Corebridge Financial Inc. Sells 1,854 Shares of Constellation Brands, Inc. (NYSE:STZ)

Corebridge Financial Inc. lowered its position in Constellation Brands, Inc. (NYSE:STZ - Free Report) by 4.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 35,882 shares of the company's stock after selling 1,854 shares during the period. Corebridge Financial Inc.'s holdings in Constellation Brands were worth $7,930,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mainstream Capital Management LLC bought a new position in shares of Constellation Brands during the 4th quarter valued at $25,000. SBI Securities Co. Ltd. bought a new position in Constellation Brands during the fourth quarter valued at about $26,000. Compagnie Lombard Odier SCmA acquired a new stake in shares of Constellation Brands in the fourth quarter worth about $27,000. Union Bancaire Privee UBP SA acquired a new position in shares of Constellation Brands during the 4th quarter valued at about $28,000. Finally, Versant Capital Management Inc raised its stake in shares of Constellation Brands by 887.5% in the 4th quarter. Versant Capital Management Inc now owns 158 shares of the company's stock valued at $35,000 after acquiring an additional 142 shares in the last quarter. Institutional investors own 77.34% of the company's stock.

Insider Buying and Selling at Constellation Brands

In other news, Director William T. Giles purchased 1,000 shares of the firm's stock in a transaction dated Friday, January 17th. The stock was bought at an average price of $186.39 per share, with a total value of $186,390.00. Following the acquisition, the director now directly owns 1,463 shares of the company's stock, valued at approximately $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 SEC, which is available at this hyperlink. Insiders own 12.19% of the company's stock.

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Constellation Brands Trading Up 0.3 %

STZ stock traded up $0.53 during trading on Monday, hitting $184.27. The company had a trading volume of 661,439 shares, compared to its average volume of 1,624,378. The firm has a 50-day moving average price of $177.19 and a 200-day moving average price of $214.50. Constellation Brands, Inc. has a 12 month low of $160.46 and a 12 month high of $274.87. The company has a quick ratio of 0.46, a current ratio of 1.10 and a debt-to-equity ratio of 1.26. The stock has a market cap of $33.30 billion, a price-to-earnings ratio of 49.59, a PEG ratio of 1.52 and a beta of 1.75.

Constellation Brands (NYSE:STZ - Get Free Report) last announced its quarterly earnings data on Friday, January 10th. The company reported $3.25 earnings per share for the quarter, missing the consensus estimate of $3.33 by ($0.08). Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. The business 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 company earned $3.19 earnings per share. The company's quarterly revenue was down .3% on a year-over-year basis. As a group, analysts predict that Constellation Brands, Inc. will post 13.5 earnings per share for the current year.

Constellation Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Investors 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 yield of 2.19%. Constellation Brands's dividend payout ratio is presently 108.60%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Barclays lowered their price target on Constellation Brands from $205.00 to $203.00 and set an "overweight" rating on the stock in a report on Thursday. Evercore ISI lowered their price target on Constellation Brands from $300.00 to $250.00 and set an "outperform" rating on the stock in a research report on Monday, January 13th. Jefferies Financial Group restated a "hold" rating and set a $201.00 target price (down previously from $310.00) on shares of Constellation Brands in a research note on Monday, January 13th. Morgan Stanley downgraded Constellation Brands from an "overweight" rating to an "equal weight" rating and dropped their price target for the stock from $220.00 to $202.00 in a research report on Thursday, February 27th. Finally, Wells Fargo & Company reduced their price objective 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. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $249.18.

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.