Allstate Corp Invests $1.10 Million in Constellation Brands, Inc. (NYSE:STZ)

Allstate Corp bought a new position in Constellation Brands, Inc. (NYSE:STZ - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 4,985 shares of the company's stock, valued at approximately $1,102,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Mainstream Capital Management LLC bought a new position in Constellation Brands during the fourth quarter worth about $25,000. SBI Securities Co. Ltd. acquired a new stake in shares of Constellation Brands during the fourth quarter worth about $26,000. Compagnie Lombard Odier SCmA bought a new position in shares of Constellation Brands during the 4th quarter valued at about $27,000. Union Bancaire Privee UBP SA acquired a new position in shares of Constellation Brands in the 4th quarter valued at approximately $28,000. Finally, Versant Capital Management Inc increased its stake in Constellation Brands by 887.5% during the 4th quarter. Versant Capital Management Inc now owns 158 shares of the company's stock worth $35,000 after purchasing an additional 142 shares in the last quarter. 77.34% of the stock is owned by institutional investors.

Constellation Brands Stock Performance

Shares of STZ traded down $0.74 during trading hours on Thursday, hitting $181.99. The company had a trading volume of 1,578,019 shares, compared to its average volume of 1,632,498. The business has a fifty day moving average of $177.29 and a 200-day moving average of $213.33. 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 firm has a market cap of $32.89 billion, a price-to-earnings ratio of 48.98, a PEG ratio of 1.52 and a beta of 1.75. Constellation Brands, Inc. has a 12 month low of $160.46 and a 12 month high of $274.87.

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

Constellation Brands Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 21st. Stockholders 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 dividend yield of 2.22%. The ex-dividend date of this dividend was Friday, February 7th. Constellation Brands's dividend payout ratio is currently 108.60%.

Insider Activity

In other Constellation Brands news, Director William T. Giles acquired 1,000 shares of the company's stock in a transaction on Friday, January 17th. The stock was acquired at an average price of $186.39 per share, for a total transaction of $186,390.00. Following the purchase, the director now directly 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 acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 12.19% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on STZ shares. Piper Sandler cut shares of Constellation Brands from an "overweight" rating to a "neutral" rating and reduced their price target for the company from $245.00 to $200.00 in a report on Monday, February 3rd. Needham & Company LLC lowered their target price on Constellation Brands from $240.00 to $215.00 and set a "buy" rating for the company in a report on Thursday, March 27th. Royal Bank of Canada dropped their price target on Constellation Brands from $293.00 to $289.00 and set an "outperform" rating on the stock in a research note on Friday, March 7th. Argus cut Constellation Brands from a "buy" rating to a "hold" rating in a research report on Tuesday, January 14th. Finally, TD Cowen dropped their target price on Constellation Brands from $270.00 to $260.00 and set a "hold" rating on the stock in a research report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, Constellation Brands has an average rating of "Hold" and a consensus target price of $244.32.

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.