Capital International Investors Sells 6,044,583 Shares of Constellation Brands, Inc. (NYSE:STZ)

Capital International Investors lessened its position in Constellation Brands, Inc. (NYSE:STZ - Free Report) by 59.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,131,092 shares of the company's stock after selling 6,044,583 shares during the period. Capital International Investors owned approximately 2.29% of Constellation Brands worth $912,930,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. World Investment Advisors LLC grew its position in Constellation Brands by 36.6% in the third quarter. World Investment Advisors LLC now owns 2,550 shares of the company's stock worth $657,000 after buying an additional 683 shares during the last quarter. Arvest Bank Trust Division acquired a new position in shares of Constellation Brands in the 3rd quarter worth $243,000. Wilmington Savings Fund Society FSB raised its position in shares of Constellation Brands by 260.7% during the third quarter. Wilmington Savings Fund Society FSB now owns 20,495 shares of the company's stock worth $5,281,000 after purchasing an additional 14,813 shares during the period. Oddo BHF Asset Management Sas purchased a new stake in shares of Constellation Brands during the third quarter valued at $223,000. Finally, Copley Financial Group Inc. acquired a new position in shares of Constellation Brands in the 3rd quarter valued at $455,000. Institutional investors and hedge funds own 77.34% of the company's stock.

Constellation Brands Stock Down 0.7 %

Shares of STZ traded down $1.26 during trading hours on Thursday, hitting $186.02. 726,584 shares of the company were exchanged, compared to its average volume of 2,780,290. The firm's 50 day moving average is $180.06 and its 200-day moving average is $205.62. 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, Inc. has a 52 week low of $160.46 and a 52 week high of $265.70. The company has a market cap of $33.62 billion, a PE ratio of 49.96, a PEG ratio of 1.52 and a beta of 1.75.

Constellation Brands (NYSE:STZ - Get Free Report) last announced its quarterly earnings results on Wednesday, April 9th. The company reported $2.63 EPS for the quarter, beating the consensus estimate of $2.28 by $0.35. Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The company had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.14 billion. During the same quarter last year, the company posted $2.26 earnings per share. The company's revenue for the quarter was up 1.2% compared to the same quarter last year. On average, equities research analysts forecast that Constellation Brands, Inc. will post 13.5 EPS for the current fiscal year.

Constellation Brands Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 29th will be issued a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a yield of 2.19%. This is a boost from Constellation Brands's previous quarterly dividend of $1.01. The ex-dividend date is Tuesday, April 29th. Constellation Brands's dividend payout ratio is -800.00%.

Analysts Set New Price Targets

Several analysts have issued reports on STZ shares. JPMorgan Chase & Co. cut their price objective on Constellation Brands from $203.00 to $194.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Truist Financial reduced their price target on shares of Constellation Brands from $255.00 to $190.00 and set a "hold" rating for the company in a research report on Tuesday, January 14th. Morgan Stanley decreased their price objective on shares of Constellation Brands from $202.00 to $195.00 and set an "equal weight" rating for the company in a research note on Friday, April 11th. Piper Sandler downgraded shares of Constellation Brands from an "overweight" rating to a "neutral" rating and cut their target price for the company from $245.00 to $200.00 in a research note on Monday, February 3rd. Finally, TD Cowen decreased their target price on Constellation Brands from $270.00 to $260.00 and set a "hold" rating for the company in a research report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $224.42.

Constellation Brands 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.