Investment House LLC Sells 20,577 Shares of Constellation Brands, Inc. (NYSE:STZ)

Investment House LLC lowered its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 81.8% in the fourth quarter, HoldingsChannel reports. The firm owned 4,588 shares of the company’s stock after selling 20,577 shares during the period. Investment House LLC’s holdings in Constellation Brands were worth $1,014,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of STZ. State Street Corp lifted its stake in shares of Constellation Brands by 6.0% during the 3rd quarter. State Street Corp now owns 7,144,428 shares of the company’s stock worth $1,841,048,000 after buying an additional 402,211 shares during the last quarter. Janus Henderson Group PLC raised its holdings in Constellation Brands by 1.2% in the 3rd quarter. Janus Henderson Group PLC now owns 1,853,081 shares of the company’s stock valued at $477,515,000 after acquiring an additional 21,454 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Constellation Brands by 2.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,782,964 shares of the company’s stock worth $394,035,000 after acquiring an additional 38,786 shares during the last quarter. Van ECK Associates Corp boosted its holdings in shares of Constellation Brands by 1,844.7% during the fourth quarter. Van ECK Associates Corp now owns 924,274 shares of the company’s stock worth $204,265,000 after acquiring an additional 876,745 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in shares of Constellation Brands in the fourth quarter valued at approximately $105,766,000. Institutional investors own 77.34% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on STZ. StockNews.com downgraded Constellation Brands from a “hold” rating to a “sell” rating in a research note on Friday, March 14th. Needham & Company LLC restated a “buy” rating and issued a $240.00 price target on shares of Constellation Brands in a research note on Monday, January 27th. Piper Sandler lowered shares of Constellation Brands from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $245.00 to $200.00 in a research report on Monday, February 3rd. UBS Group cut their price objective on shares of Constellation Brands from $265.00 to $223.00 and set a “buy” rating for the company in a report on Friday, January 17th. Finally, BNP Paribas started coverage on shares of Constellation Brands in a report on Monday, November 25th. They set a “neutral” rating and a $261.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $252.81.

Insider Buying and Selling

In other news, Director William T. Giles purchased 1,000 shares of the business’s stock in a transaction dated Friday, January 17th. The shares were purchased 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 owns 1,463 shares of the company’s stock, valued at $272,688.57. This trade represents a 215.98 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. 12.19% of the stock is currently owned by corporate insiders.

Constellation Brands Stock Performance

Constellation Brands stock opened at $178.99 on Thursday. The company has a quick ratio of 0.46, a current ratio of 1.10 and a debt-to-equity ratio of 1.26. The stock has a market cap of $32.35 billion, a PE ratio of 48.11, a P/E/G ratio of 1.52 and a beta of 1.75. Constellation Brands, Inc. has a 12-month low of $160.46 and a 12-month high of $274.87. The business’s 50-day moving average price is $178.20 and its two-hundred day moving average price is $217.99.

Constellation Brands (NYSE:STZ) last announced its quarterly 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 net margin of 6.27% and a return on equity of 26.55%. The company’s revenue for the quarter was down .3% compared to the same quarter last year. During the same period last year, the firm posted $3.19 earnings per share. As a group, analysts expect that Constellation Brands, Inc. will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 7th were issued a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a dividend yield of 2.26%. The ex-dividend date of this dividend was Friday, February 7th. Constellation Brands’s dividend payout ratio (DPR) is 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.