Shelton Wealth Management LLC Decreases Stock Position in Constellation Brands, Inc. (NYSE:STZ)

Shelton Wealth Management LLC decreased its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 63.8% during the fourth quarter, Holdings Channel.com reports. The fund owned 1,051 shares of the company’s stock after selling 1,855 shares during the period. Shelton Wealth Management LLC’s holdings in Constellation Brands were worth $232,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of STZ. Versant Capital Management Inc increased its stake in Constellation Brands by 887.5% during the 4th quarter. Versant Capital Management Inc now owns 158 shares of the company’s stock valued at $35,000 after purchasing an additional 142 shares in the last quarter. Eastern Bank purchased a new stake in shares of Constellation Brands during the third quarter valued at $39,000. FSA Wealth Management LLC acquired a new position in shares of Constellation Brands in the 3rd quarter valued at $42,000. Truvestments Capital LLC purchased a new position in Constellation Brands in the 3rd quarter worth $60,000. Finally, Continuum Advisory LLC lifted its position in Constellation Brands by 68.0% during the 3rd quarter. Continuum Advisory LLC now owns 252 shares of the company’s stock worth $61,000 after acquiring an additional 102 shares during the period. Institutional investors and hedge funds own 77.34% of the company’s stock.

Constellation Brands Stock Performance

Shares of NYSE:STZ opened at $184.05 on Friday. The business’s 50 day moving average price is $227.76 and its 200-day moving average price is $239.46. Constellation Brands, Inc. has a 1 year low of $176.51 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 firm has a market capitalization of $33.42 billion, a PE ratio of 49.48, a P/E/G ratio of 1.28 and a beta of 0.91.

Constellation Brands (NYSE:STZ) last released its 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 business had revenue of $2.46 billion for the quarter, compared to analysts’ expectations of $2.53 billion. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. Constellation Brands’s quarterly revenue was down .3% compared to the same quarter last year. During the same period in the previous year, the company earned $3.19 EPS. As a group, equities research analysts expect that Constellation Brands, Inc. will post 13.72 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Friday, February 7th will be issued a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a dividend yield of 2.20%. The ex-dividend date is Friday, February 7th. Constellation Brands’s dividend payout ratio is currently 108.60%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on STZ. Roth Capital cut their price objective on Constellation Brands from $298.00 to $284.00 and set a “buy” rating on the stock in a report on Friday. Jefferies Financial Group reissued a “hold” rating and set a $201.00 price target (down from $310.00) on shares of Constellation Brands in a research report on Monday, January 13th. UBS Group dropped their price objective on shares of Constellation Brands from $265.00 to $223.00 and set a “buy” rating on the stock in a report on Friday. Truist Financial reduced their target price on shares of Constellation Brands from $255.00 to $190.00 and set a “hold” rating for the company in a report on Tuesday. Finally, StockNews.com lowered Constellation Brands from a “hold” rating to a “sell” rating in a research note on Friday. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $259.05.

Insider Activity at Constellation Brands

In other Constellation Brands news, CEO William A. Newlands sold 25,000 shares of the firm’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $243.58, for a total value of $6,089,500.00. Following the completion of the sale, the chief executive officer now directly owns 7,274 shares of the company’s stock, valued at $1,771,800.92. This trade represents a 77.46 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP James A. Jr. Sabia sold 36,086 shares of the business’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $242.99, for a total transaction of $8,768,537.14. Following the transaction, the executive vice president now directly owns 16,042 shares in the company, valued at approximately $3,898,045.58. The trade was a 69.23 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 69,172 shares of company stock valued at $16,778,841. 12.19% of the stock is currently owned by insiders.

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.