Constellation Brands, Inc. (NYSE:STZ) Shares Bought by Jupiter Wealth Management LLC

11 Nov 2024, 13:17 by Doug Wharley · The Cerbat Gem

Jupiter Wealth Management LLC lifted its position in shares of Constellation Brands, Inc. (NYSE:STZ – Free Report) by 51.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,408 shares of the company’s stock after purchasing an additional 1,158 shares during the period. Jupiter Wealth Management LLC’s holdings in Constellation Brands were worth $878,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. New Millennium Group LLC purchased a new position in Constellation Brands in the 2nd quarter valued at about $25,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Constellation Brands during the 2nd quarter worth approximately $29,000. Horizon Bancorp Inc. IN acquired a new position in shares of Constellation Brands in the 2nd quarter valued at approximately $32,000. LRI Investments LLC acquired a new position in shares of Constellation Brands in the 1st quarter valued at approximately $37,000. Finally, Opal Wealth Advisors LLC purchased a new position in shares of Constellation Brands during the 2nd quarter valued at approximately $36,000. 77.34% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Constellation Brands

In other news, CEO William A. Newlands sold 7,426 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $237.24, for a total value of $1,761,744.24. Following the completion of the sale, the chief executive officer now directly owns 7,274 shares of the company’s stock, valued at approximately $1,725,683.76. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Constellation Brands news, Director Robert Sands sold 119,274 shares of the business’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $242.37, for a total value of $28,908,439.38. Following the sale, the director now directly owns 431,729 shares in the company, valued at approximately $104,638,157.73. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William A. Newlands sold 7,426 shares of the company’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $237.24, for a total transaction of $1,761,744.24. Following the completion of the sale, the chief executive officer now directly owns 7,274 shares of the company’s stock, valued at $1,725,683.76. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 128,210 shares of company stock worth $31,040,994 in the last 90 days. Corporate insiders own 12.19% of the company’s stock.

Wall Street Analyst Weigh In

STZ has been the topic of several recent analyst reports. Truist Financial cut their price target on shares of Constellation Brands from $265.00 to $255.00 and set a “hold” rating on the stock in a report on Friday, October 4th. Barclays reduced their price target on shares of Constellation Brands from $309.00 to $300.00 and set an “overweight” rating on the stock in a research report on Monday, October 7th. BMO Capital Markets lowered their price objective on Constellation Brands from $315.00 to $305.00 and set an “outperform” rating for the company in a report on Tuesday, October 15th. Roth Mkm reaffirmed a “buy” rating and set a $298.00 target price on shares of Constellation Brands in a report on Friday, October 4th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $308.00 price target on shares of Constellation Brands in a report on Friday, October 4th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Constellation Brands has an average rating of “Moderate Buy” and an average target price of $290.47.

Get Our Latest Report on Constellation Brands

Constellation Brands Price Performance

NYSE STZ opened at $236.69 on Monday. The company has a 50-day moving average price of $244.87 and a two-hundred day moving average price of $248.68. Constellation Brands, Inc. has a 52 week low of $224.76 and a 52 week high of $274.87. The stock has a market cap of $42.97 billion, a price-to-earnings ratio of 75.97, a price-to-earnings-growth ratio of 1.62 and a beta of 0.90. The company has a current ratio of 1.25, a quick ratio of 0.53 and a debt-to-equity ratio of 1.31.

Constellation Brands (NYSE:STZ – Get Free Report) last posted its earnings results on Thursday, October 3rd. The company reported $4.32 EPS for the quarter, beating the consensus estimate of $4.08 by $0.24. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The firm had revenue of $2.92 billion for the quarter, compared to analysts’ expectations of $2.95 billion. During the same period last year, the firm earned $3.70 EPS. The firm’s revenue was up 2.9% compared to the same quarter last year. Analysts forecast that Constellation Brands, Inc. will post 13.57 EPS for the current year.

Constellation Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Tuesday, November 5th will be given a $1.01 dividend. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $4.04 dividend on an annualized basis and a yield of 1.71%. Constellation Brands’s dividend payout ratio is presently 130.74%.

About Constellation Brands

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