Checchi Capital Advisers LLC Sells 743 Shares of Constellation Brands Inc (NYSE:STZ)

Checchi Capital Advisers LLC reduced its position in shares of Constellation Brands Inc (NYSE:STZ) by 33.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,492 shares of the company’s stock after selling 743 shares during the quarter. Checchi Capital Advisers LLC’s holdings in Constellation Brands were worth $274,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in STZ. Brighton Jones LLC raised its position in Constellation Brands by 23.0% during the fourth quarter. Brighton Jones LLC now owns 1,001 shares of the company’s stock worth $221,000 after acquiring an additional 187 shares in the last quarter. Bank Pictet & Cie Europe AG raised its position in Constellation Brands by 39.7% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 6,096 shares of the company’s stock worth $1,347,000 after acquiring an additional 1,733 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in Constellation Brands during the fourth quarter worth $26,000. Steward Partners Investment Advisory LLC raised its position in Constellation Brands by 5.5% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 15,682 shares of the company’s stock worth $3,466,000 after acquiring an additional 821 shares in the last quarter. Finally, Assetmark Inc. raised its position in Constellation Brands by 10.9% during the fourth quarter. Assetmark Inc. now owns 25,071 shares of the company’s stock worth $5,541,000 after acquiring an additional 2,462 shares in the last quarter. 77.34% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

STZ has been the subject of several research analyst reports. The Goldman Sachs Group set a $225.00 target price on shares of Constellation Brands and gave the stock a “buy” rating in a report on Friday, June 27th. Wells Fargo & Company decreased their price target on shares of Constellation Brands from $210.00 to $196.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 25th. Truist Financial upgraded shares of Constellation Brands from a “hold” rating to a “buy” rating and upped their price target for the company from $190.00 to $215.00 in a research note on Wednesday, May 7th. Needham & Company LLC upped their price target on shares of Constellation Brands from $195.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Bank of America upped their price target on shares of Constellation Brands from $180.00 to $182.00 and gave the company a “neutral” rating in a research note on Thursday. Eleven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $213.35.

Constellation Brands Stock Down 0.7%

Shares of STZ opened at $172.61 on Friday. Constellation Brands Inc has a 12 month low of $159.35 and a 12 month high of $264.45. The firm’s 50 day moving average is $177.11 and its 200-day moving average is $183.33. The stock has a market capitalization of $30.73 billion, a PE ratio of -72.22, a P/E/G ratio of 9.57 and a beta of 0.67. The company has a current ratio of 1.07, a quick ratio of 0.56 and a debt-to-equity ratio of 1.30.

Constellation Brands (NYSE:STZ) last announced its earnings results on Tuesday, July 1st. The company reported $3.22 EPS for the quarter, missing the consensus estimate of $3.45 by ($0.23). The business had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.57 billion. Constellation Brands had a positive return on equity of 31.41% and a negative net margin of 4.11%. The firm’s revenue for the quarter was down 5.5% compared to the same quarter last year. During the same period in the prior year, the business posted $3.57 earnings per share. Equities research analysts forecast that Constellation Brands Inc will post 13.5 EPS for the current year.

Constellation Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Wednesday, July 30th will be paid a $1.02 dividend. The ex-dividend date is Wednesday, July 30th. This represents a $4.08 dividend on an annualized basis and a yield of 2.36%. Constellation Brands’s dividend payout ratio (DPR) is -170.71%.

Insider Transactions at Constellation Brands

In related news, EVP Samuel J. Glaetzer sold 3,150 shares of Constellation Brands stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $188.54, for a total value of $593,901.00. Following the transaction, the executive vice president directly owned 3,126 shares of the company’s stock, valued at $589,376.04. This trade represents a 50.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 12.45% of the stock is owned by company insiders.

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.