Golden State Wealth Management LLC Grows Holdings in Constellation Brands Inc (NYSE:STZ)

Golden State Wealth Management LLC increased its position in shares of Constellation Brands Inc (NYSE:STZ) by 137.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,204 shares of the company’s stock after buying an additional 1,274 shares during the period. Golden State Wealth Management LLC’s holdings in Constellation Brands were worth $405,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mainstream Capital Management LLC purchased a new stake in Constellation Brands during the 4th quarter worth $25,000. SBI Securities Co. Ltd. purchased a new stake in Constellation Brands during the 4th quarter worth $26,000. Minot DeBlois Advisors LLC purchased a new stake in Constellation Brands during the 4th quarter worth $29,000. Optiver Holding B.V. purchased a new stake in Constellation Brands during the 4th quarter worth $31,000. Finally, Whipplewood Advisors LLC purchased a new stake in Constellation Brands during the 4th quarter worth $36,000. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Constellation Brands Trading Up 0.0%

NYSE STZ opened at $161.34 on Friday. Constellation Brands Inc has a one year low of $159.35 and a one year high of $264.45. The company has a 50-day simple moving average of $178.84 and a 200-day simple moving average of $185.96. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.56 and a current ratio of 0.92. The firm has a market capitalization of $28.72 billion, a PE ratio of -316.35, a price-to-earnings-growth ratio of 8.92 and a beta of 0.70.

Constellation Brands (NYSE:STZ) last posted its earnings results on Wednesday, April 9th. The company reported $2.63 earnings per share (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 analyst estimates of $2.14 billion. Constellation Brands had a negative net margin of 0.74% and a positive return on equity of 29.56%. Constellation Brands’s revenue was up 1.2% on a year-over-year basis. During the same period in the previous year, the business posted $2.26 EPS. On average, equities analysts forecast that Constellation Brands Inc will post 13.5 earnings per share for the current year.

Constellation Brands Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Tuesday, April 29th were paid a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a yield of 2.53%. This is a positive change from Constellation Brands’s previous quarterly dividend of $1.01. The ex-dividend date was Tuesday, April 29th. Constellation Brands’s payout ratio is presently -800.00%.

Analysts Set New Price Targets

STZ has been the subject of several recent analyst reports. Citigroup decreased their price objective on shares of Constellation Brands from $190.00 to $170.00 and set a “neutral” rating for the company in a report on Wednesday, June 18th. Bernstein Bank decreased their price objective on shares of Constellation Brands from $260.00 to $225.00 and set an “outperform” rating for the company in a report on Thursday, April 10th. BMO Capital Markets decreased their price objective on shares of Constellation Brands from $260.00 to $215.00 and set an “outperform” rating for the company in a report on Friday, April 11th. Jefferies Financial Group decreased their price objective on shares of Constellation Brands from $201.00 to $196.00 in a report on Friday, April 11th. Finally, The Goldman Sachs Group set a $225.00 price objective on shares of Constellation Brands and gave the stock a “buy” rating in a report on Friday. Eleven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $211.91.

Insider Buying and Selling at Constellation Brands

In other Constellation Brands news, EVP Samuel J. Glaetzer sold 3,150 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 3,126 shares of the company’s stock, valued at $589,376.04. The trade was a 50.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 12.45% of the stock is currently owned by company insiders.

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.