Garner Asset Management Corp Sells 443 Shares of Constellation Brands, Inc. (NYSE:STZ)

Garner Asset Management Corp decreased its stake in Constellation Brands, Inc. (NYSE:STZ) by 8.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,525 shares of the company’s stock after selling 443 shares during the period. Garner Asset Management Corp’s holdings in Constellation Brands were worth $1,096,000 as of its most recent filing with the SEC.

Other large investors have also recently modified their holdings of the company. BKM Wealth Management LLC bought a new stake in Constellation Brands in the 4th quarter worth $28,000. Asset Dedication LLC lifted its position in Constellation Brands by 3,833.3% during the third quarter. Asset Dedication LLC now owns 118 shares of the company’s stock valued at $30,000 after purchasing an additional 115 shares during the period. Turtle Creek Wealth Advisors LLC bought a new position in Constellation Brands during the fourth quarter valued at approximately $37,000. Exchange Traded Concepts LLC bought a new position in Constellation Brands during the fourth quarter valued at approximately $45,000. Finally, VisionPoint Advisory Group LLC bought a new position in Constellation Brands during the third quarter valued at approximately $58,000. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on STZ. Bank of America upped their target price on shares of Constellation Brands from $290.00 to $300.00 and gave the company a “buy” rating in a report on Monday, March 18th. HSBC upped their target price on shares of Constellation Brands from $290.00 to $300.00 and gave the company a “buy” rating in a report on Friday, April 12th. Argus raised shares of Constellation Brands from a “hold” rating to a “buy” rating and set a $306.00 target price for the company in a report on Monday, April 15th. Roth Mkm reaffirmed a “buy” rating and set a $305.00 target price on shares of Constellation Brands in a report on Friday, April 12th. Finally, Jefferies Financial Group increased their price objective on shares of Constellation Brands from $292.00 to $314.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. Three research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $298.20.

Constellation Brands Stock Performance

NYSE STZ traded down $0.65 on Tuesday, hitting $251.03. 1,058,808 shares of the company’s stock traded hands, compared to its average volume of 1,192,787. The company has a current ratio of 1.19, a quick ratio of 0.53 and a debt-to-equity ratio of 1.06. Constellation Brands, Inc. has a 1-year low of $227.50 and a 1-year high of $274.87. The firm’s 50-day moving average price is $256.41 and its two-hundred day moving average price is $251.69. The firm has a market capitalization of $45.93 billion, a PE ratio of 26.83, a P/E/G ratio of 1.69 and a beta of 0.89.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings data on Thursday, April 11th. The company reported $2.26 EPS 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 analysts’ expectations of $2.09 billion. During the same period in the previous year, the business posted $1.98 EPS. The business’s quarterly revenue was up 7.1% compared to the same quarter last year. As a group, analysts expect that Constellation Brands, Inc. will post 13.54 EPS for the current year.

Constellation Brands Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 17th. Investors of record on Friday, May 3rd were paid a $1.01 dividend. This is a boost from Constellation Brands’s previous quarterly dividend of $0.89. This represents a $4.04 annualized dividend and a dividend yield of 1.61%. The ex-dividend date of this dividend was Thursday, May 2nd. Constellation Brands’s payout ratio is currently 43.07%.

Insider Activity at Constellation Brands

In related news, EVP James A. Jr. Sabia sold 15,781 shares of the company’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 $5,512,503.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Constellation Brands news, EVP James A. Jr. Sabia sold 15,781 shares of the stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 20,910 shares in the company, valued at $5,512,503.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michael Mcgrew sold 3,237 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $255.50, for a total value of $827,053.50. Following the sale, the executive vice president now directly owns 1,731 shares of the company’s stock, valued at $442,270.50. The disclosure for this sale can be found here. Insiders sold a total of 48,031 shares of company stock worth $12,582,321 in the last three months. Company insiders own 12.19% of the company’s stock.

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.