Chevy Chase Trust Holdings LLC cut its stake in shares of Constellation Brands, Inc. (NYSE:STZ - Free Report) by 2.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 83,503 shares of the company's stock after selling 2,379 shares during the quarter. Chevy Chase Trust Holdings LLC's holdings in Constellation Brands were worth $18,454,000 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 the stock. State Street Corp boosted its position in shares of Constellation Brands by 6.0% in the 3rd quarter. State Street Corp now owns 7,144,428 shares of the company's stock worth $1,841,048,000 after buying an additional 402,211 shares in the last quarter. Janus Henderson Group PLC grew its stake in Constellation Brands by 1.2% in the 3rd quarter. Janus Henderson Group PLC now owns 1,853,081 shares of the company's stock valued at $477,515,000 after acquiring an additional 21,454 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of Constellation Brands by 1,844.7% during the 4th quarter. Van ECK Associates Corp now owns 924,274 shares of the company's stock worth $204,265,000 after purchasing an additional 876,745 shares during the last quarter. International Assets Investment Management LLC boosted its stake in shares of Constellation Brands by 23,184.7% during the 3rd quarter. International Assets Investment Management LLC now owns 499,689 shares of the company's stock worth $128,765,000 after purchasing an additional 497,543 shares during the last quarter. Finally, National Pension Service boosted its stake in shares of Constellation Brands by 13.6% during the 3rd quarter. National Pension Service now owns 381,755 shares of the company's stock worth $98,374,000 after purchasing an additional 45,707 shares during the last quarter. 77.34% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at Constellation Brands
In related news, Director William T. Giles purchased 1,000 shares of the firm's stock in a transaction dated Friday, January 17th. The stock was acquired at an average price of $186.39 per share, with a total value of $186,390.00. Following the completion of the transaction, the director now owns 1,463 shares of the company's stock, valued at $272,688.57. This represents a 215.98 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 12.19% of the company's stock.
Constellation Brands Stock Up 1.8 %
Shares of STZ traded up $3.09 during mid-day trading on Wednesday, reaching $172.47. 3,202,780 shares of the stock traded hands, compared to its average volume of 2,850,797. The firm has a market cap of $31.17 billion, a price-to-earnings ratio of 46.36, a P/E/G ratio of 1.44 and a beta of 0.90. The stock has a fifty day simple moving average of $198.25 and a 200 day simple moving average of $227.06. Constellation Brands, Inc. has a 12-month low of $160.46 and a 12-month high of $274.87. The company has a quick ratio of 0.46, a current ratio of 1.10 and a debt-to-equity ratio of 1.26.
Constellation Brands (NYSE:STZ - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $2.46 billion for the quarter, compared to analysts' expectations of $2.53 billion. Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. The company's revenue for the quarter was down .3% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.19 EPS. Sell-side analysts expect that Constellation Brands, Inc. will post 13.5 EPS for the current fiscal year.
Constellation Brands Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Friday, February 7th will be given a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date of this dividend is Friday, February 7th. Constellation Brands's payout ratio is currently 108.60%.
Analyst Ratings Changes
Several research firms have issued reports on STZ. Piper Sandler cut shares of Constellation Brands from an "overweight" rating to a "neutral" rating and decreased their price target for the stock from $245.00 to $200.00 in a research note on Monday, February 3rd. BNP Paribas began coverage on shares of Constellation Brands in a research note on Monday, November 25th. They set a "neutral" rating and a $261.00 price target on the stock. Truist Financial decreased their price target on shares of Constellation Brands from $255.00 to $190.00 and set a "hold" rating on the stock in a research note on Tuesday, January 14th. Argus cut shares of Constellation Brands from a "buy" rating to a "hold" rating in a research note on Tuesday, January 14th. Finally, StockNews.com raised shares of Constellation Brands from a "sell" rating to a "hold" rating in a research report on Thursday, February 13th. Ten equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, Constellation Brands has an average rating of "Moderate Buy" and a consensus target price of $254.29.
Read Our Latest Stock Analysis on STZ
Constellation Brands Profile
(
Free Report)
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.
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