Define Financial LLC Cuts Stock Position in Constellation Brands, Inc. (NYSE:STZ)

Define Financial LLC decreased its holdings in Constellation Brands, Inc. (NYSE:STZ) by 9.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,960 shares of the company’s stock after selling 194 shares during the period. Constellation Brands accounts for about 0.3% of Define Financial LLC’s portfolio, making the stock its 20th biggest holding. Define Financial LLC’s holdings in Constellation Brands were worth $364,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in STZ. Mainstream Capital Management LLC bought a new stake in Constellation Brands in the fourth quarter worth about $25,000. SBI Securities Co. Ltd. purchased a new position in Constellation Brands in the 4th quarter worth about $26,000. Compagnie Lombard Odier SCmA bought a new stake in Constellation Brands during the 4th quarter valued at about $27,000. Union Bancaire Privee UBP SA purchased a new stake in Constellation Brands in the 4th quarter valued at about $28,000. Finally, Minot DeBlois Advisors LLC bought a new position in Constellation Brands in the 4th quarter worth about $29,000. 77.34% of the stock is currently owned by institutional investors.

Insider Transactions at Constellation Brands

In other news, EVP Samuel J. Glaetzer sold 3,150 shares of the business’s stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $188.54, for a total transaction of $593,901.00. Following the transaction, the executive vice president now directly owns 3,126 shares in the company, valued at $589,376.04. The trade was a 50.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 12.19% of the company’s stock.

Constellation Brands Stock Performance

NYSE STZ opened at $168.98 on Thursday. The stock has a market capitalization of $30.08 billion, a price-to-earnings ratio of 45.43, a PEG ratio of 1.52 and a beta of 1.75. The stock has a 50-day moving average of $183.39 and a 200 day moving average of $192.27. 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 twelve month low of $160.46 and a twelve month high of $265.70.

Constellation Brands (NYSE:STZ) last announced its earnings results on Wednesday, April 9th. The company reported $2.63 earnings per share for the quarter, topping the consensus estimate of $2.28 by $0.35. Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The business had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.14 billion. During the same period in the prior year, the company posted $2.26 EPS. The business’s quarterly revenue was up 1.2% on a year-over-year basis. Sell-side analysts anticipate that Constellation Brands, Inc. will post 13.5 EPS for the current fiscal year.

Constellation Brands Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Tuesday, April 29th were given a $1.02 dividend. This represents a $4.08 annualized dividend and a dividend yield of 2.41%. The ex-dividend date was Tuesday, April 29th. This is an increase from Constellation Brands’s previous quarterly dividend of $1.01. Constellation Brands’s dividend payout ratio (DPR) is -800.00%.

Analyst Ratings Changes

Several brokerages have issued reports on STZ. Truist Financial upgraded shares of Constellation Brands from a “hold” rating to a “buy” rating and increased their target price for the stock from $190.00 to $215.00 in a report on Wednesday, May 7th. Needham & Company LLC reissued a “buy” rating and set a $215.00 price objective on shares of Constellation Brands in a report on Thursday, April 10th. The Goldman Sachs Group lowered their target price on Constellation Brands from $260.00 to $225.00 and set a “buy” rating for the company in a report on Friday, April 11th. Roth Mkm lowered their price target on shares of Constellation Brands from $284.00 to $256.00 and set a “buy” rating on the stock in a report on Thursday, April 3rd. Finally, Royal Bank of Canada reduced their price target on Constellation Brands from $289.00 to $233.00 and set an “outperform” rating on the stock in a research report on Monday, April 14th. Eleven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, Constellation Brands has a consensus rating of “Moderate Buy” and an average target price of $220.00.

Constellation Brands Profile

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.