Boston Partners Trims Holdings in Constellation Brands, Inc. (NYSE:STZ)

Boston Partners reduced its holdings in Constellation Brands, Inc. (NYSE:STZ - Free Report) by 99.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,728 shares of the company's stock after selling 1,109,023 shares during the period. Boston Partners' holdings in Constellation Brands were worth $2,150,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in STZ. Van ECK Associates Corp boosted its holdings in Constellation Brands by 1,844.7% in the 4th quarter. Van ECK Associates Corp now owns 924,274 shares of the company's stock worth $204,265,000 after buying an additional 876,745 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Constellation Brands during the fourth quarter worth about $105,766,000. State Street Corp grew its stake in shares of Constellation Brands by 6.0% in the third quarter. State Street Corp now owns 7,144,428 shares of the company's stock valued at $1,841,048,000 after buying an additional 402,211 shares in the last quarter. Amundi grew its holdings in shares of Constellation Brands by 54.9% in the fourth quarter. Amundi now owns 453,180 shares of the company's stock valued at $99,373,000 after purchasing an additional 160,563 shares in the last quarter. Finally, OFI Invest Asset Management purchased a new stake in Constellation Brands during the 4th quarter worth about $31,656,000. 77.34% of the stock is currently owned by hedge funds and other institutional investors.

Constellation Brands Stock Performance

Shares of NYSE:STZ traded down $0.42 during trading on Tuesday, reaching $179.86. The company had a trading volume of 249,552 shares, compared to its average volume of 1,572,162. Constellation Brands, Inc. has a fifty-two week low of $160.46 and a fifty-two week high of $274.87. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.10 and a quick ratio of 0.46. The stock's fifty day moving average price is $177.22 and its 200 day moving average price is $216.39. The firm has a market capitalization of $32.51 billion, a price-to-earnings ratio of 48.35, a price-to-earnings-growth ratio of 1.52 and a beta of 0.90.

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Constellation Brands (NYSE:STZ - Get Free Report) last announced its quarterly earnings data on Friday, January 10th. The company reported $3.25 EPS for the quarter, missing analysts' consensus estimates 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 quarter in the previous year, the business earned $3.19 EPS. Constellation Brands's revenue for the quarter was down .3% on a year-over-year basis. As a group, equities research analysts predict that Constellation Brands, Inc. will post 13.5 EPS for the current year.

Constellation Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Investors 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 2.25%. The ex-dividend date of this dividend was Friday, February 7th. Constellation Brands's dividend payout ratio is presently 108.60%.

Analysts Set New Price Targets

STZ has been the subject of several recent analyst reports. Royal Bank of Canada decreased their price objective on shares of Constellation Brands from $293.00 to $289.00 and set an "outperform" rating for the company in a research report on Friday, March 7th. Wells Fargo & Company lowered their price objective on Constellation Brands from $295.00 to $275.00 and set an "overweight" rating for the company in a research report on Tuesday, January 7th. TD Cowen cut 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. 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 research note on Monday, February 3rd. Finally, Argus lowered shares of Constellation Brands from a "buy" rating to a "hold" rating in a research note on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $250.41.

Insiders Place Their Bets

In other news, Director William T. Giles acquired 1,000 shares of Constellation Brands stock in a transaction that occurred on Friday, January 17th. The stock was purchased at an average cost of $186.39 per share, with a total value of $186,390.00. Following the completion of the acquisition, the director now owns 1,463 shares in the company, valued at $272,688.57. This trade represents a 215.98 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 12.19% of the stock is currently owned by company insiders.

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.