Martingale Asset Management L P Decreases Stock Position in Constellation Brands, Inc. (NYSE:STZ)

Martingale Asset Management L P decreased its stake in shares of Constellation Brands, Inc. (NYSE:STZ - Free Report) by 45.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,950 shares of the company's stock after selling 1,650 shares during the quarter. Martingale Asset Management L P's holdings in Constellation Brands were worth $431,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Allworth Financial LP boosted its stake in shares of Constellation Brands by 0.8% in the fourth quarter. Allworth Financial LP now owns 7,357 shares of the company's stock valued at $1,626,000 after purchasing an additional 59 shares during the period. BSW Wealth Partners boosted its holdings in Constellation Brands by 4.2% in the fourth quarter. BSW Wealth Partners now owns 1,563 shares of the company's stock valued at $345,000 after purchasing an additional 63 shares during the period. Philip James Wealth Mangement LLC increased its holdings in Constellation Brands by 8.0% during the 4th quarter. Philip James Wealth Mangement LLC now owns 923 shares of the company's stock worth $204,000 after purchasing an additional 68 shares during the period. Oak Asset Management LLC raised its position in Constellation Brands by 0.4% in the 4th quarter. Oak Asset Management LLC now owns 17,611 shares of the company's stock valued at $3,892,000 after purchasing an additional 71 shares in the last quarter. Finally, Barden Capital Management Inc. grew its position in shares of Constellation Brands by 1.3% during the fourth quarter. Barden Capital Management Inc. now owns 5,574 shares of the company's stock worth $1,232,000 after buying an additional 72 shares in the last quarter. 77.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Royal Bank of Canada decreased their price target on shares of Constellation Brands from $289.00 to $233.00 and set an "outperform" rating for the company in a research note on Monday. Evercore ISI cut their price target on Constellation Brands from $300.00 to $250.00 and set an "outperform" rating on the stock in a research note on Monday, January 13th. Piper Sandler downgraded Constellation Brands from an "overweight" rating to a "neutral" rating and dropped their price objective for the company from $245.00 to $200.00 in a report on Monday, February 3rd. BMO Capital Markets decreased their target price on Constellation Brands from $260.00 to $215.00 and set an "outperform" rating for the company in a research note on Friday, April 11th. Finally, Jefferies Financial Group reiterated a "hold" rating and issued a $201.00 price target (down from $310.00) on shares of Constellation Brands in a research note on Monday, January 13th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $224.42.

Constellation Brands Stock Performance

Shares of STZ stock traded up $3.55 during mid-day trading on Friday, hitting $186.58. The stock had a trading volume of 1,295,276 shares, compared to its average volume of 1,690,928. The firm has a market cap of $33.72 billion, a PE ratio of 50.16, a PEG ratio of 1.52 and a beta of 1.75. The company's 50-day simple moving average is $178.12 and its 200-day simple moving average is $207.38. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.10 and a quick ratio of 0.46. Constellation Brands, Inc. has a fifty-two week low of $160.46 and a fifty-two week high of $265.70.

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

Constellation Brands Increases Dividend

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

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.