Perigon Wealth Management LLC Sells 1,812 Shares of Constellation Brands, Inc. (NYSE:STZ)

Perigon Wealth Management LLC cut its position in Constellation Brands, Inc. (NYSE:STZ - Free Report) by 20.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,185 shares of the company's stock after selling 1,812 shares during the quarter. Perigon Wealth Management LLC's holdings in Constellation Brands were worth $1,588,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Union Bancaire Privee UBP SA bought a new position in shares of Constellation Brands during the 4th quarter worth approximately $28,000. Eastern Bank bought a new stake in shares of Constellation Brands during the 3rd quarter worth about $39,000. Versant Capital Management Inc grew its stake in Constellation Brands by 887.5% in the 4th quarter. Versant Capital Management Inc now owns 158 shares of the company's stock valued at $35,000 after buying an additional 142 shares during the last quarter. FSA Wealth Management LLC bought a new position in Constellation Brands in the 3rd quarter valued at about $42,000. Finally, Truvestments Capital LLC bought a new stake in shares of Constellation Brands during the third quarter worth approximately $60,000. 77.34% of the stock is owned by institutional investors.

Constellation Brands Stock Up 1.1 %

Shares of NYSE STZ traded up $2.09 during trading on Thursday, hitting $184.32. 2,034,432 shares of the company traded hands, compared to its average volume of 2,883,643. Constellation Brands, Inc. has a fifty-two week low of $176.51 and a fifty-two week high of $274.87. The firm has a market capitalization of $33.31 billion, a price-to-earnings ratio of 49.55, a P/E/G ratio of 1.58 and a beta of 0.91. The business's fifty day moving average is $217.72 and its 200 day moving average is $234.79. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.46 and a current ratio of 1.10.

Constellation Brands (NYSE:STZ - Get Free Report) last posted its earnings results on Friday, January 10th. The company reported $3.25 earnings per share for the quarter, missing analysts' consensus estimates of $3.33 by ($0.08). The business had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.53 billion. Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The company's revenue was down .3% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.19 EPS. Equities research analysts predict that Constellation Brands, Inc. will post 13.52 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Friday, February 7th will be paid a $1.01 dividend. The ex-dividend date is Friday, February 7th. This represents a $4.04 annualized dividend and a yield of 2.19%. Constellation Brands's payout ratio is 108.60%.

Insider Transactions at Constellation Brands

In other news, Director William T. Giles acquired 1,000 shares of Constellation Brands stock in a transaction dated Friday, January 17th. The shares were purchased at an average cost of $186.39 per share, for a total transaction of $186,390.00. Following the transaction, the director now owns 1,463 shares of the company's stock, valued at $272,688.57. This trade represents a 215.98 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Wildstar Partners Llc sold 660 shares of Constellation Brands stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $241.00, for a total transaction of $159,060.00. Following the transaction, the insider now directly owns 1,736,884 shares in the company, valued at $418,589,044. This trade represents a 0.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 61,746 shares of company stock worth $15,017,097. 12.19% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently weighed in on STZ. TD Cowen dropped their price target on Constellation Brands from $270.00 to $260.00 and set a "hold" rating for the company in a report on Wednesday, January 8th. Bank of America reissued a "neutral" rating and issued a $255.00 target price (down previously from $300.00) on shares of Constellation Brands in a research report on Monday, October 7th. Jefferies Financial Group reaffirmed 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. Truist Financial cut their price target on Constellation Brands from $255.00 to $190.00 and set a "hold" rating for the company in a research note on Tuesday, January 14th. Finally, UBS Group decreased their target price on shares of Constellation Brands from $265.00 to $223.00 and set a "buy" rating on the stock in a report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $257.14.

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.