Pinnacle Wealth Management Advisory Group LLC Cuts Position in Constellation Brands, Inc. (NYSE:STZ)

Pinnacle Wealth Management Advisory Group LLC decreased its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 7.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,194 shares of the company’s stock after selling 95 shares during the period. Pinnacle Wealth Management Advisory Group LLC’s holdings in Constellation Brands were worth $289,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in STZ. BKM Wealth Management LLC purchased a new stake in Constellation Brands in the fourth quarter worth approximately $28,000. Asset Dedication LLC boosted its stake in shares of Constellation Brands by 3,833.3% in the 3rd quarter. Asset Dedication LLC now owns 118 shares of the company’s stock valued at $30,000 after purchasing an additional 115 shares in the last quarter. Turtle Creek Wealth Advisors LLC bought a new position in shares of Constellation Brands during the 4th quarter valued at $37,000. Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of Constellation Brands during the 3rd quarter valued at $41,000. Finally, Exchange Traded Concepts LLC purchased a new position in Constellation Brands in the 4th quarter worth $45,000. Institutional investors own 77.34% of the company’s stock.

Insider Buying and Selling at Constellation Brands

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 stock was sold at an average price of $263.63, for a total transaction 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 $5,512,503.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, EVP James A. Jr. Sabia sold 15,781 shares of the business’s stock in a transaction on Friday, April 12th. The shares were sold at an average price of $263.63, for a total transaction 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 approximately $5,512,503.30. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO William A. Newlands sold 4,013 shares of the company’s stock in a transaction on Friday, April 19th. The stock was sold at an average price of $263.25, for a total value of $1,056,422.25. Following the completion of the sale, the chief executive officer now owns 5,395 shares of the company’s stock, valued at $1,420,233.75. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,031 shares of company stock worth $6,043,821. Company insiders own 16.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on STZ. Jefferies Financial Group lifted their price objective on Constellation Brands from $292.00 to $314.00 and gave the stock a “buy” rating in a report on Friday, April 12th. Royal Bank of Canada boosted their price objective on Constellation Brands from $295.00 to $308.00 and gave the company an “outperform” rating in a research report on Friday, April 12th. Piper Sandler began coverage on shares of Constellation Brands in a report on Friday, March 22nd. They issued an “overweight” rating and a $300.00 target price on the stock. UBS Group upped their price target on shares of Constellation Brands from $312.00 to $320.00 and gave the company a “buy” rating in a report on Friday, April 12th. Finally, Roth Mkm reissued a “buy” rating and issued a $305.00 price target on shares of Constellation Brands in a report on Friday, April 12th. Three equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat.com, Constellation Brands presently has a consensus rating of “Moderate Buy” and an average price target of $298.55.

Constellation Brands Stock Up 0.9 %

Shares of STZ traded up $2.27 during trading hours on Thursday, hitting $260.63. The company had a trading volume of 200,654 shares, compared to its average volume of 1,204,536. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.53 and a current ratio of 1.19. The stock has a market capitalization of $47.69 billion, a price-to-earnings ratio of 27.78, a P/E/G ratio of 1.73 and a beta of 1.75. Constellation Brands, Inc. has a 52-week low of $223.01 and a 52-week high of $274.87. The firm has a fifty day moving average price of $261.27 and a 200-day moving average price of $249.24.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings results on Thursday, April 11th. The company reported $2.26 EPS for the quarter, beating analysts’ consensus estimates of $2.10 by $0.16. The firm had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.09 billion. Constellation Brands had a net margin of 16.13% and a return on equity of 23.06%. The business’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.98 earnings per share. On average, equities research analysts forecast that Constellation Brands, Inc. will post 13.51 EPS for the current fiscal 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 given a $1.01 dividend. This is a positive change from Constellation Brands’s previous quarterly dividend of $0.89. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $4.04 dividend on an annualized basis and a yield of 1.55%. Constellation Brands’s payout ratio is 43.07%.

Constellation Brands 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.