Centricity Wealth Management LLC Takes Position in Constellation Brands, Inc. (NYSE:STZ)

Centricity Wealth Management LLC acquired a new stake in Constellation Brands, Inc. (NYSE:STZ) during the fourth quarter, Holdings Channel.com reports. The firm acquired 159 shares of the company’s stock, valued at approximately $35,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in STZ. PFG Investments LLC lifted its stake in shares of Constellation Brands by 3.8% in the third quarter. PFG Investments LLC now owns 1,150 shares of the company’s stock worth $296,000 after buying an additional 42 shares during the last quarter. Metis Global Partners LLC raised its holdings in Constellation Brands by 0.8% in the 3rd quarter. Metis Global Partners LLC now owns 5,570 shares of the company’s stock worth $1,435,000 after acquiring an additional 46 shares during the period. Rosenberg Matthew Hamilton lifted its position in Constellation Brands by 6.2% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 858 shares of the company’s stock worth $221,000 after acquiring an additional 50 shares during the last quarter. Strategic Investment Solutions Inc. IL boosted its holdings in Constellation Brands by 4.6% during the third quarter. Strategic Investment Solutions Inc. IL now owns 1,158 shares of the company’s stock valued at $298,000 after acquiring an additional 51 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. grew its position in shares of Constellation Brands by 1.3% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,205 shares of the company’s stock valued at $1,084,000 after purchasing an additional 52 shares during the last quarter. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director William T. Giles purchased 1,000 shares of Constellation Brands stock in a transaction that occurred on Friday, January 17th. The shares were acquired at an average price of $186.39 per share, for a total transaction of $186,390.00. Following the transaction, the director now directly owns 1,463 shares in the company, valued at approximately $272,688.57. This represents a 215.98 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 12.19% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on STZ shares. Needham & Company LLC restated a “buy” rating and set a $240.00 target price on shares of Constellation Brands in a research note on Monday, January 27th. Evercore ISI reduced their price objective on Constellation Brands from $300.00 to $250.00 and set an “outperform” rating for the company in a research report on Monday, January 13th. Truist Financial lowered their price objective on shares of Constellation Brands from $255.00 to $190.00 and set a “hold” rating on the stock in a research note on Tuesday, January 14th. Jefferies Financial Group reiterated a “hold” rating and set a $201.00 target price (down from $310.00) on shares of Constellation Brands in a research note on Monday, January 13th. Finally, UBS Group reduced their price target on shares of Constellation Brands from $265.00 to $223.00 and set a “buy” rating for the company in a report on Friday, January 17th. Ten investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $254.29.

Constellation Brands Stock Performance

Shares of NYSE:STZ opened at $176.00 on Friday. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.10 and a quick ratio of 0.46. The business’s fifty day moving average price is $194.29 and its two-hundred day moving average price is $225.88. Constellation Brands, Inc. has a fifty-two week low of $160.46 and a fifty-two week high of $274.87. The stock has a market capitalization of $31.81 billion, a price-to-earnings ratio of 47.31, a price-to-earnings-growth ratio of 1.52 and a beta of 0.90.

Constellation Brands (NYSE:STZ) last posted its earnings results on Friday, January 10th. The company reported $3.25 earnings per share for the quarter, missing the consensus estimate of $3.33 by ($0.08). The firm had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.53 billion. Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The firm’s revenue for the quarter was down .3% compared to the same quarter last year. During the same period in the previous year, the company posted $3.19 EPS. As a group, analysts predict that Constellation Brands, Inc. will post 13.5 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 7th were issued a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a dividend yield of 2.30%. The ex-dividend date was Friday, February 7th. Constellation Brands’s payout ratio is 108.60%.

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.