Forza Wealth Management LLC Makes New Investment in Constellation Brands, Inc. (NYSE:STZ)

Forza Wealth Management LLC bought a new position in shares of Constellation Brands, Inc. (NYSE:STZ) during the first quarter, HoldingsChannel reports. The firm bought 736 shares of the company’s stock, valued at approximately $200,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in STZ. Capital Advisors Ltd. LLC increased its position in shares of Constellation Brands by 16.5% during the first quarter. Capital Advisors Ltd. LLC now owns 290 shares of the company’s stock valued at $79,000 after purchasing an additional 41 shares during the period. Burns Matteson Capital Management LLC increased its holdings in Constellation Brands by 1.7% in the 4th quarter. Burns Matteson Capital Management LLC now owns 2,499 shares of the company’s stock valued at $604,000 after buying an additional 42 shares during the period. 1620 Investment Advisors Inc. raised its stake in shares of Constellation Brands by 1.8% in the 4th quarter. 1620 Investment Advisors Inc. now owns 2,352 shares of the company’s stock valued at $569,000 after buying an additional 42 shares in the last quarter. FAS Wealth Partners Inc. lifted its holdings in shares of Constellation Brands by 3.5% during the 4th 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. Finally, Smithfield Trust Co boosted its position in shares of Constellation Brands by 5.3% during the 4th quarter. Smithfield Trust Co now owns 854 shares of the company’s stock valued at $207,000 after acquiring an additional 43 shares in the last quarter. 77.34% of the stock is currently owned by institutional investors.

Constellation Brands Trading Up 0.4 %

Shares of STZ traded up $1.15 during trading hours on Monday, hitting $261.19. 573,434 shares of the stock traded hands, compared to its average volume of 1,245,248. The business has a fifty day moving average of $260.15 and a 200-day moving average of $248.31. The firm has a market capitalization of $47.75 billion, a PE ratio of 27.85, a price-to-earnings-growth ratio of 1.76 and a beta of 0.97. Constellation Brands, Inc. has a 1-year low of $221.81 and a 1-year high of $274.87. The company has a current ratio of 1.19, a quick ratio of 0.53 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 the consensus estimate of $2.10 by $0.16. The firm had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.09 billion. Constellation Brands had a return on equity of 23.06% and a net margin of 16.13%. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.98 EPS. Analysts expect that Constellation Brands, Inc. will post 13.51 EPS for the current year.

Constellation Brands Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Friday, May 3rd will be issued a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date is Thursday, May 2nd. This is a positive change from Constellation Brands’s previous quarterly dividend of $0.89. Constellation Brands’s payout ratio is currently 37.95%.

Insider Activity at Constellation Brands

In other Constellation Brands news, EVP James A. Jr. Sabia sold 15,781 shares of the company’s stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $263.63, for a total value of $4,160,345.03. Following the completion of the sale, the executive vice president now owns 20,910 shares of the company’s stock, valued at $5,512,503.30. The sale was disclosed in a legal filing 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 company’s stock in a transaction on Friday, April 12th. The shares were sold at an average price of $263.63, for a total value of $4,160,345.03. Following the completion of the sale, the executive vice president now owns 20,910 shares in the company, valued at approximately $5,512,503.30. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, 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 value of $1,056,422.25. Following the completion of the transaction, the chief executive officer now directly owns 5,395 shares of the company’s stock, valued at $1,420,233.75. The disclosure for this sale can be found here. 16.19% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on STZ. HSBC increased their price target 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 boosted their price target on Constellation Brands from $294.00 to $295.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. BMO Capital Markets increased their price objective on Constellation Brands from $290.00 to $315.00 and gave the stock an “outperform” rating in a research note on Friday, April 12th. Piper Sandler started coverage on shares of 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, TheStreet lowered shares of Constellation Brands from a “b” rating to a “c+” rating in a research report on Friday, January 5th. Three 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 stock currently 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.