Korea Investment CORP Lowers Position in Constellation Brands, Inc. (NYSE:STZ)

Korea Investment CORP cut its holdings in shares of Constellation Brands, Inc. (NYSE:STZ - Free Report) by 12.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 150,064 shares of the company's stock after selling 21,870 shares during the quarter. Korea Investment CORP owned about 0.08% of Constellation Brands worth $33,164,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Mainstream Capital Management LLC purchased a new stake in shares of Constellation Brands in the fourth quarter valued at about $25,000. SBI Securities Co. Ltd. purchased a new stake in shares of Constellation Brands in the 4th quarter valued at approximately $26,000. Compagnie Lombard Odier SCmA acquired a new stake in shares of Constellation Brands during the 4th quarter worth approximately $27,000. Union Bancaire Privee UBP SA purchased a new stake in shares of Constellation Brands during the 4th quarter valued at approximately $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 acquiring an additional 142 shares during the last quarter. Hedge funds and other institutional investors own 77.34% of the company's stock.

Insider Buying and Selling

In related news, Director William T. Giles bought 1,000 shares of the stock in a transaction on Friday, January 17th. The shares were bought at an average cost of $186.39 per share, for a total transaction of $186,390.00. Following the purchase, the director now owns 1,463 shares of the company's stock, valued at $272,688.57. This trade represents a 215.98 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 12.19% of the stock is owned by company insiders.

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Constellation Brands Stock Up 0.2 %

Shares of Constellation Brands stock traded up $0.34 during trading hours on Tuesday, hitting $183.86. The company had a trading volume of 668,260 shares, compared to its average volume of 2,793,053. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.10 and a quick ratio of 0.46. The company's 50-day moving average is $177.18 and its two-hundred day moving average is $214.02. The company has a market cap of $33.23 billion, a P/E ratio of 49.47, a price-to-earnings-growth ratio of 1.52 and a beta of 1.75. Constellation Brands, Inc. has a twelve month low of $160.46 and a twelve month high of $274.87.

Constellation Brands (NYSE:STZ - Get Free Report) last released its quarterly earnings data on Friday, January 10th. The company reported $3.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.33 by ($0.08). The company had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.53 billion. Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. The business's revenue was down .3% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.19 EPS. Analysts anticipate that Constellation Brands, Inc. will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 7th were issued a $1.01 dividend. The ex-dividend date was Friday, February 7th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 2.20%. Constellation Brands's payout ratio is 108.60%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Wells Fargo & Company reduced their target price on Constellation Brands from $295.00 to $275.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 7th. Truist Financial reduced their price objective on shares of Constellation Brands from $255.00 to $190.00 and set a "hold" rating on the stock in a report on Tuesday, January 14th. Morgan Stanley lowered shares of Constellation Brands from an "overweight" rating to an "equal weight" rating and lowered their target price for the stock from $220.00 to $202.00 in a research note on Thursday, February 27th. Jefferies Financial Group restated a "hold" rating and issued a $201.00 price objective (down from $310.00) on shares of Constellation Brands in a report on Monday, January 13th. Finally, Argus downgraded shares of Constellation Brands from a "buy" rating to a "hold" rating in a report on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Constellation Brands currently has a consensus rating of "Hold" and an average price target of $249.18.

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.