Emerald Advisers LLC lessened its stake in Constellation Brands, Inc. (NYSE:STZ - Free Report) by 55.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,824 shares of the company's stock after selling 2,285 shares during the quarter. Emerald Advisers LLC's holdings in Constellation Brands were worth $403,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Allworth Financial LP raised its position in shares of Constellation Brands by 0.8% in the 4th 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 in the last quarter. BSW Wealth Partners raised 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 acquiring an additional 63 shares in the last quarter. Philip James Wealth Mangement LLC boosted its stake in Constellation Brands by 8.0% during the 4th quarter. Philip James Wealth Mangement LLC now owns 923 shares of the company's stock valued at $204,000 after acquiring an additional 68 shares during the last quarter. Oak Asset Management LLC grew its holdings in Constellation Brands by 0.4% during the 4th quarter. Oak Asset Management LLC now owns 17,611 shares of the company's stock worth $3,892,000 after acquiring an additional 71 shares in the last quarter. Finally, Hartford Funds Management Co LLC increased its position in shares of Constellation Brands by 4.2% in the 3rd quarter. Hartford Funds Management Co LLC now owns 1,797 shares of the company's stock worth $463,000 after purchasing an additional 72 shares during the last quarter. Institutional investors and hedge funds own 77.34% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research firms recently commented on STZ. Needham & Company LLC reiterated a "buy" rating and issued a $240.00 price target on shares of Constellation Brands in a research note on Monday, January 27th. Truist Financial lowered their price target on Constellation Brands from $255.00 to $190.00 and set a "hold" rating for the company in a report on Tuesday, January 14th. Citigroup cut Constellation Brands from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $260.00 to $200.00 in a research note on Thursday. JPMorgan Chase & Co. reiterated a "neutral" rating and set a $203.00 target price (down previously from $262.00) on shares of Constellation Brands in a research note on Monday, January 13th. Finally, Piper Sandler downgraded shares of Constellation Brands from an "overweight" rating to a "neutral" rating and reduced their price target for the stock from $245.00 to $200.00 in a research report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $250.41.
Check Out Our Latest Analysis on Constellation Brands
Insider Buying and Selling
In other Constellation Brands news, Director William T. Giles bought 1,000 shares of the company's stock in a transaction that occurred on Friday, January 17th. The shares were acquired at an average cost of $186.39 per share, for a total transaction of $186,390.00. Following the acquisition, the director now directly owns 1,463 shares of the company's stock, valued at $272,688.57. This trade represents a 215.98 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. 12.19% of the stock is owned by corporate insiders.
Constellation Brands Stock Down 0.6 %
Constellation Brands stock opened at $177.73 on Monday. Constellation Brands, Inc. has a 52 week low of $160.46 and a 52 week high of $274.87. The stock has a market cap of $32.12 billion, a price-to-earnings ratio of 47.78, a PEG ratio of 1.52 and a beta of 0.90. The company's 50-day moving average price is $177.32 and its two-hundred day moving average price is $216.87. The company has a current ratio of 1.10, a quick ratio of 0.46 and a debt-to-equity ratio of 1.26.
Constellation Brands (NYSE:STZ - Get Free Report) last posted its quarterly earnings data on Friday, January 10th. The company reported $3.25 EPS for the quarter, missing analysts' consensus estimates of $3.33 by ($0.08). The company had revenue of $2.46 billion for 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%. Constellation Brands's revenue was down .3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.19 EPS. On average, analysts expect that Constellation Brands, Inc. will post 13.5 EPS for the current fiscal year.
Constellation Brands Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 7th were paid a dividend of $1.01 per share. The ex-dividend date was Friday, February 7th. This represents a $4.04 annualized dividend and a yield of 2.27%. Constellation Brands's dividend payout ratio is currently 108.60%.
Constellation Brands Profile
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Free Report)
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.
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