Constellation Brands, Inc. (NYSE:STZ) Stock Holdings Lowered by Sterling Capital Management LLC

Sterling Capital Management LLC cut its holdings in shares of Constellation Brands, Inc. (NYSE:STZ - Free Report) by 96.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 609 shares of the company's stock after selling 14,573 shares during the quarter. Sterling Capital Management LLC's holdings in Constellation Brands were worth $135,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Constellation Brands during the 4th quarter worth about $445,883,000. Vanguard Group Inc. raised its stake in 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. Van ECK Associates Corp boosted its holdings in shares of Constellation Brands by 1,844.7% in the 4th quarter. Van ECK Associates Corp now owns 924,274 shares of the company's stock valued at $204,265,000 after purchasing an additional 876,745 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC grew its stake in shares of Constellation Brands by 42.9% during the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 2,454,258 shares of the company's stock valued at $542,391,000 after buying an additional 736,780 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in shares of Constellation Brands during the 4th quarter worth $105,766,000. 77.34% of the stock is owned by institutional investors and hedge funds.

Constellation Brands Stock Performance

Shares of STZ traded up $0.28 during midday trading on Thursday, hitting $187.56. 1,586,896 shares of the stock traded hands, compared to its average volume of 1,704,072. The business's 50 day moving average price is $180.06 and its two-hundred day moving average price is $205.62. The firm has a market capitalization of $33.90 billion, a PE ratio of 50.42, a price-to-earnings-growth ratio of 1.52 and a beta of 1.75. 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 1-year low of $160.46 and a 1-year high of $265.70.

Constellation Brands (NYSE:STZ - Get Free Report) last posted its earnings results on Wednesday, April 9th. The company reported $2.63 EPS for the quarter, topping the consensus estimate of $2.28 by $0.35. The firm had revenue of $2.13 billion during the quarter, compared to analysts' expectations of $2.14 billion. Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. Constellation Brands's quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.26 EPS. Equities research analysts predict that Constellation Brands, Inc. will post 13.5 EPS for the current fiscal year.

Constellation Brands Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 29th will be issued a $1.02 dividend. The ex-dividend date of this dividend is Tuesday, April 29th. This is a boost from Constellation Brands's previous quarterly dividend of $1.01. This represents a $4.08 annualized dividend and a dividend yield of 2.18%. Constellation Brands's dividend payout ratio (DPR) is -800.00%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on STZ. Evercore ISI lowered their price target on Constellation Brands from $300.00 to $250.00 and set an "outperform" rating for the company in a research report on Monday, January 13th. Truist Financial cut their target price on shares of Constellation Brands from $255.00 to $190.00 and set a "hold" rating on the stock in a research note on Tuesday, January 14th. Royal Bank of Canada lowered their price target on Constellation Brands from $289.00 to $233.00 and set an "outperform" rating for the company in a report on Monday, April 14th. Roth Capital decreased their price target on Constellation Brands from $298.00 to $284.00 and set a "buy" rating for the company in a report on Friday, January 17th. Finally, Morgan Stanley dropped their price target on shares of Constellation Brands from $202.00 to $195.00 and set an "equal weight" rating on the stock in a research note on Friday, April 11th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $224.42.

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.