Coho Partners Ltd. Sells 65,663 Shares of Constellation Brands, Inc. (NYSE:STZ)

Coho Partners Ltd. trimmed its position in Constellation Brands, Inc. (NYSE:STZ - Free Report) by 23.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 217,416 shares of the company's stock after selling 65,663 shares during the period. Constellation Brands makes up approximately 2.2% of Coho Partners Ltd.'s holdings, making the stock its 27th biggest holding. Coho Partners Ltd. owned 0.12% of Constellation Brands worth $48,049,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Oakworth Capital Inc. grew its stake in Constellation Brands by 4.4% in the third quarter. Oakworth Capital Inc. now owns 989 shares of the company's stock valued at $255,000 after acquiring an additional 42 shares during the period. PFG Investments LLC grew its position in shares of Constellation Brands by 3.8% in the 3rd quarter. PFG Investments LLC now owns 1,150 shares of the company's stock valued at $296,000 after purchasing an additional 42 shares during the period. Metis Global Partners LLC increased its stake in Constellation Brands by 0.8% during the 3rd quarter. Metis Global Partners LLC now owns 5,570 shares of the company's stock worth $1,435,000 after purchasing an additional 46 shares in the last quarter. Rosenberg Matthew Hamilton raised its holdings in Constellation Brands by 6.2% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 858 shares of the company's stock worth $221,000 after buying an additional 50 shares during the period. Finally, Strategic Investment Solutions Inc. IL raised its holdings in Constellation Brands by 4.6% during the 3rd quarter. Strategic Investment Solutions Inc. IL now owns 1,158 shares of the company's stock worth $298,000 after buying an additional 51 shares during the period. Institutional investors own 77.34% of the company's stock.

Insider Activity

In related news, Director William T. Giles purchased 1,000 shares of the stock in a transaction on Friday, January 17th. The shares were purchased at an average cost of $186.39 per share, with a total value of $186,390.00. Following the acquisition, the director now directly owns 1,463 shares in the company, valued at $272,688.57. The trade was a 215.98 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Wildstar Partners Llc sold 660 shares of the business's stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $241.00, for a total value of $159,060.00. Following the sale, the insider now owns 1,736,884 shares of the company's stock, valued at approximately $418,589,044. This represents a 0.04 % decrease in their position. The disclosure for this sale can be found here. Insiders own 12.19% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. UBS Group lowered their price objective on shares of Constellation Brands from $265.00 to $223.00 and set a "buy" rating for the company in a research report on Friday, January 17th. Morgan Stanley dropped their price target on Constellation Brands from $280.00 to $220.00 and set an "overweight" rating on the stock in a research note on Monday, January 13th. Piper Sandler cut Constellation Brands from an "overweight" rating to a "neutral" rating and reduced their price objective for the stock from $245.00 to $200.00 in a research report on Monday, February 3rd. Royal Bank of Canada reissued an "outperform" rating and issued a $293.00 target price on shares of Constellation Brands in a research report on Monday, February 3rd. Finally, Wells Fargo & Company reduced their price target 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. Ten equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat.com, Constellation Brands currently has a consensus rating of "Moderate Buy" and an average target price of $254.29.

Constellation Brands Stock Performance

Constellation Brands stock traded up $6.17 during midday trading on Tuesday, reaching $169.11. 6,208,924 shares of the company's stock were exchanged, compared to its average volume of 2,839,297. The stock's 50-day simple moving average is $199.72 and its 200 day simple moving average is $227.61. The firm has a market cap of $30.56 billion, a price-to-earnings ratio of 45.46, a P/E/G ratio of 1.51 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, Inc. has a 52 week low of $160.46 and a 52 week high of $274.87.

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

Constellation Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Friday, February 7th will be given a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 2.39%. The ex-dividend date of this dividend is Friday, February 7th. Constellation Brands's payout ratio is presently 108.60%.

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.