Sandy Spring Bank Has $2.76 Million Stock Holdings in Constellation Brands, Inc. (NYSE:STZ)

Sandy Spring Bank reduced its holdings in Constellation Brands, Inc. (NYSE:STZ - Free Report) by 21.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,484 shares of the company's stock after selling 3,507 shares during the quarter. Sandy Spring Bank's holdings in Constellation Brands were worth $2,759,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Mainstream Capital Management LLC purchased a new stake in shares of Constellation Brands during the fourth quarter valued at $25,000. SBI Securities Co. Ltd. purchased a new stake in Constellation Brands during the fourth quarter valued at about $26,000. Compagnie Lombard Odier SCmA purchased a new stake in Constellation Brands during the fourth quarter valued at about $27,000. Union Bancaire Privee UBP SA purchased a new position in shares of Constellation Brands in the fourth quarter worth approximately $28,000. Finally, Versant Capital Management Inc increased its position in shares of Constellation Brands by 887.5% in the fourth quarter. Versant Capital Management Inc now owns 158 shares of the company's stock worth $35,000 after acquiring an additional 142 shares in the last quarter. 77.34% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on STZ. Barclays decreased their price objective on shares of Constellation Brands from $214.00 to $205.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. Wells Fargo & Company decreased their target price 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. Piper Sandler lowered Constellation Brands from an "overweight" rating to a "neutral" rating and dropped their price target for the company from $245.00 to $200.00 in a research report on Monday, February 3rd. Jefferies Financial Group restated a "hold" rating and set a $201.00 price objective (down from $310.00) on shares of Constellation Brands in a research report on Monday, January 13th. Finally, Evercore ISI dropped their target price on Constellation Brands from $300.00 to $250.00 and set an "outperform" rating on the stock in a report on Monday, January 13th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $250.41.

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Constellation Brands Stock Performance

Shares of STZ traded up $3.06 during mid-day trading on Monday, hitting $180.48. The company's stock had a trading volume of 2,071,778 shares, compared to its average volume of 1,572,162. The stock's 50-day moving average is $177.22 and its two-hundred day moving average is $216.39. The firm has a market capitalization of $32.62 billion, a PE ratio of 48.52, a price-to-earnings-growth ratio of 1.52 and a beta of 0.90. 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 one year low of $160.46 and a one year high of $274.87.

Constellation Brands (NYSE:STZ - Get Free Report) last posted its quarterly earnings results 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). Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The company had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.53 billion. During the same quarter in the prior year, the business earned $3.19 earnings per share. The business's revenue for the quarter was down .3% on a year-over-year basis. As a group, sell-side analysts anticipate that Constellation Brands, Inc. will post 13.5 EPS for the current year.

Constellation Brands Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 7th were issued a $1.01 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $4.04 annualized dividend and a yield of 2.24%. Constellation Brands's dividend payout ratio (DPR) is 108.60%.

Insiders Place Their Bets

In other news, Director William T. Giles bought 1,000 shares of the business's stock in a transaction that occurred on Friday, January 17th. The stock was acquired at an average cost of $186.39 per share, for a total transaction of $186,390.00. Following the completion of 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 purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 12.19% of the company's stock.

Constellation Brands 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.