Axxcess Wealth Management LLC Grows Stock Holdings in Constellation Brands, Inc. (NYSE:STZ)

Axxcess Wealth Management LLC lifted its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 169.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,429 shares of the company’s stock after purchasing an additional 2,784 shares during the period. Axxcess Wealth Management LLC’s holdings in Constellation Brands were worth $1,071,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Darsana Capital Partners LP raised its stake in Constellation Brands by 288.9% during the 3rd quarter. Darsana Capital Partners LP now owns 875,000 shares of the company’s stock worth $219,914,000 after acquiring an additional 650,000 shares in the last quarter. International Assets Investment Management LLC increased its stake in Constellation Brands by 24,922.5% in the fourth quarter. International Assets Investment Management LLC now owns 567,010 shares of the company’s stock valued at $137,075,000 after purchasing an additional 564,744 shares during the period. Phoenix Holdings Ltd. increased its stake in Constellation Brands by 38.3% in the third quarter. Phoenix Holdings Ltd. now owns 551,447 shares of the company’s stock valued at $138,608,000 after purchasing an additional 152,799 shares during the period. Trexquant Investment LP acquired a new position in Constellation Brands in the third quarter valued at $30,640,000. Finally, HighTower Advisors LLC increased its stake in Constellation Brands by 70.0% in the third quarter. HighTower Advisors LLC now owns 218,190 shares of the company’s stock valued at $54,983,000 after purchasing an additional 89,822 shares during the period. 77.34% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Constellation Brands

In other Constellation Brands news, EVP James A. Jr. Sabia sold 15,781 shares of the company’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $263.63, for a total value 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Constellation Brands news, CEO William A. Newlands sold 4,013 shares of the company’s 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 sale, the chief executive officer now owns 5,395 shares of the company’s stock, valued at $1,420,233.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP James A. Jr. Sabia sold 15,781 shares of the company’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $263.63, for a total transaction of $4,160,345.03. Following the completion of the sale, the executive vice president now directly owns 20,910 shares in the company, valued at approximately $5,512,503.30. The disclosure for this sale can be found here. Insiders own 16.19% of the company’s stock.

Analyst Ratings Changes

STZ has been the topic of a number of recent research reports. HSBC lifted their price objective on shares of Constellation Brands from $290.00 to $300.00 and gave the company a “buy” rating in a research note on Friday, April 12th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Constellation Brands from $256.00 to $262.00 and gave the company a “hold” rating in a research note on Wednesday, April 10th. Piper Sandler initiated coverage on shares of Constellation Brands in a research note on Friday, March 22nd. They issued an “overweight” rating and a $300.00 price objective on the stock. Royal Bank of Canada lifted their price objective on shares of Constellation Brands from $295.00 to $308.00 and gave the company an “outperform” rating in a research note on Friday, April 12th. Finally, Bank of America lifted their price objective on shares of Constellation Brands from $290.00 to $300.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Three analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $298.55.

Constellation Brands Stock Up 0.8 %

STZ stock opened at $256.08 on Monday. The company has a market cap of $46.86 billion, a P/E ratio of 27.30, a P/E/G ratio of 1.73 and a beta of 0.95. Constellation Brands, Inc. has a 52 week low of $221.81 and a 52 week high of $274.87. The company’s 50-day moving average price is $260.83 and its 200 day moving average price is $248.87. The company has a current ratio of 1.19, a quick ratio of 0.53 and a debt-to-equity ratio of 1.06.

Constellation Brands (NYSE:STZ) last released its quarterly earnings data on Thursday, April 11th. The company reported $2.26 EPS for the quarter, topping analysts’ consensus estimates of $2.10 by $0.16. The firm had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.09 billion. Constellation Brands had a net margin of 16.13% and a return on equity of 23.06%. The firm’s revenue was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.98 earnings per share. On average, research analysts expect that Constellation Brands, Inc. will post 13.51 earnings per share for the current fiscal 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 issued a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 1.58%. The ex-dividend date of this dividend is Thursday, May 2nd. This is an increase from Constellation Brands’s previous quarterly dividend of $0.89. Constellation Brands’s dividend payout ratio is 43.07%.

Constellation Brands 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.