Resources Management Corp CT ADV Decreases Stock Holdings in Constellation Brands Inc $STZ

Resources Management Corp CT ADV decreased its holdings in shares of Constellation Brands Inc (NYSE:STZ) by 89.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,030 shares of the company’s stock after selling 8,537 shares during the period. Resources Management Corp CT ADV’s holdings in Constellation Brands were worth $142,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in STZ. Stance Capital LLC purchased a new position in Constellation Brands in the 3rd quarter valued at $26,000. GoalVest Advisory LLC purchased a new position in Constellation Brands in the 4th quarter valued at $28,000. Elyxium Wealth LLC purchased a new position in Constellation Brands in the 4th quarter valued at $33,000. GW&K Investment Management LLC lifted its holdings in Constellation Brands by 58.9% in the 4th quarter. GW&K Investment Management LLC now owns 267 shares of the company’s stock valued at $37,000 after purchasing an additional 99 shares in the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC purchased a new position in Constellation Brands in the 4th quarter valued at $39,000. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Constellation Brands Stock Down 0.3%

Shares of NYSE:STZ opened at $148.06 on Tuesday. The business has a 50-day moving average price of $149.84 and a 200 day moving average price of $150.05. The company has a current ratio of 1.08, a quick ratio of 0.55 and a debt-to-equity ratio of 1.16. The company has a market capitalization of $25.50 billion, a price-to-earnings ratio of 15.44, a PEG ratio of 3.44 and a beta of 0.39. Constellation Brands Inc has a 12-month low of $126.45 and a 12-month high of $178.13.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings data on Wednesday, April 8th. The company reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.71 by $0.19. The firm had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.84 billion. Constellation Brands had a return on equity of 26.18% and a net margin of 17.29%.The company’s quarterly revenue was down 11.3% on a year-over-year basis. During the same period last year, the company earned $2.63 EPS. Sell-side analysts expect that Constellation Brands Inc will post 11.87 EPS for the current year.

Constellation Brands Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Wednesday, April 29th were given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend was Wednesday, April 29th. This is a positive change from Constellation Brands’s previous quarterly dividend of $1.02. Constellation Brands’s dividend payout ratio is 42.96%.

Analysts Set New Price Targets

A number of brokerages have weighed in on STZ. Royal Bank Of Canada restated an “outperform” rating and issued a $185.00 price objective on shares of Constellation Brands in a report on Friday, April 10th. Weiss Ratings restated a “hold (c-)” rating on shares of Constellation Brands in a report on Monday, May 4th. Evercore set a $175.00 price objective on Constellation Brands and gave the company an “outperform” rating in a report on Friday, April 10th. Citigroup restated a “buy” rating on shares of Constellation Brands in a report on Monday, May 18th. Finally, Piper Sandler raised their price objective on Constellation Brands from $146.00 to $160.00 and gave the company a “neutral” rating in a report on Friday, April 10th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $175.26.

Insider Activity

In related news, EVP James O. Bourdeau sold 4,407 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $143.24, for a total transaction of $631,258.68. Following the completion of the sale, the executive vice president directly owned 9,109 shares of the company’s stock, valued at approximately $1,304,773.16. This trade represents a 32.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 12.20% of the company’s stock.

About Constellation Brands

Constellation Brands, Inc is a leading producer and marketer of beer, wine and spirits, with operations spanning production, importation, marketing and distribution. The company’s beverage portfolio includes a range of premium and mainstream wines and spirits alongside major imported beer brands; in the U.S. market Constellation is widely known for its role in bringing Mexican imports such as Corona and Modelo to American consumers. Constellation supplies retail, on‑premise and foodservice channels and supports its brands with national sales and marketing platforms and supply‑chain capabilities.

The company traces its roots to the Canandaigua Wine Company, founded by Marvin Sands in 1945, and evolved through organic growth and acquisition into a diversified beverage company.