Essex Financial Services Inc. Grows Stock Holdings in Constellation Brands, Inc. (NYSE:STZ)

Essex Financial Services Inc. grew its position in Constellation Brands, Inc. (NYSE:STZ) by 2.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,318 shares of the company’s stock after buying an additional 93 shares during the quarter. Essex Financial Services Inc.’s holdings in Constellation Brands were worth $954,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp raised its stake in shares of Constellation Brands by 6.0% in the third quarter. State Street Corp now owns 7,144,428 shares of the company’s stock valued at $1,841,048,000 after acquiring an additional 402,211 shares in the last quarter. Janus Henderson Group PLC increased its holdings in Constellation Brands by 1.2% during the 3rd quarter. Janus Henderson Group PLC now owns 1,853,081 shares of the company’s stock worth $477,515,000 after purchasing an additional 21,454 shares during the period. International Assets Investment Management LLC raised its position in Constellation Brands by 23,184.7% in the 3rd quarter. International Assets Investment Management LLC now owns 499,689 shares of the company’s stock valued at $128,765,000 after purchasing an additional 497,543 shares in the last quarter. National Pension Service boosted its stake in shares of Constellation Brands by 13.6% in the 3rd quarter. National Pension Service now owns 381,755 shares of the company’s stock valued at $98,374,000 after buying an additional 45,707 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its position in shares of Constellation Brands by 66.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 369,966 shares of the company’s stock worth $81,762,000 after buying an additional 147,457 shares in the last quarter. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Constellation Brands Stock Performance

Shares of STZ opened at $164.59 on Wednesday. The stock has a market capitalization of $29.75 billion, a P/E ratio of 44.24, a P/E/G ratio of 1.51 and a beta of 0.90. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.46 and a current ratio of 1.10. Constellation Brands, Inc. has a 1 year low of $161.00 and a 1 year high of $274.87. The company’s fifty day moving average is $207.40 and its two-hundred day moving average is $230.56.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings results on Friday, January 10th. The company reported $3.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.08). The firm had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.53 billion. Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The company’s revenue was down .3% compared to the same quarter last year. During the same quarter last year, the firm earned $3.19 earnings per share. On average, sell-side analysts predict that Constellation Brands, Inc. will post 13.5 earnings per share for the current year.

Constellation Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Friday, February 7th will be issued a $1.01 dividend. The ex-dividend date is Friday, February 7th. This represents a $4.04 annualized dividend and a dividend yield of 2.45%. Constellation Brands’s dividend payout ratio is currently 108.60%.

Analyst Ratings Changes

Several analysts recently weighed in on STZ shares. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $203.00 target price (down previously from $262.00) on shares of Constellation Brands in a report on Monday, January 13th. Morgan Stanley decreased their price objective on shares of Constellation Brands from $280.00 to $220.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. Piper Sandler lowered Constellation Brands from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $245.00 to $200.00 in a report on Monday, February 3rd. TD Cowen cut their price target on Constellation Brands from $270.00 to $260.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Finally, Evercore ISI lowered their price objective on Constellation Brands from $300.00 to $250.00 and set an “outperform” rating for the company in a research report on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, Constellation Brands has an average rating of “Moderate Buy” and an average price target of $254.29.

Insider Buying and Selling

In other news, major shareholder Wildstar Partners Llc sold 660 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $241.00, for a total transaction of $159,060.00. Following the sale, the insider now owns 1,736,884 shares of the company’s stock, valued at $418,589,044. The trade was a 0.04 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William A. Newlands sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $243.58, for a total value of $6,089,500.00. Following the completion of the transaction, the chief executive officer now directly owns 7,274 shares of the company’s stock, valued at $1,771,800.92. The trade was a 77.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 61,746 shares of company stock valued at $15,017,097 over the last quarter. Company 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.