Truist Financial Corp Lowers Stock Position in Constellation Brands, Inc. (NYSE:STZ)

Truist Financial Corp lessened its holdings in Constellation Brands, Inc. (NYSE:STZ - Free Report) by 15.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 55,593 shares of the company's stock after selling 10,062 shares during the quarter. Truist Financial Corp's holdings in Constellation Brands were worth $12,286,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in STZ. Compagnie Lombard Odier SCmA bought a new stake in Constellation Brands during the fourth quarter worth $27,000. Union Bancaire Privee UBP SA bought a new stake in Constellation Brands during the fourth quarter worth $28,000. Eastern Bank bought a new stake in Constellation Brands during the third quarter worth $39,000. Versant Capital Management Inc raised its position in 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. Finally, FSA Wealth Management LLC bought a new stake in Constellation Brands during the third quarter worth $42,000. Institutional investors own 77.34% of the company's stock.

Insider Buying and Selling

In related news, Director William T. Giles bought 1,000 shares of the business's stock in a transaction that occurred on Friday, January 17th. The shares were acquired at an average cost of $186.39 per share, with a total value of $186,390.00. Following the completion of the purchase, the director now directly owns 1,463 shares in the company, valued at $272,688.57. The trade was a 215.98 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 12.19% of the stock is owned by insiders.

Analysts Set New Price Targets

STZ has been the topic of several analyst reports. Morgan Stanley dropped their price target on shares of Constellation Brands from $280.00 to $220.00 and set an "overweight" rating on the stock in a research report on Monday, January 13th. Wells Fargo & Company dropped their price objective on shares of Constellation Brands from $295.00 to $275.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 7th. Evercore ISI dropped their price objective on shares of Constellation Brands from $300.00 to $250.00 and set an "outperform" rating on the stock in a research report on Monday, January 13th. StockNews.com raised shares of Constellation Brands from a "sell" rating to a "hold" rating in a research report on Thursday, February 13th. Finally, Piper Sandler lowered shares of Constellation Brands from an "overweight" rating to a "neutral" rating and dropped their price objective for the company from $245.00 to $200.00 in a research report on Monday, February 3rd. Ten investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $254.29.

Constellation Brands Trading Up 2.1 %

Shares of STZ traded up $3.67 during trading hours on Friday, hitting $176.00. 3,974,076 shares of the stock were exchanged, compared to its average volume of 2,930,950. Constellation Brands, Inc. has a fifty-two week low of $160.46 and a fifty-two week high of $274.87. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.10 and a quick ratio of 0.46. The business has a 50-day moving average of $195.56 and a 200-day moving average of $226.30. The firm has a market capitalization of $31.81 billion, a P/E ratio of 47.31, a price-to-earnings-growth ratio of 1.52 and a beta of 0.90.

Constellation Brands (NYSE:STZ - Get Free Report) last issued its earnings results on Friday, January 10th. The company reported $3.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.33 by ($0.08). The company had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.53 billion. Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The firm's revenue was down .3% compared to the same quarter last year. During the same period in the prior year, the company earned $3.19 earnings per share. On average, research analysts expect that Constellation Brands, Inc. will post 13.5 EPS for the current year.

Constellation Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Friday, February 7th will be paid a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 2.30%. The ex-dividend date of this dividend is Friday, February 7th. Constellation Brands's dividend payout ratio is presently 108.60%.

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.