Constellation Brands, Inc. (NYSE:STZ) Shares Sold by Alliancebernstein L.P.

Alliancebernstein L.P. reduced its position in Constellation Brands, Inc. (NYSE:STZ - Free Report) by 13.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,269,160 shares of the company's stock after selling 350,175 shares during the quarter. Alliancebernstein L.P. owned 1.26% of Constellation Brands worth $501,484,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Allworth Financial LP lifted its position in shares of Constellation Brands by 0.8% during the fourth quarter. Allworth Financial LP now owns 7,357 shares of the company's stock worth $1,626,000 after purchasing an additional 59 shares during the last quarter. BSW Wealth Partners grew its position in shares of Constellation Brands by 4.2% during the 4th quarter. BSW Wealth Partners now owns 1,563 shares of the company's stock worth $345,000 after buying an additional 63 shares in the last quarter. Philip James Wealth Mangement LLC increased its stake in shares of Constellation Brands by 8.0% during the fourth quarter. Philip James Wealth Mangement LLC now owns 923 shares of the company's stock valued at $204,000 after buying an additional 68 shares during the period. Oak Asset Management LLC raised its stake in shares of Constellation Brands by 0.4% during the 4th quarter. Oak Asset Management LLC now owns 17,611 shares of the company's stock worth $3,892,000 after acquiring an additional 71 shares in the last quarter. Finally, Barden Capital Management Inc. boosted its stake in Constellation Brands by 1.3% in the fourth quarter. Barden Capital Management Inc. now owns 5,574 shares of the company's stock valued at $1,232,000 after acquiring an additional 72 shares in the last quarter. 77.34% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

Several analysts have recently commented on STZ shares. Argus lowered Constellation Brands from a "buy" rating to a "hold" rating in a report on Tuesday, January 14th. Truist Financial decreased 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. Morgan Stanley lowered Constellation Brands from an "overweight" rating to an "equal weight" rating and dropped their price target for the stock from $220.00 to $202.00 in a research note on Thursday, February 27th. Piper Sandler cut shares of Constellation Brands from an "overweight" rating to a "neutral" rating and lowered their target price for the stock from $245.00 to $200.00 in a research note on Monday, February 3rd. Finally, Wells Fargo & Company reduced their target price on Constellation Brands from $230.00 to $210.00 and set an "overweight" rating for the company in a research note on Wednesday. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Constellation Brands has a consensus rating of "Hold" and an average price target of $244.32.

Constellation Brands Trading Down 2.3 %

Shares of STZ traded down $4.18 during trading on Friday, reaching $177.31. 1,043,392 shares of the company traded hands, compared to its average volume of 2,764,644. The stock has a 50-day simple moving average of $177.33 and a 200-day simple moving average of $213.11. The company has a quick ratio of 0.46, a current ratio of 1.10 and a debt-to-equity ratio of 1.26. Constellation Brands, Inc. has a twelve month low of $160.46 and a twelve month high of $274.87. The stock has a market cap of $32.05 billion, a PE ratio of 47.67, a price-to-earnings-growth ratio of 1.52 and a beta of 1.75.

Constellation Brands (NYSE:STZ - Get Free Report) last issued its earnings results on Friday, January 10th. The company reported $3.25 earnings per share for the quarter, missing the consensus estimate of $3.33 by ($0.08). Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. The firm had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.53 billion. During the same period last year, the business earned $3.19 EPS. The firm's revenue was down .3% compared to the same quarter last year. On average, analysts anticipate that Constellation Brands, Inc. will post 13.5 earnings per share for the current year.

Constellation Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 7th were issued a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date was Friday, February 7th. Constellation Brands's dividend payout ratio (DPR) is 108.60%.

Insider Transactions at Constellation Brands

In related news, Director William T. Giles purchased 1,000 shares of the stock in a transaction that occurred on Friday, January 17th. The shares were purchased at an average price of $186.39 per share, with a total value of $186,390.00. Following the completion of the acquisition, the director now directly owns 1,463 shares in the company, valued at $272,688.57. This represents a 215.98 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 12.19% of the company's stock.

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.