Stratos Wealth Advisors LLC lessened its stake in shares of Constellation Brands, Inc. (NYSE:STZ – Free Report) by 5.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,213 shares of the company’s stock after selling 138 shares during the quarter. Stratos Wealth Advisors LLC’s holdings in Constellation Brands were worth $500,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in the stock. United Capital Financial Advisers LLC lifted its stake in shares of Constellation Brands by 2.9% in the 1st quarter. United Capital Financial Advisers LLC now owns 1,552 shares of the company’s stock worth $357,000 after purchasing an additional 44 shares during the period. Bragg Financial Advisors Inc lifted its stake in shares of Constellation Brands by 1.6% in the 4th quarter. Bragg Financial Advisors Inc now owns 2,825 shares of the company’s stock worth $655,000 after purchasing an additional 45 shares during the period. Aries Wealth Management raised its stake in Constellation Brands by 1.6% during the 1st quarter. Aries Wealth Management now owns 2,856 shares of the company’s stock worth $645,000 after acquiring an additional 46 shares during the period. Allworth Financial LP raised its stake in Constellation Brands by 2.1% during the 4th quarter. Allworth Financial LP now owns 2,269 shares of the company’s stock worth $526,000 after acquiring an additional 47 shares during the period. Finally, Ellevest Inc. raised its stake in Constellation Brands by 5.9% during the 4th quarter. Ellevest Inc. now owns 837 shares of the company’s stock worth $194,000 after acquiring an additional 47 shares during the period. Hedge funds and other institutional investors own 86.49% of the company’s stock.
Constellation Brands Stock Up 1.1 %
NYSE STZ opened at $255.47 on Monday. The company has a quick ratio of 0.53, a current ratio of 1.14 and a debt-to-equity ratio of 1.23. The company has a fifty day moving average of $241.52 and a two-hundred day moving average of $230.10. The firm has a market capitalization of $46.83 billion, a price-to-earnings ratio of -139.60, a PEG ratio of 1.89 and a beta of 1.02. Constellation Brands, Inc. has a 52 week low of $208.12 and a 52 week high of $261.32.
Constellation Brands Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 24th. Shareholders of record on Thursday, August 10th will be paid a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 1.39%. The ex-dividend date is Wednesday, August 9th. Constellation Brands’s payout ratio is -194.54%.
Wall Street Analyst Weigh In
STZ has been the topic of a number of recent analyst reports. StockNews.com initiated coverage on shares of Constellation Brands in a research note on Thursday, May 18th. They set a “hold” rating on the stock. Wedbush raised their target price on shares of Constellation Brands from $255.00 to $270.00 in a research note on Wednesday, July 5th. Royal Bank of Canada restated an “outperform” rating and set a $295.00 target price on shares of Constellation Brands in a research note on Monday, April 10th. HSBC raised their target price on shares of Constellation Brands from $275.00 to $280.00 in a research note on Wednesday, June 7th. Finally, TheStreet upgraded shares of Constellation Brands from a “c+” rating to a “b-” rating in a research report on Friday, June 16th. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, Constellation Brands currently has a consensus rating of “Moderate Buy” and an average price target of $262.67.
Insiders Place Their Bets
In other news, major shareholder Business Holdings Lp Ajb sold 650,000 shares of Constellation Brands stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $223.53, for a total transaction of $145,294,500.00. Following the completion of the sale, the insider now directly owns 3,365,715 shares in the company, valued at $752,338,273.95. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Richard Sands sold 3,858,476 shares of Constellation Brands stock in a transaction dated Wednesday, May 10th. The stock was sold at an average price of $223.53, for a total value of $862,485,140.28. Following the completion of the sale, the director now directly owns 20,488,818 shares in the company, valued at $4,579,865,487.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Business Holdings Lp Ajb sold 650,000 shares of Constellation Brands stock in a transaction dated Wednesday, May 10th. The shares were sold at an average price of $223.53, for a total value of $145,294,500.00. Following the completion of the sale, the insider now owns 3,365,715 shares of the company’s stock, valued at $752,338,273.95. The disclosure for this sale can be found here. 16.19% of the stock is owned by insiders.
About Constellation Brands
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 Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Victoria, Vicky Chamoy, and Pacifico brands.
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