Welch & Forbes LLC Has $18.80 Million Position in Constellation Brands, Inc. (NYSE:STZ)

Welch & Forbes LLC lessened its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 0.5% in the fourth quarter, Holdings Channel.com reports. The fund owned 77,779 shares of the company’s stock after selling 362 shares during the quarter. Welch & Forbes LLC’s holdings in Constellation Brands were worth $18,803,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Apollon Wealth Management LLC boosted its stake in Constellation Brands by 68.5% during the 4th quarter. Apollon Wealth Management LLC now owns 3,150 shares of the company’s stock worth $762,000 after acquiring an additional 1,281 shares during the last quarter. Lincoln National Corp boosted its position in shares of Constellation Brands by 9.2% during the fourth quarter. Lincoln National Corp now owns 2,802 shares of the company’s stock worth $678,000 after purchasing an additional 237 shares in the last quarter. Machina Capital S.A.S. bought a new position in shares of Constellation Brands during the fourth quarter worth $867,000. Wealthcare Advisory Partners LLC grew its holdings in shares of Constellation Brands by 70.4% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 3,631 shares of the company’s stock valued at $878,000 after buying an additional 1,500 shares during the period. Finally, Summit Trail Advisors LLC increased its position in shares of Constellation Brands by 5.7% in the 4th quarter. Summit Trail Advisors LLC now owns 2,152 shares of the company’s stock valued at $520,000 after buying an additional 116 shares in the last quarter. Institutional investors own 77.34% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on STZ. Roth Mkm reissued a “buy” rating and issued a $305.00 target price on shares of Constellation Brands in a research note on Friday, April 12th. Barclays boosted their price objective on Constellation Brands from $294.00 to $295.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Royal Bank of Canada raised their target price on shares of Constellation Brands from $295.00 to $308.00 and gave the stock an “outperform” rating in a report on Friday, April 12th. Evercore ISI upped their price target on shares of Constellation Brands from $300.00 to $310.00 and gave the company an “outperform” rating in a report on Friday, April 12th. Finally, Piper Sandler started coverage on shares of Constellation Brands in a report on Friday, March 22nd. They set an “overweight” rating and a $300.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $298.55.

Constellation Brands Stock Up 0.5 %

Shares of Constellation Brands stock traded up $1.23 on Monday, reaching $257.31. 752,198 shares of the company were exchanged, compared to its average volume of 1,231,642. Constellation Brands, Inc. has a one year low of $222.45 and a one year 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 company has a 50-day moving average of $261.04 and a 200 day moving average of $249.04. The company has a market capitalization of $47.08 billion, a price-to-earnings ratio of 27.43, a PEG ratio of 1.73 and a beta of 0.95.

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

Constellation Brands Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Friday, May 3rd will be given a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date is Thursday, May 2nd. This is an increase from Constellation Brands’s previous quarterly dividend of $0.89. Constellation Brands’s payout ratio is 43.07%.

Insider Buying and Selling at Constellation Brands

In other news, EVP James A. Jr. Sabia sold 15,781 shares of Constellation Brands 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Constellation Brands news, CEO William A. Newlands sold 4,013 shares of the stock in a transaction dated Friday, April 19th. The shares were sold at an average price of $263.25, for a total value of $1,056,422.25. Following the transaction, the chief executive officer now directly owns 5,395 shares of the company’s stock, valued at approximately $1,420,233.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP James A. Jr. Sabia sold 15,781 shares of the firm’s 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 sale, the executive vice president now owns 20,910 shares of the company’s stock, valued at $5,512,503.30. The disclosure for this sale can be found here. Corporate insiders own 16.19% 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.