Constellation Brands, Inc. (NYSE:STZ) Position Lifted by Belpointe Asset Management LLC

Belpointe Asset Management LLC increased its holdings in Constellation Brands, Inc. (NYSE:STZ) by 67.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,788 shares of the company’s stock after acquiring an additional 2,333 shares during the quarter. Belpointe Asset Management LLC’s holdings in Constellation Brands were worth $1,015,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Versant Capital Management Inc lifted its stake in shares of Constellation Brands by 210.9% in the first quarter. Versant Capital Management Inc now owns 143 shares of the company’s stock worth $25,000 after acquiring an additional 97 shares in the last quarter. Mosaic Family Wealth LLC acquired a new stake in Constellation Brands during the first quarter valued at approximately $27,000. Bay Harbor Wealth Management LLC acquired a new stake in Constellation Brands during the first quarter valued at approximately $33,000. Global Retirement Partners LLC raised its stake in Constellation Brands by 74.4% during the first quarter. Global Retirement Partners LLC now owns 211 shares of the company’s stock valued at $37,000 after buying an additional 90 shares in the last quarter. Finally, Horan Capital Advisors LLC. acquired a new stake in Constellation Brands during the first quarter valued at approximately $44,000. Institutional investors and hedge funds own 70.84% of the company’s stock.

In related news, CMO James A. Jr. Sabia sold 4,275 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $194.70, for a total value of $832,342.50. Following the completion of the transaction, the chief marketing officer now directly owns 43,494 shares of the company’s stock, valued at approximately $8,468,281.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Robert Sands sold 23,611 shares of the stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $206.48, for a total value of $4,875,199.28. Following the completion of the transaction, the chairman now directly owns 570,857 shares of the company’s stock, valued at $117,870,553.36. The disclosure for this sale can be found here. Insiders sold a total of 80,921 shares of company stock valued at $16,404,441 over the last three months. Corporate insiders own 15.86% of the company’s stock.

Several analysts have issued reports on STZ shares. Jefferies Financial Group restated a “buy” rating on shares of Constellation Brands in a research note on Thursday, February 21st. Zacks Investment Research upgraded Constellation Brands from a “sell” rating to a “hold” rating in a research note on Monday, March 4th. Credit Suisse Group started coverage on Constellation Brands in a research note on Wednesday, March 6th. They set an “outperform” rating and a $230.00 price objective on the stock. ValuEngine upgraded Constellation Brands from a “sell” rating to a “hold” rating in a research note on Thursday, April 4th. Finally, Deutsche Bank cut Constellation Brands from a “buy” rating to a “hold” rating and increased their price target for the stock from $191.00 to $194.00 in a research report on Friday, April 5th. Eleven research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the stock. Constellation Brands presently has a consensus rating of “Buy” and an average target price of $224.13.

Shares of Constellation Brands stock traded down $1.71 on Friday, reaching $187.63. 724,121 shares of the company were exchanged, compared to its average volume of 1,909,789. The company has a current ratio of 1.16, a quick ratio of 0.49 and a debt-to-equity ratio of 0.92. The stock has a market capitalization of $35.90 billion, a price-to-earnings ratio of 20.22, a PEG ratio of 2.55 and a beta of 0.68. Constellation Brands, Inc. has a 1-year low of $150.37 and a 1-year high of $234.26.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Thursday, April 4th. The company reported $1.84 earnings per share for the quarter, topping analysts’ consensus estimates of $1.72 by $0.12. Constellation Brands had a return on equity of 15.63% and a net margin of 38.67%. The business had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same period in the prior year, the firm earned $1.90 EPS. The business’s quarterly revenue was up 2.0% on a year-over-year basis. Sell-side analysts predict that Constellation Brands, Inc. will post 8.56 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Friday, May 10th were issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.60%. This is a positive change from Constellation Brands’s previous quarterly dividend of $0.74. The ex-dividend date of this dividend was Thursday, May 9th. Constellation Brands’s dividend payout ratio is 32.33%.

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About Constellation Brands

Constellation Brands, Inc, together with its subsidiaries, produces, imports, and markets beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. It provides beer primarily under the Corona Extra, Corona Light, Corona Premier, Corona Familiar Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands, as well as Funky Buddha, Four Corners, and Ballast Point brands.

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Institutional Ownership by Quarter for Constellation Brands (NYSE:STZ)

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