Constellation Brands, Inc. (NYSE:STZ) Shares Sold by Ascent Wealth Partners LLC

by · The Cerbat Gem

Ascent Wealth Partners LLC decreased its position in shares of Constellation Brands, Inc. (NYSE:STZ – Free Report) by 4.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,423 shares of the company’s stock after selling 246 shares during the quarter. Ascent Wealth Partners LLC’s holdings in Constellation Brands were worth $1,397,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of STZ. Fidelis Capital Partners LLC acquired a new position in shares of Constellation Brands during the first quarter valued at $45,000. Advisory Services Network LLC raised its position in Constellation Brands by 10.1% in the first quarter. Advisory Services Network LLC now owns 11,514 shares of the company’s stock worth $3,129,000 after acquiring an additional 1,055 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its position in Constellation Brands by 13.6% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 21,168 shares of the company’s stock worth $5,753,000 after acquiring an additional 2,531 shares in the last quarter. Empowered Funds LLC raised its position in Constellation Brands by 71.0% in the first quarter. Empowered Funds LLC now owns 3,316 shares of the company’s stock worth $901,000 after acquiring an additional 1,377 shares in the last quarter. Finally, Insight Advisors LLC PA bought a new stake in Constellation Brands in the first quarter worth about $202,000. Institutional investors and hedge funds own 77.34% of the company’s stock.

Constellation Brands Stock Performance

STZ traded up $3.89 on Thursday, hitting $233.47. The company had a trading volume of 100,946 shares, compared to its average volume of 1,193,309. The company’s fifty day moving average price is $245.09 and its 200 day moving average price is $249.15. Constellation Brands, Inc. has a 1-year low of $224.76 and a 1-year high of $274.87. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.25 and a quick ratio of 0.53. The stock has a market cap of $42.39 billion, a price-to-earnings ratio of 74.32, a price-to-earnings-growth ratio of 1.64 and a beta of 0.90.

Constellation Brands (NYSE:STZ – Get Free Report) last issued its quarterly earnings results on Thursday, October 3rd. The company reported $4.32 EPS for the quarter, topping analysts’ consensus estimates of $4.08 by $0.24. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The company had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.95 billion. During the same period in the previous year, the company earned $3.70 earnings per share. The company’s quarterly revenue was up 2.9% compared to the same quarter last year. Equities analysts predict that Constellation Brands, Inc. will post 13.57 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th will be issued a dividend of $1.01 per share. The ex-dividend date is Tuesday, November 5th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.73%. Constellation Brands’s dividend payout ratio (DPR) is presently 130.74%.

Analyst Upgrades and Downgrades

STZ has been the topic of several research reports. Morgan Stanley dropped their price target on shares of Constellation Brands from $305.00 to $280.00 and set an “overweight” rating on the stock in a research report on Monday, August 26th. TD Cowen downgraded Constellation Brands from a “buy” rating to a “hold” rating and cut their price objective for the stock from $300.00 to $270.00 in a report on Tuesday, October 8th. Bank of America restated a “neutral” rating and set a $255.00 price objective (down previously from $300.00) on shares of Constellation Brands in a report on Monday, October 7th. Truist Financial cut their price objective on Constellation Brands from $265.00 to $255.00 and set a “hold” rating on the stock in a report on Friday, October 4th. Finally, BMO Capital Markets cut their price objective on Constellation Brands from $315.00 to $305.00 and set an “outperform” rating on the stock in a report on Tuesday, October 15th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $290.47.

View Our Latest Report on Constellation Brands

Insider Transactions at Constellation Brands

In related news, EVP Samuel J. Glaetzer sold 1,510 shares of the company’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $245.57, for a total value of $370,810.70. Following the completion of the transaction, the executive vice president now directly owns 4,970 shares in the company, valued at approximately $1,220,482.90. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Constellation Brands news, CEO William A. Newlands sold 7,426 shares of the company’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $237.24, for a total value of $1,761,744.24. Following the sale, the chief executive officer now directly owns 7,274 shares in the company, valued at $1,725,683.76. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Samuel J. Glaetzer sold 1,510 shares of the company’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $245.57, for a total value of $370,810.70. Following the completion of the sale, the executive vice president now owns 4,970 shares in the company, valued at $1,220,482.90. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 128,210 shares of company stock worth $31,040,994 over the last three months. 12.19% of the stock is currently owned by insiders.

About Constellation Brands

(Free Report)

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.

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