Avior Wealth Management LLC Reduces Stock Position in Constellation Brands Inc (NYSE:STZ)

Avior Wealth Management LLC lessened its holdings in Constellation Brands Inc (NYSE:STZ) by 85.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 220 shares of the company’s stock after selling 1,325 shares during the quarter. Avior Wealth Management LLC’s holdings in Constellation Brands were worth $40,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Kentucky Trust Co grew its holdings in shares of Constellation Brands by 28.3% during the first quarter. Kentucky Trust Co now owns 1,405 shares of the company’s stock worth $258,000 after purchasing an additional 310 shares during the last quarter. ORG Wealth Partners LLC purchased a new position in shares of Constellation Brands during the first quarter worth about $107,000. Plimoth Trust Co. LLC grew its holdings in shares of Constellation Brands by 35.5% during the first quarter. Plimoth Trust Co. LLC now owns 9,296 shares of the company’s stock worth $1,706,000 after purchasing an additional 2,436 shares during the last quarter. Premier Path Wealth Partners LLC grew its holdings in shares of Constellation Brands by 31.0% during the first quarter. Premier Path Wealth Partners LLC now owns 7,390 shares of the company’s stock worth $1,356,000 after purchasing an additional 1,748 shares during the last quarter. Finally, Johnson Investment Counsel Inc. grew its holdings in shares of Constellation Brands by 8.1% during the first quarter. Johnson Investment Counsel Inc. now owns 2,495 shares of the company’s stock worth $458,000 after purchasing an additional 187 shares during the last quarter. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Insider Activity

In other 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 transaction of $593,901.00. Following the completion of the sale, the executive vice president now directly owns 3,126 shares in the company, valued at approximately $589,376.04. This trade represents a 50.19% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 12.45% of the company’s stock.

Constellation Brands Price Performance

Shares of NYSE:STZ opened at $163.08 on Tuesday. The company has a quick ratio of 0.56, a current ratio of 0.92 and a debt-to-equity ratio of 1.30. The company has a market cap of $29.03 billion, a P/E ratio of -319.76, a PEG ratio of 8.96 and a beta of 0.70. Constellation Brands Inc has a 52 week low of $159.35 and a 52 week high of $265.70. The company has a 50-day moving average price of $180.67 and a 200 day moving average price of $187.43.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings data on Wednesday, April 9th. The company reported $2.63 EPS for the quarter, beating analysts’ consensus estimates of $2.28 by $0.35. The firm had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.14 billion. Constellation Brands had a negative net margin of 0.74% and a positive return on equity of 29.56%. The firm’s revenue was up 1.2% compared to the same quarter last year. During the same quarter last year, the firm earned $2.26 earnings per share. Research analysts predict that Constellation Brands Inc will post 13.5 earnings per share for the current year.

Constellation Brands Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Tuesday, April 29th were given a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.50%. This is an increase from Constellation Brands’s previous quarterly dividend of $1.01. The ex-dividend date of this dividend was Tuesday, April 29th. Constellation Brands’s dividend payout ratio (DPR) is presently -800.00%.

Analyst Ratings Changes

Several equities analysts have issued reports on STZ shares. Bernstein Bank dropped their price objective on Constellation Brands from $260.00 to $225.00 and set an “outperform” rating on the stock in a report on Thursday, April 10th. Royal Bank Of Canada dropped their price objective on Constellation Brands from $289.00 to $233.00 and set an “outperform” rating on the stock in a report on Monday, April 14th. CJS Securities decreased their target price on shares of Constellation Brands from $196.00 to $194.00 in a research note on Monday, May 19th. Needham & Company LLC reiterated a “buy” rating and set a $215.00 target price on shares of Constellation Brands in a research note on Thursday, April 10th. Finally, BMO Capital Markets decreased their target price on shares of Constellation Brands from $260.00 to $215.00 and set an “outperform” rating for the company in a research note on Friday, April 11th. Eleven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, Constellation Brands presently has a consensus rating of “Moderate Buy” and a consensus price target of $215.87.

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.