Constellation Brands, Inc. (NYSE:STZ) Stock Position Trimmed by Bedell Frazier Investment Counselling LLC

Bedell Frazier Investment Counselling LLC lowered its position in shares of Constellation Brands, Inc. (NYSE:STZ - Free Report) by 13.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 20,560 shares of the company's stock after selling 3,313 shares during the quarter. Constellation Brands makes up approximately 1.1% of Bedell Frazier Investment Counselling LLC's holdings, making the stock its 29th biggest holding. Bedell Frazier Investment Counselling LLC's holdings in Constellation Brands were worth $4,544,000 at the end of the most recent quarter.

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

Insider Buying and Selling

In other Constellation Brands news, Director William T. Giles bought 1,000 shares of the business's stock in a transaction 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 of the company's stock, valued at approximately $272,688.57. The trade was a 215.98 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 12.19% of the stock is currently owned by company insiders.

Remove Ads

Constellation Brands Stock Down 0.7 %

STZ stock traded down $1.31 during midday trading on Thursday, hitting $181.43. 1,928,128 shares of the company's stock were exchanged, compared to its average volume of 1,634,527. The firm has a 50 day moving average price of $177.29 and a 200-day moving average price of $213.33. Constellation Brands, Inc. has a 12-month low of $160.46 and a 12-month high of $274.87. The stock has a market capitalization of $32.79 billion, a price-to-earnings ratio of 48.76, a price-to-earnings-growth ratio of 1.52 and a beta of 1.75. The company has a current ratio of 1.10, a quick ratio of 0.46 and a debt-to-equity ratio of 1.26.

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

Constellation Brands Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 7th were given a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a dividend yield of 2.23%. The ex-dividend date of this dividend was Friday, February 7th. Constellation Brands's dividend payout ratio is currently 108.60%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on STZ. Citigroup downgraded shares of Constellation Brands from a "buy" rating to a "neutral" rating and cut their price target for the stock from $260.00 to $200.00 in a research note on Thursday, March 20th. Truist Financial reduced their target price on Constellation Brands from $255.00 to $190.00 and set a "hold" rating on the stock in a report on Tuesday, January 14th. JPMorgan Chase & Co. restated a "neutral" rating and issued a $203.00 price objective (down from $262.00) on shares of Constellation Brands in a report on Monday, January 13th. Piper Sandler cut Constellation Brands from an "overweight" rating to a "neutral" rating and decreased their target price for the stock from $245.00 to $200.00 in a report on Monday, February 3rd. Finally, Barclays dropped their target price on shares of Constellation Brands from $205.00 to $203.00 and set an "overweight" rating for the company in a research report on Thursday, March 27th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Constellation Brands presently has a consensus 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.