Brandywine Global Investment Management LLC Reduces Position in Constellation Brands, Inc. (NYSE:STZ)

Brandywine Global Investment Management LLC lessened its stake in Constellation Brands, Inc. (NYSE:STZ - Free Report) by 7.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 23,180 shares of the company's stock after selling 1,950 shares during the period. Brandywine Global Investment Management LLC's holdings in Constellation Brands were worth $5,123,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in STZ. Mainstream Capital Management LLC acquired a new stake in Constellation Brands during the 4th quarter valued at approximately $25,000. SBI Securities Co. Ltd. acquired a new stake in shares of Constellation Brands during the fourth quarter worth $26,000. Compagnie Lombard Odier SCmA acquired a new stake in shares of Constellation Brands during the fourth quarter worth $27,000. Union Bancaire Privee UBP SA bought a new position in Constellation Brands during the fourth quarter worth $28,000. Finally, Versant Capital Management Inc lifted its holdings in Constellation Brands by 887.5% in the fourth 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 period. Institutional investors and hedge funds own 77.34% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on STZ shares. Jefferies Financial Group reissued a "hold" rating and issued a $201.00 price objective (down from $310.00) on shares of Constellation Brands in a research report on Monday, January 13th. Roth Capital dropped their price target on Constellation Brands from $298.00 to $284.00 and set a "buy" rating on the stock in a research note on Friday, January 17th. Barclays reduced their price objective 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. Truist Financial dropped their target price on shares of Constellation Brands from $255.00 to $190.00 and set a "hold" rating on the stock in a research report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. reissued a "neutral" rating and set a $203.00 target price (down from $262.00) on shares of Constellation Brands in a research note on Monday, January 13th. One investment 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's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $244.32.

Remove Ads

Constellation Brands Stock Down 0.9 %

NYSE:STZ traded down $1.59 on Thursday, hitting $181.14. The stock had a trading volume of 2,639,449 shares, compared to its average volume of 1,639,956. Constellation Brands, Inc. has a 1 year low of $160.46 and a 1 year high of $274.87. The firm's fifty day simple moving average is $177.33 and its two-hundred day simple moving average is $213.11. The stock has a market cap of $32.74 billion, a P/E ratio of 48.69, a price-to-earnings-growth ratio of 1.52 and a beta of 1.75. 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 issued its quarterly earnings results on Friday, January 10th. The company reported $3.25 EPS for the quarter, missing analysts' consensus estimates of $3.33 by ($0.08). The business had revenue of $2.46 billion for 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 business's revenue was down .3% compared to the same quarter last year. During the same quarter last year, the business posted $3.19 earnings per share. Analysts predict that Constellation Brands, Inc. will post 13.5 earnings per share for the current year.

Constellation Brands Announces Dividend

The business 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. The ex-dividend date was Friday, February 7th. This represents a $4.04 annualized dividend and a yield of 2.23%. Constellation Brands's payout ratio is currently 108.60%.

Insider Buying and Selling

In other news, Director William T. Giles acquired 1,000 shares of the company's stock in a transaction that occurred on Friday, January 17th. The shares were acquired at an average price of $186.39 per share, for a total transaction of $186,390.00. Following the completion of the purchase, the director now owns 1,463 shares in the company, valued at approximately $272,688.57. This trade represents a 215.98 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 12.19% of the stock is currently owned by corporate insiders.

Constellation Brands Company Profile

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.