Constellation Brands, Inc. (NYSE:STZ) Shares Bought by Essex Financial Services Inc.

Essex Financial Services Inc. raised its holdings in Constellation Brands, Inc. (NYSE:STZ) by 2.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,318 shares of the company’s stock after purchasing an additional 93 shares during the period. Essex Financial Services Inc.’s holdings in Constellation Brands were worth $954,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of STZ. Union Bancaire Privee UBP SA purchased a new stake in Constellation Brands in the 4th quarter valued at approximately $28,000. Versant Capital Management Inc increased its position in Constellation Brands by 887.5% during the fourth quarter. Versant Capital Management Inc now owns 158 shares of the company’s stock worth $35,000 after buying an additional 142 shares in the last quarter. Eastern Bank acquired a new position in shares of Constellation Brands in the third quarter worth $39,000. FSA Wealth Management LLC acquired a new position in shares of Constellation Brands in the third quarter worth $42,000. Finally, Truvestments Capital LLC purchased a new stake in shares of Constellation Brands in the third quarter valued at $60,000. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director William T. Giles acquired 1,000 shares of the business’s 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 directly owns 1,463 shares of the company’s stock, valued at $272,688.57. This represents a 215.98 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Wildstar Partners Llc sold 660 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $241.00, for a total value of $159,060.00. Following the sale, the insider now owns 1,736,884 shares of the company’s stock, valued at $418,589,044. This represents a 0.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 61,746 shares of company stock valued at $15,017,097. Corporate insiders own 12.19% of the company’s stock.

Constellation Brands Price Performance

STZ opened at $164.59 on Wednesday. Constellation Brands, Inc. has a 52-week low of $161.00 and a 52-week high of $274.87. The company has a 50 day moving average of $207.40 and a two-hundred day moving average of $230.56. The company has a market cap of $29.75 billion, a P/E ratio of 44.24, a P/E/G ratio of 1.51 and a beta of 0.90. The company has a quick ratio of 0.46, a current ratio of 1.10 and a debt-to-equity ratio of 1.26.

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). Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The business had revenue of $2.46 billion for the quarter, compared to analysts’ expectations of $2.53 billion. During the same period last year, the company posted $3.19 earnings per share. The firm’s revenue for the quarter was down .3% on a year-over-year basis. On average, analysts expect that Constellation Brands, Inc. will post 13.5 earnings per share for the current year.

Constellation Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Friday, February 7th will be issued a dividend of $1.01 per share. The ex-dividend date is Friday, February 7th. This represents a $4.04 annualized dividend and a dividend yield of 2.45%. Constellation Brands’s payout ratio is currently 108.60%.

Analyst Ratings Changes

STZ has been the subject of several analyst reports. Morgan Stanley cut their target price on shares of Constellation Brands from $280.00 to $220.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. Argus lowered shares of Constellation Brands from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. BNP Paribas assumed coverage on shares of Constellation Brands in a research report on Monday, November 25th. They set a “neutral” rating and a $261.00 target price on the stock. Piper Sandler downgraded Constellation Brands from an “overweight” rating to a “neutral” rating and cut their price target for the company from $245.00 to $200.00 in a report on Monday, February 3rd. Finally, UBS Group reduced their price target on Constellation Brands from $265.00 to $223.00 and set a “buy” rating on the stock in a research note on Friday, January 17th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, Constellation Brands currently has a consensus rating of “Moderate Buy” and a consensus target price of $254.29.

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.