Constellation Brands, Inc. (NYSE:STZ) Shares Sold by Cornerstone Capital Inc.

Cornerstone Capital Inc. reduced its position in Constellation Brands, Inc. (NYSE:STZ - Free Report) by 10.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 45,858 shares of the company's stock after selling 5,234 shares during the quarter. Cornerstone Capital Inc.'s holdings in Constellation Brands were worth $10,135,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of STZ. Mainstream Capital Management LLC bought a new stake in Constellation Brands in the fourth quarter valued at approximately $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 bought a new position in Constellation Brands in the 4th quarter worth approximately $27,000. Union Bancaire Privee UBP SA purchased a new position in Constellation Brands in the 4th quarter valued at approximately $28,000. Finally, Versant Capital Management Inc lifted its position in shares of Constellation Brands by 887.5% during 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. Institutional investors own 77.34% of the company's stock.

Constellation Brands Trading Down 0.7 %

STZ traded down $1.31 during trading on Thursday, hitting $185.97. 847,929 shares of the stock were exchanged, compared to its average volume of 2,781,880. Constellation Brands, Inc. has a 1 year low of $160.46 and a 1 year high of $265.70. The firm has a market cap of $33.61 billion, a price-to-earnings ratio of 49.99, a P/E/G ratio of 1.52 and a beta of 1.75. The firm has a 50 day simple moving average of $180.06 and a 200 day simple moving average of $205.62. 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 (NYSE:STZ - Get Free Report) last released its quarterly earnings data on Wednesday, April 9th. The company reported $2.63 earnings per share for the quarter, topping analysts' consensus estimates of $2.28 by $0.35. The company had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.14 billion. Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. The firm's revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.26 earnings per share. As a group, equities analysts expect that Constellation Brands, Inc. will post 13.5 EPS for the current year.

Constellation Brands Increases Dividend

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

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. TD Cowen lowered their target price on shares of Constellation Brands from $270.00 to $260.00 and set a "hold" rating on the stock in a research note on Wednesday, January 8th. Roth Mkm lowered their target price on shares of Constellation Brands from $284.00 to $256.00 and set a "buy" rating on the stock in a research note on Thursday, April 3rd. Piper Sandler cut shares of Constellation Brands from an "overweight" rating to a "neutral" rating and cut their price target for the stock from $245.00 to $200.00 in a research note on Monday, February 3rd. The Goldman Sachs Group dropped their price objective on shares of Constellation Brands from $260.00 to $225.00 and set a "buy" rating for the company in a report on Friday, April 11th. Finally, Citigroup dropped their price target on Constellation Brands from $200.00 to $190.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. One research 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 MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $224.42.

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.