Constellation Brands, Inc. (NYSE:STZ) Shares Sold by Atlas Capital Advisors Inc.

Atlas Capital Advisors Inc. reduced its position in Constellation Brands, Inc. (NYSE:STZ) by 26.5% in the 4th quarter, Holdings Channel reports. The firm owned 1,668 shares of the company’s stock after selling 600 shares during the quarter. Atlas Capital Advisors Inc.’s holdings in Constellation Brands were worth $369,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Norges Bank purchased a new position in shares of Constellation Brands in the fourth quarter worth about $445,883,000. Vanguard Group Inc. lifted its stake in Constellation Brands by 13.3% in the 4th 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 in the last quarter. Van ECK Associates Corp boosted its holdings in shares of Constellation Brands by 1,844.7% during the 4th quarter. Van ECK Associates Corp now owns 924,274 shares of the company’s stock worth $204,265,000 after purchasing an additional 876,745 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Constellation Brands in the fourth quarter valued at approximately $105,766,000. Finally, State Street Corp increased its holdings in shares of Constellation Brands by 6.0% in the third quarter. State Street Corp now owns 7,144,428 shares of the company’s stock valued at $1,841,048,000 after purchasing an additional 402,211 shares during the last quarter. Institutional investors and hedge funds own 77.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on STZ shares. Barclays lowered their price objective on Constellation Brands from $205.00 to $203.00 and set an “overweight” rating on the stock in a research note on Thursday, March 27th. Morgan Stanley cut shares of Constellation Brands from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $220.00 to $202.00 in a research report on Thursday, February 27th. Wells Fargo & Company decreased their target price on shares of Constellation Brands from $230.00 to $210.00 and set an “overweight” rating on the stock in a report on Wednesday. Roth Capital cut their price target on shares of Constellation Brands from $298.00 to $284.00 and set a “buy” rating for the company in a report on Friday, January 17th. Finally, Piper Sandler cut Constellation Brands from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $245.00 to $200.00 in a report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, Constellation Brands presently has a consensus rating of “Hold” and a consensus price target of $244.32.

Insider Activity at Constellation Brands

In other Constellation Brands news, Director William T. Giles acquired 1,000 shares of the company’s stock in a transaction dated Friday, January 17th. The shares were acquired at an average price of $186.39 per share, for a total transaction of $186,390.00. Following the acquisition, the director now owns 1,463 shares in the company, valued at $272,688.57. The trade was a 215.98 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 12.19% of the stock is currently owned by corporate insiders.

Constellation Brands Trading Down 4.2 %

STZ opened at $173.79 on Friday. The business has a fifty day moving average price of $177.14 and a 200 day moving average price of $212.55. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.10 and a quick ratio of 0.46. Constellation Brands, Inc. has a 12 month low of $160.46 and a 12 month high of $274.87. The stock has a market capitalization of $31.41 billion, a price-to-earnings ratio of 46.72, a PEG ratio of 1.52 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last released its 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). Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The firm had revenue of $2.46 billion for the quarter, compared to analysts’ expectations of $2.53 billion. During the same quarter in the previous year, the company posted $3.19 earnings per share. The firm’s quarterly revenue was down .3% on a year-over-year basis. Sell-side 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 announced a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 7th were paid a dividend of $1.01 per share. The ex-dividend date was Friday, February 7th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 2.32%. Constellation Brands’s payout ratio is currently 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.