Rhumbline Advisers Trims Holdings in Constellation Brands, Inc. (NYSE:STZ)

Rhumbline Advisers reduced its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 0.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 305,104 shares of the company’s stock after selling 963 shares during the quarter. Rhumbline Advisers owned 0.17% of Constellation Brands worth $67,428,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of STZ. Exchange Traded Concepts LLC raised its position in Constellation Brands by 751.1% during the third quarter. Exchange Traded Concepts LLC now owns 1,200 shares of the company’s stock valued at $309,000 after acquiring an additional 1,059 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Constellation Brands by 1.9% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 17,116 shares of the company’s stock valued at $4,411,000 after acquiring an additional 317 shares in the last quarter. V Square Quantitative Management LLC raised its position in Constellation Brands by 48.5% during the third quarter. V Square Quantitative Management LLC now owns 1,172 shares of the company’s stock valued at $302,000 after acquiring an additional 383 shares in the last quarter. Stonegate Investment Group LLC purchased a new position in Constellation Brands during the third quarter valued at approximately $291,000. Finally, Stratos Wealth Advisors LLC raised its position in Constellation Brands by 6.4% during the third quarter. Stratos Wealth Advisors LLC now owns 2,913 shares of the company’s stock valued at $751,000 after acquiring an additional 175 shares in the last quarter. 77.34% of the stock is currently owned by hedge funds and other institutional investors.

Constellation Brands Stock Performance

NYSE STZ opened at $162.69 on Monday. The stock’s fifty day moving average is $201.35 and its two-hundred day moving average is $228.31. The firm has a market capitalization of $29.40 billion, a P/E ratio of 43.73, a price-to-earnings-growth ratio of 1.51 and a beta of 0.90. 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 fifty-two week low of $160.46 and a fifty-two week high of $274.87.

Constellation Brands (NYSE:STZ) last released its quarterly earnings data 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). The company had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.53 billion. Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The business’s quarterly revenue was down .3% on a year-over-year basis. During the same period last year, the firm posted $3.19 EPS. On average, research analysts anticipate that Constellation Brands, Inc. will post 13.5 earnings per share for the current year.

Constellation Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Friday, February 7th will be paid a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 2.48%. The ex-dividend date is Friday, February 7th. Constellation Brands’s dividend payout ratio (DPR) is presently 108.60%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on STZ. Truist Financial reduced their price target on Constellation Brands from $255.00 to $190.00 and set a “hold” rating for the company in a research report on Tuesday, January 14th. TD Cowen cut their price objective on Constellation Brands from $270.00 to $260.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. Needham & Company LLC restated a “buy” rating and issued a $240.00 price objective on shares of Constellation Brands in a research report on Monday, January 27th. Piper Sandler cut Constellation Brands from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $245.00 to $200.00 in a research report on Monday, February 3rd. Finally, BNP Paribas began coverage on Constellation Brands in a research report on Monday, November 25th. They issued a “neutral” rating and a $261.00 price objective for the company. Ten research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $254.29.

Insider Activity

In other news, major shareholder Wildstar Partners Llc sold 660 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $241.00, for a total value of $159,060.00. Following the transaction, the insider now owns 1,736,884 shares of the company’s stock, valued at $418,589,044. This represents a 0.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director William T. Giles purchased 1,000 shares of the firm’s stock in a transaction dated 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 purchase, the director now owns 1,463 shares in the company, valued at approximately $272,688.57. The trade was a 215.98 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 12.19% of the company’s stock.

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.