Constellation Brands, Inc. (NYSE:STZ) Position Trimmed by Patten & Patten Inc. TN

Patten & Patten Inc. TN trimmed its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 14.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 29,374 shares of the company’s stock after selling 4,864 shares during the quarter. Patten & Patten Inc. TN’s holdings in Constellation Brands were worth $6,492,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in STZ. Mainstream Capital Management LLC bought a new stake in Constellation Brands during the fourth quarter worth approximately $25,000. SBI Securities Co. Ltd. bought a new stake in Constellation Brands during the fourth quarter worth approximately $26,000. Compagnie Lombard Odier SCmA bought a new stake in Constellation Brands during the fourth quarter worth approximately $27,000. Union Bancaire Privee UBP SA bought a new stake in Constellation Brands during the fourth quarter worth approximately $28,000. Finally, Versant Capital Management Inc boosted its stake in Constellation Brands by 887.5% in the 4th quarter. Versant Capital Management Inc now owns 158 shares of the company’s stock worth $35,000 after purchasing an additional 142 shares during the period. 77.34% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

STZ has been the subject of a number of recent analyst reports. UBS Group decreased their price objective on shares of Constellation Brands from $265.00 to $223.00 and set a “buy” rating for the company in a research note on Friday, January 17th. BNP Paribas initiated coverage on shares of Constellation Brands in a research note on Monday, November 25th. They issued a “neutral” rating and a $261.00 price objective for the company. Roth Capital decreased their price objective on shares of Constellation Brands from $298.00 to $284.00 and set a “buy” rating for the company in a research note on Friday, January 17th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $203.00 price objective (down previously from $262.00) on shares of Constellation Brands in a research note on Monday, January 13th. Finally, Piper Sandler lowered shares of Constellation Brands from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $245.00 to $200.00 in a research note on Monday, February 3rd. One analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, Constellation Brands presently has a consensus rating of “Hold” and an average price target of $252.81.

Insider Buying and Selling

In other 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 purchased at an average price 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. The trade was a 215.98 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 12.19% of the company’s stock.

Constellation Brands Stock Down 0.1 %

Constellation Brands stock opened at $181.46 on Friday. The company has a market capitalization of $32.79 billion, a P/E ratio of 48.78, a P/E/G ratio of 1.52 and a beta of 1.75. The firm’s fifty day simple moving average is $180.58 and its 200-day simple moving average is $219.23. 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, Inc. has a 1-year low of $160.46 and a 1-year high of $274.87.

Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Friday, January 10th. The company reported $3.25 earnings per share for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.08). The business had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.53 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 down .3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.19 EPS. Sell-side analysts forecast that Constellation Brands, Inc. will post 13.5 earnings per share 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 issued a $1.01 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $4.04 annualized dividend and a yield of 2.23%. Constellation Brands’s dividend payout ratio (DPR) 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.