Prentice Wealth Management LLC Decreases Stock Holdings in Constellation Brands, Inc. (NYSE:STZ)

Prentice Wealth Management LLC lessened its holdings in Constellation Brands, Inc. (NYSE:STZ) by 3.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,369 shares of the company’s stock after selling 135 shares during the quarter. Prentice Wealth Management LLC’s holdings in Constellation Brands were worth $745,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Van ECK Associates Corp boosted its position in shares of Constellation Brands by 1,844.7% during the 4th quarter. Van ECK Associates Corp now owns 924,274 shares of the company’s stock worth $204,265,000 after acquiring an additional 876,745 shares in the last quarter. Copperleaf Capital LLC purchased a new stake in Constellation Brands during the fourth quarter worth approximately $343,000. Grimes & Company Inc. acquired a new position in Constellation Brands in the fourth quarter valued at approximately $6,099,000. Empowered Funds LLC boosted its holdings in Constellation Brands by 62.8% in the fourth quarter. Empowered Funds LLC now owns 16,575 shares of the company’s stock valued at $3,663,000 after purchasing an additional 6,391 shares in the last quarter. Finally, Southern Style Financial Inc. purchased a new position in Constellation Brands in the fourth quarter valued at approximately $3,074,000. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Constellation Brands Stock Performance

STZ opened at $176.00 on Friday. The stock’s 50 day simple moving average is $194.29 and its 200 day simple moving average is $225.88. The stock has a market cap of $31.81 billion, a P/E ratio of 47.31, a P/E/G ratio of 1.52 and a beta of 0.90. Constellation Brands, Inc. has a 1-year low of $160.46 and a 1-year high of $274.87. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.10 and a quick ratio of 0.46.

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

Constellation Brands Announces Dividend

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

Wall Street Analysts Forecast Growth

STZ has been the subject of several recent analyst reports. JPMorgan Chase & Co. restated a “neutral” rating and set a $203.00 price objective (down previously from $262.00) on shares of Constellation Brands in a research report on Monday, January 13th. Truist Financial reduced their price target on shares of Constellation Brands from $255.00 to $190.00 and set a “hold” rating for the company in a research report on Tuesday, January 14th. Roth Capital decreased their price target on shares of Constellation Brands from $298.00 to $284.00 and set a “buy” rating for the company in a research note on Friday, January 17th. Needham & Company LLC reaffirmed a “buy” rating and issued a $240.00 target price on shares of Constellation Brands in a report on Monday, January 27th. Finally, Argus cut Constellation Brands from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Ten investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Constellation Brands presently has an average rating of “Moderate Buy” and a consensus price target of $254.29.

Insider Transactions at Constellation Brands

In related news, Director William T. Giles bought 1,000 shares of the stock in a transaction on Friday, January 17th. The shares were purchased at an average price of $186.39 per share, for a total transaction of $186,390.00. Following the acquisition, the director now owns 1,463 shares in the company, valued at $272,688.57. This represents a 215.98 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 12.19% of the company’s stock.

Constellation Brands Company 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.