Diversify Advisory Services LLC Takes $471,000 Position in Constellation Brands, Inc. (NYSE:STZ)

Diversify Advisory Services LLC acquired a new stake in shares of Constellation Brands, Inc. (NYSE:STZ) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,771 shares of the company’s stock, valued at approximately $471,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of STZ. BKM Wealth Management LLC purchased a new position in shares of Constellation Brands during the fourth quarter valued at about $28,000. YHB Investment Advisors Inc. purchased a new position in shares of Constellation Brands during the first quarter valued at about $35,000. Kapitalo Investimentos Ltda purchased a new position in shares of Constellation Brands during the fourth quarter valued at about $35,000. First Financial Corp IN purchased a new position in shares of Constellation Brands during the first quarter valued at about $35,000. Finally, Turtle Creek Wealth Advisors LLC purchased a new position in shares of Constellation Brands during the fourth quarter valued at about $37,000. 77.34% of the stock is owned by institutional investors.

Constellation Brands Stock Performance

Constellation Brands stock traded up $8.77 during midday trading on Friday, reaching $259.14. 1,943,356 shares of the company traded hands, compared to its average volume of 1,149,984. The firm has a market capitalization of $47.42 billion, a price-to-earnings ratio of 27.63, a price-to-earnings-growth ratio of 1.66 and a beta of 0.87. The business has a 50 day moving average of $254.75 and a two-hundred day moving average of $254.11. Constellation Brands, Inc. has a 12 month low of $227.50 and a 12 month high of $274.87. 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 issued its quarterly earnings data on Wednesday, July 3rd. The company reported $3.57 earnings per share for the quarter, beating analysts’ consensus estimates of $3.46 by $0.11. The company had revenue of $2.66 billion for the quarter, compared to the consensus estimate of $2.67 billion. Constellation Brands had a net margin of 22.70% and a return on equity of 23.72%. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.91 earnings per share. As a group, research analysts predict that Constellation Brands, Inc. will post 13.67 earnings per share for the current year.

Constellation Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Wednesday, August 14th will be given a $1.01 dividend. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $4.04 annualized dividend and a yield of 1.56%. Constellation Brands’s payout ratio is presently 43.07%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on STZ shares. Royal Bank of Canada reiterated an “outperform” rating and set a $308.00 price target on shares of Constellation Brands in a research report on Tuesday, May 28th. Piper Sandler started coverage on shares of Constellation Brands in a report on Friday, March 22nd. They issued an “overweight” rating and a $300.00 price objective on the stock. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Constellation Brands from $256.00 to $262.00 and gave the stock a “hold” rating in a report on Wednesday, April 10th. JPMorgan Chase & Co. upped their price objective on shares of Constellation Brands from $291.00 to $320.00 and gave the stock an “overweight” rating in a report on Friday. Finally, Barclays cut their price objective on shares of Constellation Brands from $292.00 to $287.00 in a report on Friday. Three equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $300.11.

Insiders Place Their Bets

In other Constellation Brands news, CEO William A. Newlands sold 25,000 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $261.54, for a total value of $6,538,500.00. Following the transaction, the chief executive officer now directly owns 14,700 shares in the company, valued at $3,844,638. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Constellation Brands news, CEO William A. Newlands sold 25,000 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $261.54, for a total value of $6,538,500.00. Following the transaction, the chief executive officer now directly owns 14,700 shares in the company, valued at $3,844,638. 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 stock in a transaction that occurred on Friday, April 19th. The stock was sold at an average price of $263.25, for a total transaction of $1,056,422.25. Following the completion of the transaction, the chief executive officer now owns 5,395 shares in the company, valued at $1,420,233.75. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 48,031 shares of company stock worth $12,582,321. Company insiders own 12.19% of the company’s stock.

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 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.