Global Wealth Management Investment Advisory Inc. Has $1.99 Million Stock Position in Constellation Brands, Inc. (NYSE:STZ)

Global Wealth Management Investment Advisory Inc. boosted its position in Constellation Brands, Inc. (NYSE:STZ) by 36.8% during the 3rd quarter, Holdings Channel reports. The fund owned 7,724 shares of the company’s stock after buying an additional 2,076 shares during the period. Global Wealth Management Investment Advisory Inc.’s holdings in Constellation Brands were worth $1,990,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its position in Constellation Brands by 3.5% in the 1st quarter. Vanguard Group Inc. now owns 13,705,793 shares of the company’s stock valued at $3,724,686,000 after buying an additional 462,891 shares during the last quarter. Capital International Investors lifted its stake in Constellation Brands by 39.4% in the first quarter. Capital International Investors now owns 11,685,249 shares of the company’s stock valued at $3,175,583,000 after purchasing an additional 3,304,709 shares during the last quarter. Capital World Investors raised its stake in Constellation Brands by 8.7% in the 1st quarter. Capital World Investors now owns 9,040,669 shares of the company’s stock valued at $2,456,892,000 after acquiring an additional 723,549 shares during the period. Capital Research Global Investors boosted its position in Constellation Brands by 9.9% during the first quarter. Capital Research Global Investors now owns 2,469,997 shares of the company’s stock worth $671,246,000 after purchasing an additional 222,380 shares during the period. Finally, Legal & General Group Plc lifted its position in shares of Constellation Brands by 5.7% during the second quarter. Legal & General Group Plc now owns 1,335,976 shares of the company’s stock worth $343,717,000 after acquiring an additional 72,637 shares in the last quarter. Institutional investors own 77.34% of the company’s stock.

Constellation Brands Stock Down 0.0 %

NYSE:STZ traded down $0.08 during trading hours on Tuesday, reaching $238.65. The company’s stock had a trading volume of 58,232 shares, compared to its average volume of 1,184,075. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.53 and a current ratio of 1.25. The company has a market capitalization of $43.33 billion, a P/E ratio of 77.59, a price-to-earnings-growth ratio of 1.64 and a beta of 0.90. The stock has a 50 day moving average price of $245.36 and a two-hundred day moving average price of $249.45. Constellation Brands, Inc. has a 12 month low of $231.70 and a 12 month high of $274.87.

Constellation Brands (NYSE:STZ) last posted its earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share (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 company had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.95 billion. During the same quarter in the previous year, the firm earned $3.70 earnings per share. The firm’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 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th will be issued a $1.01 dividend. This represents a $4.04 annualized dividend and a yield of 1.69%. The ex-dividend date of this dividend is Tuesday, November 5th. Constellation Brands’s dividend payout ratio is currently 130.74%.

Wall Street Analysts Forecast Growth

STZ has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lowered their target price on shares of Constellation Brands from $307.00 to $293.00 and set an “overweight” rating on the stock in a research note on Friday, October 4th. UBS Group decreased their target price on Constellation Brands from $320.00 to $295.00 and set a “buy” rating for the company in a research report on Monday, September 9th. Bank of America restated a “neutral” rating and issued a $255.00 price target (down previously from $300.00) on shares of Constellation Brands in a research note on Monday, October 7th. Truist Financial cut their target price on Constellation Brands from $265.00 to $255.00 and set a “hold” rating on the stock in a research note on Friday, October 4th. Finally, BMO Capital Markets decreased their target price on shares of Constellation Brands from $315.00 to $305.00 and set an “outperform” rating for the company in a research note on Tuesday, October 15th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $290.47.

Insider Activity

In related news, EVP Samuel J. Glaetzer sold 1,510 shares of the company’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $245.57, for a total transaction of $370,810.70. Following the transaction, the executive vice president now directly owns 4,970 shares of the company’s stock, valued at $1,220,482.90. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, CFO Garth Hankinson sold 13,583 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $240.00, for a total transaction of $3,259,920.00. Following the completion of the transaction, the chief financial officer now directly owns 11,702 shares in the company, valued at $2,808,480. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Samuel J. Glaetzer sold 1,510 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 4,970 shares of the company’s stock, valued at approximately $1,220,482.90. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 141,793 shares of company stock worth $34,300,914. Insiders own 12.19% of the company’s stock.

About Constellation Brands

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.