Waterfront Wealth Inc. Grows Stock Position in Constellation Brands, Inc. (NYSE:STZ)

Waterfront Wealth Inc. increased its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 2.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,753 shares of the company’s stock after buying an additional 111 shares during the quarter. Waterfront Wealth Inc.’s holdings in Constellation Brands were worth $1,149,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Impact Partnership Wealth LLC increased its stake in Constellation Brands by 1,175.0% during the third quarter. Impact Partnership Wealth LLC now owns 102 shares of the company’s stock worth $26,000 after acquiring an additional 94 shares during the last quarter. BKM Wealth Management LLC acquired a new stake in Constellation Brands during the fourth quarter worth about $28,000. Asset Dedication LLC increased its stake in Constellation Brands by 3,833.3% during the third quarter. Asset Dedication LLC now owns 118 shares of the company’s stock worth $30,000 after acquiring an additional 115 shares during the last quarter. Resurgent Financial Advisors LLC acquired a new stake in Constellation Brands during the fourth quarter worth about $34,000. Finally, Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Constellation Brands in the fourth quarter valued at about $37,000. 77.34% of the stock is currently owned by hedge funds and other institutional investors.

Constellation Brands Stock Performance

STZ traded down $0.47 during trading hours on Wednesday, hitting $257.31. The company’s stock had a trading volume of 1,530,438 shares, compared to its average volume of 1,275,867. Constellation Brands, Inc. has a fifty-two week low of $221.81 and a fifty-two week high of $274.87. The company has a current ratio of 1.19, a quick ratio of 0.53 and a debt-to-equity ratio of 1.06. The firm has a market capitalization of $47.04 billion, a PE ratio of 27.43, a PEG ratio of 1.75 and a beta of 0.97. The company has a 50-day simple moving average of $257.51 and a 200 day simple moving average of $247.13.

Constellation Brands (NYSE:STZ) last posted its earnings results 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 return on equity of 23.06% and a net margin of 16.13%. The firm had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.09 billion. During the same period last year, the firm earned $1.98 EPS. The firm’s revenue was up 7.1% compared to the same quarter last year. As a group, sell-side analysts expect that Constellation Brands, Inc. will post 13.5 EPS for the current year.

Constellation Brands Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Friday, May 3rd will be given a dividend of $1.01 per share. The ex-dividend date of this dividend is Thursday, May 2nd. 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 1.57%. Constellation Brands’s dividend payout ratio (DPR) is 37.95%.

Analyst Upgrades and Downgrades

STZ has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft increased their target price on Constellation Brands from $256.00 to $262.00 and gave the company a “hold” rating in a research note on Wednesday, April 10th. Barclays increased their target price on Constellation Brands from $294.00 to $295.00 and gave the company an “overweight” rating in a research note on Monday. Evercore ISI increased their target price on Constellation Brands from $300.00 to $310.00 and gave the company an “outperform” rating in a research note on Friday, April 12th. TheStreet lowered Constellation Brands from a “b” rating to a “c+” rating in a research note on Friday, January 5th. Finally, Argus upgraded Constellation Brands from a “hold” rating to a “buy” rating and set a $306.00 price objective for the company in a research note on Monday. Three equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, Constellation Brands currently has a consensus rating of “Moderate Buy” and a consensus price target of $298.55.

Insider Activity

In other news, EVP James A. Jr. Sabia sold 15,781 shares of Constellation Brands stock in a transaction 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 transaction, the executive vice president now directly owns 20,910 shares in the company, valued at approximately $5,512,503.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 16.19% of the stock is owned by 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 Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Victoria, Vicky Chamoy, and Pacifico brands.