Forza Wealth Management LLC Buys Shares of 736 Constellation Brands, Inc. (NYSE:STZ)

Forza Wealth Management LLC purchased a new position in Constellation Brands, Inc. (NYSE:STZ) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 736 shares of the company’s stock, valued at approximately $200,000.

Several other institutional investors and hedge funds have also made changes to their positions in STZ. Impact Partnership Wealth LLC raised its stake in Constellation Brands by 1,175.0% in the 3rd quarter. Impact Partnership Wealth LLC now owns 102 shares of the company’s stock valued at $26,000 after purchasing an additional 94 shares during the last quarter. BKM Wealth Management LLC purchased a new stake in shares of Constellation Brands during the fourth quarter worth about $28,000. Asset Dedication LLC raised its position in shares of Constellation Brands by 3,833.3% in the third quarter. Asset Dedication LLC now owns 118 shares of the company’s stock valued at $30,000 after buying an additional 115 shares during the last quarter. Kapitalo Investimentos Ltda purchased a new position in shares of Constellation Brands during the fourth quarter valued at approximately $35,000. Finally, First Financial Corp IN acquired a new stake in Constellation Brands during the first quarter worth approximately $35,000. 77.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on STZ. UBS Group boosted their price target on Constellation Brands from $312.00 to $320.00 and gave the company a “buy” rating in a report on Friday, April 12th. BMO Capital Markets lifted their price target on Constellation Brands from $290.00 to $315.00 and gave the company an “outperform” rating in a report on Friday, April 12th. Evercore ISI increased their price objective on shares of Constellation Brands from $300.00 to $310.00 and gave the stock an “outperform” rating in a report on Friday, April 12th. Wedbush restated an “outperform” rating and issued a $300.00 target price on shares of Constellation Brands in a report on Wednesday, April 10th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Constellation Brands from $256.00 to $262.00 and gave the stock a “hold” rating in a research note on Wednesday, April 10th. Three 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, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $298.55.

Constellation Brands Stock Up 0.4 %

Constellation Brands stock traded up $1.15 during midday trading on Monday, hitting $261.19. 573,434 shares of the company were exchanged, compared to its average volume of 1,245,248. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.19 and a quick ratio of 0.53. Constellation Brands, Inc. has a fifty-two week low of $221.81 and a fifty-two week high of $274.87. The company’s fifty day moving average price is $260.15 and its 200-day moving average price is $248.31. The company has a market cap of $47.75 billion, a PE ratio of 27.85, a price-to-earnings-growth ratio of 1.76 and a beta of 0.97.

Constellation Brands (NYSE:STZ) last announced its earnings results on Thursday, April 11th. The company reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.10 by $0.16. Constellation Brands had a net margin of 16.13% and a return on equity of 23.06%. The business had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.09 billion. During the same period in the prior year, the firm earned $1.98 earnings per share. The business’s quarterly revenue was up 7.1% compared to the same quarter last year. On average, research analysts predict that Constellation Brands, Inc. will post 13.51 EPS for the current fiscal year.

Constellation Brands Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Friday, May 3rd will be paid a $1.01 dividend. This is a boost 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 annualized dividend and a dividend yield of 1.55%. Constellation Brands’s payout ratio is 37.95%.

Insider Activity at Constellation Brands

In other news, EVP James A. Jr. Sabia sold 15,781 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 20,910 shares in the company, valued at approximately $5,512,503.30. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, EVP James A. Jr. Sabia sold 15,781 shares of the business’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $263.63, for a total value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William A. Newlands sold 4,013 shares of the stock in a transaction dated Friday, April 19th. The stock was sold at an average price of $263.25, for a total transaction of $1,056,422.25. Following the transaction, the chief executive officer now directly owns 5,395 shares in the company, valued at approximately $1,420,233.75. The disclosure for this sale can be found here. 16.19% of the stock is currently 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 Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Victoria, Vicky Chamoy, and Pacifico brands.