Waterfront Wealth Inc. Has $1.18 Million Holdings in Constellation Brands, Inc. (NYSE:STZ)

Waterfront Wealth Inc. increased its position in Constellation Brands, Inc. (NYSE:STZ) by 2.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,328 shares of the company’s stock after purchasing an additional 126 shares during the period. Waterfront Wealth Inc.’s holdings in Constellation Brands were worth $1,178,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Blue Trust Inc. increased its holdings in Constellation Brands by 181.3% in the 3rd quarter. Blue Trust Inc. now owns 1,021 shares of the company’s stock worth $263,000 after acquiring an additional 658 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in Constellation Brands by 17.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 12,361 shares of the company’s stock worth $3,185,000 after buying an additional 1,833 shares during the last quarter. Sequoia Financial Advisors LLC lifted its position in Constellation Brands by 13.1% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 4,961 shares of the company’s stock worth $1,278,000 after buying an additional 573 shares during the last quarter. Eastern Bank purchased a new position in Constellation Brands in the 3rd quarter worth approximately $39,000. Finally, Courier Capital LLC increased its stake in Constellation Brands by 7.1% in the 3rd quarter. Courier Capital LLC now owns 894 shares of the company’s stock worth $230,000 after purchasing an additional 59 shares during the period. 77.34% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on STZ. Barclays reduced their target price on Constellation Brands from $282.00 to $214.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 14th. TD Cowen lowered their price target on Constellation Brands from $270.00 to $260.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Argus lowered shares of Constellation Brands from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. UBS Group lowered their price objective on Constellation Brands from $265.00 to $223.00 and set a “buy” rating on the stock in a research report on Friday, January 17th. Finally, Morgan Stanley dropped their price objective on Constellation Brands from $280.00 to $220.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. Ten research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $254.29.

Insider Buying and Selling at Constellation Brands

In other Constellation Brands news, Director William T. Giles bought 1,000 shares of Constellation Brands stock in a transaction that occurred on Friday, January 17th. The shares were acquired at an average price of $186.39 per share, for a total transaction of $186,390.00. Following the acquisition, the director now owns 1,463 shares of the company’s stock, valued at $272,688.57. The trade was a 215.98 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 12.19% of the stock is owned by company insiders.

Constellation Brands Stock Performance

NYSE STZ opened at $172.25 on Friday. Constellation Brands, Inc. has a 1 year low of $160.46 and a 1 year high of $274.87. The company has a market capitalization of $31.13 billion, a PE ratio of 46.30, a P/E/G ratio of 1.49 and a beta of 0.90. The company has a fifty day moving average of $195.56 and a two-hundred day moving average of $226.30. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.10 and a quick ratio of 0.46.

Constellation Brands (NYSE:STZ) last issued 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). Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. The company had revenue of $2.46 billion during the quarter, compared to analysts’ expectations of $2.53 billion. During the same period last year, the business posted $3.19 earnings per share. The company’s quarterly revenue was down .3% on a year-over-year basis. As a group, analysts expect that Constellation Brands, Inc. will post 13.5 earnings per share for the current year.

Constellation Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Friday, February 7th will be given a dividend of $1.01 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $4.04 dividend on an annualized basis and a yield of 2.35%. Constellation Brands’s dividend payout ratio (DPR) is currently 108.60%.

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.