Crestwood Advisors Group LLC Sells 5,438 Shares of Constellation Brands, Inc. (NYSE:STZ)

Crestwood Advisors Group LLC decreased its holdings in Constellation Brands, Inc. (NYSE:STZ) by 4.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 129,219 shares of the company’s stock after selling 5,438 shares during the quarter. Crestwood Advisors Group LLC’s holdings in Constellation Brands were worth $28,557,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in STZ. State Street Corp boosted its stake in Constellation Brands by 6.0% in the 3rd quarter. State Street Corp now owns 7,144,428 shares of the company’s stock worth $1,841,048,000 after purchasing an additional 402,211 shares during the period. Janus Henderson Group PLC boosted its position in shares of Constellation Brands by 1.2% during the third quarter. Janus Henderson Group PLC now owns 1,853,081 shares of the company’s stock worth $477,515,000 after acquiring an additional 21,454 shares during the last quarter. Van ECK Associates Corp boosted its position 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 last quarter. National Pension Service boosted its position in shares of Constellation Brands by 13.6% during the third quarter. National Pension Service now owns 381,755 shares of the company’s stock worth $98,374,000 after acquiring an additional 45,707 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its position in shares of Constellation Brands by 66.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 369,966 shares of the company’s stock worth $81,762,000 after acquiring an additional 147,457 shares during the last quarter. Institutional investors own 77.34% of the company’s stock.

Insider Buying and Selling at Constellation Brands

In other news, Director William T. Giles purchased 1,000 shares of the stock in a transaction that occurred on Friday, January 17th. The stock was purchased at an average price of $186.39 per share, for a total transaction of $186,390.00. Following the completion of the acquisition, the director now owns 1,463 shares of the company’s stock, valued at approximately $272,688.57. This trade represents a 215.98 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 12.19% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have commented on STZ. Piper Sandler downgraded shares of Constellation Brands from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $245.00 to $200.00 in a report on Monday, February 3rd. Barclays dropped their price target on Constellation Brands from $282.00 to $214.00 and set an “overweight” rating for the company in a research note on Tuesday, January 14th. Argus lowered Constellation Brands from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $203.00 target price (down from $262.00) on shares of Constellation Brands in a research report on Monday, January 13th. Finally, Evercore ISI lowered their target price on Constellation Brands from $300.00 to $250.00 and set an “outperform” rating for the company in a research report on Monday, January 13th. Ten investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $254.29.

Constellation Brands Stock Up 2.1 %

Shares of NYSE:STZ opened at $176.00 on Monday. The business has a 50 day simple moving average of $194.29 and a two-hundred day simple moving average of $225.71. Constellation Brands, Inc. has a 1 year low of $160.46 and a 1 year high of $274.87. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.10 and a quick ratio of 0.46. The firm has a market capitalization of $31.81 billion, a PE ratio of 47.31, a price-to-earnings-growth ratio of 1.52 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings data on Friday, January 10th. The company reported $3.25 earnings per share (EPS) 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 analysts’ expectations of $2.53 billion. Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. Constellation Brands’s revenue was down .3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.19 EPS. On average, equities analysts predict that Constellation Brands, Inc. will post 13.5 EPS for the current year.

Constellation Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 7th were given a $1.01 dividend. The ex-dividend date was Friday, February 7th. This represents a $4.04 annualized dividend and a yield of 2.30%. Constellation Brands’s dividend payout ratio (DPR) is 108.60%.

Constellation Brands Company 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.