Daymark Wealth Partners LLC Sells 3,778 Shares of Constellation Brands, Inc. (NYSE:STZ)

Daymark Wealth Partners LLC lessened its position in Constellation Brands, Inc. (NYSE:STZ) by 71.6% during the 1st quarter, HoldingsChannel.com reports. The fund owned 1,497 shares of the company’s stock after selling 3,778 shares during the period. Daymark Wealth Partners LLC’s holdings in Constellation Brands were worth $275,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently bought and sold shares of STZ. Mainstream Capital Management LLC bought a new position in Constellation Brands in the 4th quarter worth $25,000. SBI Securities Co. Ltd. bought a new position in shares of Constellation Brands during the 4th quarter worth about $26,000. Compagnie Lombard Odier SCmA bought a new position in shares of Constellation Brands during the 4th quarter worth about $27,000. Union Bancaire Privee UBP SA bought a new position in shares of Constellation Brands during the 4th quarter worth about $28,000. Finally, Minot DeBlois Advisors LLC bought a new position in shares of Constellation Brands during the 4th quarter worth about $29,000. Institutional investors own 77.34% of the company’s stock.

Insiders Place Their Bets

In other Constellation Brands news, EVP Samuel J. Glaetzer sold 3,150 shares of the business’s stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $188.54, for a total value of $593,901.00. Following the completion of the transaction, the executive vice president now directly owns 3,126 shares of the company’s stock, valued at approximately $589,376.04. The trade was a 50.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 12.19% of the company’s stock.

Wall Street Analysts Forecast Growth

STZ has been the topic of several research reports. The Goldman Sachs Group dropped their price objective on shares of Constellation Brands from $260.00 to $225.00 and set a “buy” rating on the stock in a report on Friday, April 11th. Piper Sandler boosted their price objective on shares of Constellation Brands from $165.00 to $170.00 and gave the stock a “neutral” rating in a report on Friday, June 6th. CJS Securities dropped their price objective on shares of Constellation Brands from $196.00 to $194.00 in a report on Monday, May 19th. Royal Bank of Canada dropped their price objective on shares of Constellation Brands from $289.00 to $233.00 and set an “outperform” rating on the stock in a report on Monday, April 14th. Finally, Bernstein Bank dropped their price objective on shares of Constellation Brands from $260.00 to $225.00 and set an “outperform” rating on the stock in a report on Thursday, April 10th. Eleven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $220.00.

Constellation Brands Price Performance

NYSE:STZ opened at $168.98 on Thursday. Constellation Brands, Inc. has a 12 month low of $160.46 and a 12 month high of $265.70. The firm has a market cap of $30.08 billion, a PE ratio of 45.43, a price-to-earnings-growth ratio of 1.52 and a beta of 1.75. The company has a quick ratio of 0.46, a current ratio of 1.10 and a debt-to-equity ratio of 1.26. The company’s 50-day moving average price is $183.39 and its two-hundred day moving average price is $192.27.

Constellation Brands (NYSE:STZ) last announced its earnings results on Wednesday, April 9th. The company reported $2.63 earnings per share for the quarter, topping analysts’ consensus estimates of $2.28 by $0.35. Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. The company had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.14 billion. During the same period in the previous year, the firm posted $2.26 earnings per share. The company’s revenue was up 1.2% on a year-over-year basis. On average, equities analysts anticipate that Constellation Brands, Inc. will post 13.5 EPS for the current fiscal year.

Constellation Brands Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Tuesday, April 29th were paid a $1.02 dividend. The ex-dividend date of this dividend was Tuesday, April 29th. This is an increase from Constellation Brands’s previous quarterly dividend of $1.01. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.41%. Constellation Brands’s payout ratio is currently -800.00%.

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.