. Deutsche Bank Aktiengesellschaft upped their price objective on Constellation Brands from $256.00 to $262.00 and gave the company a “hold” rating in a report on Wednesday, April 10th. Finally, BMO Capital Markets raised their target price on Constellation Brands from $290.00 to $315.00 and gave the stock an “outperform” rating in a report on Friday, April 12th. Three investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $298.55.

Constellation Brands Stock Up 0.9 %

NYSE:STZ opened at $260.70 on Friday. The stock has a 50-day simple moving average of $261.48 and a 200 day simple moving average of $249.30. Constellation Brands, Inc. has a 52-week low of $223.01 and a 52-week high of $274.87. The company has a market cap of $47.70 billion, a PE ratio of 27.79, a PEG ratio of 1.73 and a beta of 1.75. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.53 and a current ratio of 1.19.

Constellation Brands (NYSE:STZ) last released its earnings results on Thursday, April 11th. The company reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. Constellation Brands’s revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.98 earnings per share. On average, sell-side analysts expect that Constellation Brands, Inc. will post 13.51 EPS for the current fiscal year.

Constellation Brands Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Friday, May 3rd will be paid a $1.01 dividend. The ex-dividend date is Thursday, May 2nd. This is a boost from Constellation Brands’s previous quarterly dividend of $0.89. This represents a $4.04 annualized dividend and a dividend yield of 1.55%. Constellation Brands’s dividend payout ratio (DPR) is currently 43.07%.

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.