Huntington National Bank Sells 158,615 Shares of Constellation Brands, Inc. (NYSE:STZ)

Huntington National Bank lowered its holdings in shares of Constellation Brands, Inc. (NYSE:STZ - Free Report) by 53.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 138,538 shares of the company's stock after selling 158,615 shares during the quarter. Huntington National Bank owned approximately 0.08% of Constellation Brands worth $30,617,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new position in Constellation Brands in the 4th quarter worth approximately $445,883,000. Vanguard Group Inc. lifted its holdings in shares of Constellation Brands by 13.3% in the fourth quarter. Vanguard Group Inc. now owns 15,534,787 shares of the company's stock worth $3,433,188,000 after buying an additional 1,821,969 shares in the last quarter. Van ECK Associates Corp boosted its position in shares of Constellation Brands by 1,844.7% during the fourth quarter. Van ECK Associates Corp now owns 924,274 shares of the company's stock worth $204,265,000 after acquiring an additional 876,745 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Constellation Brands during the fourth quarter valued at $105,766,000. Finally, State Street Corp grew its stake in Constellation Brands by 6.0% during the third quarter. State Street Corp now owns 7,144,428 shares of the company's stock valued at $1,841,048,000 after acquiring an additional 402,211 shares in the last quarter. Hedge funds and other institutional investors own 77.34% of the company's stock.

Constellation Brands Trading Down 4.2 %

Shares of NYSE STZ traded down $7.70 during midday trading on Friday, hitting $173.79. The company's stock had a trading volume of 3,176,710 shares, compared to its average volume of 1,647,030. Constellation Brands, Inc. has a 12-month low of $160.46 and a 12-month high of $274.87. The company has a current ratio of 1.10, a quick ratio of 0.46 and a debt-to-equity ratio of 1.26. The firm has a market cap of $31.41 billion, a P/E ratio of 46.72, a price-to-earnings-growth ratio of 1.52 and a beta of 1.75. The business's 50 day moving average is $177.14 and its two-hundred day moving average is $212.55.

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Constellation Brands (NYSE:STZ - Get Free Report) last released its earnings results on Friday, January 10th. The company reported $3.25 earnings per share for the quarter, missing analysts' consensus estimates of $3.33 by ($0.08). The business had revenue of $2.46 billion during the quarter, compared to analysts' expectations 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 for the quarter was down .3% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.19 EPS. As a group, equities research analysts expect that Constellation Brands, Inc. will post 13.5 EPS for the current year.

Constellation Brands Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 7th were paid a $1.01 dividend. The ex-dividend date was Friday, February 7th. This represents a $4.04 dividend on an annualized basis and a yield of 2.32%. Constellation Brands's dividend payout ratio is currently 108.60%.

Insider Transactions at Constellation Brands

In other news, Director William T. Giles purchased 1,000 shares of the company's stock in a transaction dated Friday, January 17th. The shares were acquired at an average price of $186.39 per share, with a total value of $186,390.00. Following 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 12.19% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on STZ shares. Evercore ISI dropped their price objective on shares of Constellation Brands from $300.00 to $250.00 and set an "outperform" rating for the company in a report on Monday, January 13th. StockNews.com lowered Constellation Brands from a "hold" rating to a "sell" rating in a research note on Friday, March 14th. Royal Bank of Canada cut their price target on Constellation Brands from $293.00 to $289.00 and set an "outperform" rating for the company in a report on Friday, March 7th. Piper Sandler cut Constellation Brands from an "overweight" rating to a "neutral" rating and decreased their price objective for the stock from $245.00 to $200.00 in a report on Monday, February 3rd. Finally, UBS Group lowered their target price on Constellation Brands from $265.00 to $223.00 and set a "buy" rating for the company in a research report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $244.32.

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.