Price T Rowe Associates Inc. MD Decreases Stock Position in Constellation Brands, Inc. (NYSE:STZ)

Price T Rowe Associates Inc. MD lowered its position in Constellation Brands, Inc. (NYSE:STZ - Free Report) by 3.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,465,075 shares of the company's stock after selling 55,747 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 0.81% of Constellation Brands worth $323,783,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Constellation Brands by 13.3% during the fourth quarter. Vanguard Group Inc. now owns 15,534,787 shares of the company's stock worth $3,433,188,000 after purchasing an additional 1,821,969 shares during the period. Capital World Investors raised its position in Constellation Brands by 3.4% during the 4th quarter. Capital World Investors now owns 9,755,602 shares of the company's stock worth $2,155,946,000 after buying an additional 324,690 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Constellation Brands by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 3,204,003 shares of the company's stock worth $705,844,000 after acquiring an additional 63,323 shares during the period. Capital Research Global Investors increased its stake in shares of Constellation Brands by 0.6% during the fourth quarter. Capital Research Global Investors now owns 2,901,975 shares of the company's stock worth $641,336,000 after acquiring an additional 18,557 shares during the period. Finally, Grantham Mayo Van Otterloo & Co. LLC raised its holdings in Constellation Brands by 42.9% during the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 2,454,258 shares of the company's stock worth $542,391,000 after purchasing an additional 736,780 shares in the last quarter. Hedge funds and other institutional investors own 77.34% of the company's stock.

Analyst Ratings Changes

Several research firms have issued reports on STZ. Piper Sandler cut Constellation Brands from an "overweight" rating to a "neutral" rating and dropped their target price for the stock from $245.00 to $200.00 in a research report on Monday, February 3rd. Roth Capital cut their price objective on Constellation Brands from $298.00 to $284.00 and set a "buy" rating for the company in a research report on Friday, January 17th. StockNews.com downgraded shares of Constellation Brands from a "hold" rating to a "sell" rating in a report on Thursday, April 17th. Truist Financial decreased their price objective on shares of Constellation Brands from $255.00 to $190.00 and set a "hold" rating on the stock in a report on Tuesday, January 14th. Finally, Morgan Stanley dropped their target price on shares of Constellation Brands from $202.00 to $195.00 and set an "equal weight" rating for the company in a report on Friday, April 11th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, Constellation Brands presently has an average rating of "Hold" and a consensus target price of $224.42.

Constellation Brands Trading Up 0.2 %

Shares of NYSE STZ traded up $0.45 on Tuesday, reaching $186.20. 1,420,931 shares of the company traded hands, compared to its average volume of 1,709,897. Constellation Brands, Inc. has a fifty-two week low of $160.46 and a fifty-two week high of $265.70. The company has a 50 day moving average of $181.15 and a 200 day moving average of $203.97. The stock has a market capitalization of $33.65 billion, a PE ratio of 50.05, a P/E/G ratio of 1.52 and a beta of 1.75. 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 announced its quarterly earnings results on Wednesday, April 9th. The company reported $2.63 earnings per share for the quarter, beating analysts' consensus estimates of $2.28 by $0.35. The company had revenue of $2.13 billion for 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%. Constellation Brands's revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter last year, the business earned $2.26 EPS. On average, equities research analysts forecast that Constellation Brands, Inc. will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Increases Dividend

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

About Constellation Brands

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.