Benedict Financial Advisors Inc. Grows Position in Constellation Brands, Inc. (NYSE:STZ)

Benedict Financial Advisors Inc. boosted its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 4.3% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 6,268 shares of the company’s stock after acquiring an additional 258 shares during the period. Benedict Financial Advisors Inc.’s holdings in Constellation Brands were worth $1,615,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. PFG Investments LLC grew its stake in shares of Constellation Brands by 3.8% in the 3rd quarter. PFG Investments LLC now owns 1,150 shares of the company’s stock valued at $296,000 after buying an additional 42 shares during the period. Arkadios Wealth Advisors increased its stake in Constellation Brands by 60.2% during the 3rd quarter. Arkadios Wealth Advisors now owns 2,363 shares of the company’s stock worth $609,000 after buying an additional 888 shares during the period. Forsta AP Fonden increased its position in shares of Constellation Brands by 11.0% during the third quarter. Forsta AP Fonden now owns 37,400 shares of the company’s stock worth $9,638,000 after acquiring an additional 3,700 shares during the period. Strategic Investment Solutions Inc. IL raised its position in Constellation Brands by 4.6% in the 3rd quarter. Strategic Investment Solutions Inc. IL now owns 1,158 shares of the company’s stock valued at $298,000 after purchasing an additional 51 shares in the last quarter. Finally, Coerente Capital Management lifted its stake in Constellation Brands by 1.2% in the third quarter. Coerente Capital Management now owns 89,646 shares of the company’s stock worth $23,101,000 after acquiring an additional 1,042 shares during the last quarter. 77.34% of the stock is owned by hedge funds and other institutional investors.

Constellation Brands Stock Performance

STZ traded down $1.33 on Friday, hitting $239.38. 860,981 shares of the stock traded hands, compared to its average volume of 1,188,132. The firm has a market capitalization of $43.80 billion, a PE ratio of 17.84, a P/E/G ratio of 1.70 and a beta of 1.75. Constellation Brands, Inc. has a 52 week low of $227.64 and a 52 week high of $274.87. The business has a fifty day moving average price of $246.34 and a two-hundred day moving average price of $250.69. The company has a current ratio of 1.25, a quick ratio of 0.53 and a debt-to-equity ratio of 1.31.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings data on Thursday, October 3rd. The company reported $4.32 earnings per share for the quarter, topping the consensus estimate of $4.08 by $0.24. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. The company had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.95 billion. During the same quarter last year, the business posted $3.70 earnings per share. The company’s revenue was up 2.9% on a year-over-year basis. On average, research analysts predict that Constellation Brands, Inc. will post 13.57 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Tuesday, November 5th will be issued a $1.01 dividend. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $4.04 dividend on an annualized basis and a yield of 1.69%. Constellation Brands’s dividend payout ratio is presently 30.10%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Barclays lowered their price target on Constellation Brands from $309.00 to $300.00 and set an “overweight” rating for the company in a report on Monday, October 7th. JPMorgan Chase & Co. reduced their target price on shares of Constellation Brands from $307.00 to $293.00 and set an “overweight” rating for the company in a research note on Friday, October 4th. Truist Financial cut their price objective on Constellation Brands from $265.00 to $255.00 and set a “hold” rating for the company in a research report on Friday, October 4th. Jefferies Financial Group lifted their price target on shares of Constellation Brands from $310.00 to $311.00 and gave the company a “buy” rating in a research report on Friday, July 5th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $308.00 target price on shares of Constellation Brands in a report on Friday, October 4th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $290.47.

Insider Activity at Constellation Brands

In related news, CFO Garth Hankinson sold 13,583 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $240.00, for a total value of $3,259,920.00. Following the completion of the transaction, the chief financial officer now directly owns 11,702 shares in the company, valued at approximately $2,808,480. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Constellation Brands news, Director Robert Sands sold 119,274 shares of the company’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $242.37, for a total value of $28,908,439.38. Following the transaction, the director now directly owns 431,729 shares in the company, valued at $104,638,157.73. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Garth Hankinson sold 13,583 shares of Constellation Brands stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $240.00, for a total value of $3,259,920.00. Following the sale, the chief financial officer now directly owns 11,702 shares of the company’s stock, valued at approximately $2,808,480. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 134,367 shares of company stock worth $32,539,170 in the last ninety days. Company 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.