Pitti Group Wealth Management LLC Has $209,000 Stock Holdings in Constellation Brands, Inc. (NYSE:STZ)

Pitti Group Wealth Management LLC raised its position in Constellation Brands, Inc. (NYSE:STZ) by 8.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 865 shares of the company’s stock after buying an additional 66 shares during the quarter. Pitti Group Wealth Management LLC’s holdings in Constellation Brands were worth $209,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. BKM Wealth Management LLC bought a new stake in shares of Constellation Brands during the 4th quarter valued at $28,000. Asset Dedication LLC lifted its position in shares of Constellation Brands by 3,833.3% during the 3rd quarter. Asset Dedication LLC now owns 118 shares of the company’s stock valued at $30,000 after acquiring an additional 115 shares during the period. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Constellation Brands during the 4th quarter worth $37,000. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Constellation Brands during the 3rd quarter worth $41,000. Finally, Exchange Traded Concepts LLC bought a new stake in shares of Constellation Brands during the 4th quarter worth $45,000. 77.34% of the stock is currently owned by institutional investors.

Constellation Brands Stock Performance

Shares of NYSE STZ traded down $1.67 during trading on Friday, reaching $260.04. 700,014 shares of the stock traded hands, compared to its average volume of 1,410,273. Constellation Brands, Inc. has a 52-week low of $221.81 and a 52-week high of $274.87. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.19 and a quick ratio of 0.53. The company has a 50-day moving average of $259.80 and a 200-day moving average of $248.01. The stock has a market capitalization of $47.54 billion, a P/E ratio of 27.72, a price-to-earnings-growth ratio of 1.76 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings results on Thursday, April 11th. The company reported $2.26 EPS for the quarter, beating analysts’ consensus estimates of $2.10 by $0.16. Constellation Brands had a return on equity of 23.06% and a net margin of 16.13%. The firm had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.09 billion. During the same quarter in the prior year, the firm earned $1.98 EPS. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. Analysts forecast that Constellation Brands, Inc. will post 13.51 EPS for the current fiscal year.

Constellation Brands Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Friday, May 3rd will be paid a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.55%. This is a positive change from Constellation Brands’s previous quarterly dividend of $0.89. The ex-dividend date is Thursday, May 2nd. Constellation Brands’s payout ratio is presently 43.07%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on STZ shares. Jefferies Financial Group upped their price objective on Constellation Brands from $292.00 to $314.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Evercore ISI increased their target price on Constellation Brands from $300.00 to $310.00 and gave the company an “outperform” rating in a research report on Friday, April 12th. Roth Mkm reiterated a “buy” rating and issued a $305.00 target price on shares of Constellation Brands in a research report on Friday, April 12th. TheStreet downgraded Constellation Brands from a “b” rating to a “c+” rating in a research report on Friday, January 5th. Finally, Wedbush reiterated an “outperform” rating and issued a $300.00 target price on shares of Constellation Brands in a research report on Wednesday, April 10th. Three research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, Constellation Brands has a consensus rating of “Moderate Buy” and an average target price of $298.55.

Insider Activity at Constellation Brands

In related news, EVP James A. Jr. Sabia sold 15,781 shares of the business’s stock in a transaction on Friday, April 12th. The stock was sold at an average price of $263.63, for a total transaction of $4,160,345.03. Following the sale, the executive vice president now directly owns 20,910 shares in the company, valued at approximately $5,512,503.30. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 stock was sold at an average price of $263.63, for a total value of $4,160,345.03. Following the transaction, the executive vice president now directly owns 20,910 shares in the company, valued at approximately $5,512,503.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William A. Newlands sold 4,013 shares of the company’s stock in a transaction dated Friday, April 19th. The stock was sold at an average price of $263.25, for a total value of $1,056,422.25. Following the completion of the transaction, the chief executive officer now owns 5,395 shares in the company, valued at $1,420,233.75. The disclosure for this sale can be found here. 16.19% of the stock is currently owned by corporate insiders.

Constellation Brands Company 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 Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Victoria, Vicky Chamoy, and Pacifico brands.