Alliancebernstein L.P. Sells 350,175 Shares of Constellation Brands, Inc. (NYSE:STZ)

Alliancebernstein L.P. reduced its stake in Constellation Brands, Inc. (NYSE:STZ) by 13.4% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 2,269,160 shares of the company’s stock after selling 350,175 shares during the period. Alliancebernstein L.P.’s holdings in Constellation Brands were worth $501,484,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in the stock. Glenmede Trust Co. NA grew its position in shares of Constellation Brands by 16.5% during the 3rd quarter. Glenmede Trust Co. NA now owns 3,908 shares of the company’s stock valued at $1,007,000 after acquiring an additional 554 shares during the period. CreativeOne Wealth LLC purchased a new stake in Constellation Brands in the third quarter worth $565,000. Public Sector Pension Investment Board raised its stake in shares of Constellation Brands by 3.5% in the third quarter. Public Sector Pension Investment Board now owns 5,904 shares of the company’s stock valued at $1,521,000 after buying an additional 200 shares during the period. Cobblestone Capital Advisors LLC NY raised its stake in shares of Constellation Brands by 3.9% in the third quarter. Cobblestone Capital Advisors LLC NY now owns 8,785 shares of the company’s stock valued at $2,264,000 after buying an additional 330 shares during the period. Finally, Erste Asset Management GmbH purchased a new position in shares of Constellation Brands during the 3rd quarter valued at $13,619,000. Institutional investors own 77.34% of the company’s stock.

Insider Activity at Constellation Brands

In other Constellation Brands news, Director William T. Giles purchased 1,000 shares of the business’s stock in a transaction on Friday, January 17th. The stock was acquired at an average cost of $186.39 per share, for a total transaction of $186,390.00. Following the completion of the transaction, the director now directly owns 1,463 shares in the company, valued at approximately $272,688.57. This represents a 215.98 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 12.19% of the stock is owned by insiders.

Constellation Brands Stock Performance

NYSE STZ opened at $183.69 on Monday. The company has a market capitalization of $33.20 billion, a P/E ratio of 49.38, a P/E/G 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 52-week low of $160.46 and a 52-week high of $274.87. The company has a fifty day moving average of $177.19 and a 200-day moving average of $214.50.

Constellation Brands (NYSE:STZ) last issued 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 firm 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 company’s revenue for the quarter was down .3% on a year-over-year basis. During the same period last year, the firm earned $3.19 EPS. As a group, equities research analysts predict that Constellation Brands, Inc. will post 13.5 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 7th were given a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date was Friday, February 7th. Constellation Brands’s payout ratio is currently 108.60%.

Analyst Ratings Changes

STZ has been the subject of several recent research reports. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $203.00 price objective (down previously from $262.00) on shares of Constellation Brands in a report on Monday, January 13th. Wells Fargo & Company cut their price objective on shares of Constellation Brands from $295.00 to $275.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Argus cut shares of Constellation Brands from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. TD Cowen cut their price target on Constellation Brands from $270.00 to $260.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. Finally, Piper Sandler cut Constellation Brands from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $245.00 to $200.00 in a research report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $249.18.

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.