Sit Investment Associates Inc. Sells 3,011 Shares of Constellation Brands, Inc. (NYSE:STZ)

Sit Investment Associates Inc. decreased its position in Constellation Brands, Inc. (NYSE:STZ) by 7.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 37,326 shares of the company’s stock after selling 3,011 shares during the quarter. Sit Investment Associates Inc.’s holdings in Constellation Brands were worth $8,249,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Public Sector Pension Investment Board boosted its stake in shares of Constellation Brands by 3.5% in the 3rd quarter. Public Sector Pension Investment Board now owns 5,904 shares of the company’s stock worth $1,521,000 after buying an additional 200 shares during the last quarter. Benjamin Edwards Inc. boosted its position in Constellation Brands by 206.5% in the third quarter. Benjamin Edwards Inc. now owns 4,763 shares of the company’s stock worth $1,228,000 after purchasing an additional 3,209 shares during the last quarter. Hilltop Holdings Inc. bought a new position in Constellation Brands in the 3rd quarter valued at $205,000. Royal London Asset Management Ltd. increased its position in shares of Constellation Brands by 7.1% during the 3rd quarter. Royal London Asset Management Ltd. now owns 69,100 shares of the company’s stock valued at $17,806,000 after purchasing an additional 4,570 shares during the last quarter. Finally, Quantinno Capital Management LP raised its stake in shares of Constellation Brands by 58.4% during the 3rd quarter. Quantinno Capital Management LP now owns 7,944 shares of the company’s stock worth $2,047,000 after purchasing an additional 2,928 shares during the period. 77.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. StockNews.com cut shares of Constellation Brands from a “hold” rating to a “sell” rating in a research note on Friday, March 14th. Truist Financial dropped their price objective on Constellation Brands from $255.00 to $190.00 and set a “hold” rating on the stock in a research note on Tuesday, January 14th. Evercore ISI decreased 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. Wells Fargo & Company dropped their price target on Constellation Brands from $230.00 to $210.00 and set an “overweight” rating on the stock in a research report on Wednesday. Finally, Needham & Company LLC decreased their price objective on Constellation Brands from $240.00 to $215.00 and set a “buy” rating for the company in a report on Thursday, March 27th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $244.32.

Constellation Brands Stock Down 4.2 %

STZ opened at $173.79 on Friday. 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 one year low of $160.46 and a one year high of $274.87. The firm has a market capitalization of $31.41 billion, a P/E ratio of 46.72, a price-to-earnings-growth ratio of 1.52 and a beta of 1.75. The company has a fifty day moving average price of $177.14 and a 200-day moving average price of $212.27.

Constellation Brands (NYSE:STZ) last posted its earnings results on Friday, January 10th. The company reported $3.25 EPS for the quarter, missing the consensus estimate of $3.33 by ($0.08). Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The business 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 firm earned $3.19 earnings per share. Constellation Brands’s quarterly revenue was down .3% compared to the same quarter last year. Equities research analysts expect that Constellation Brands, Inc. will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 7th were paid a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date of this dividend was Friday, February 7th. Constellation Brands’s dividend payout ratio is currently 108.60%.

Insider Buying and Selling at Constellation Brands

In related news, Director William T. Giles acquired 1,000 shares of the stock in a transaction dated Friday, January 17th. The shares were purchased at an average price of $186.39 per share, for a total transaction of $186,390.00. Following the transaction, the director now owns 1,463 shares in the company, valued at $272,688.57. This represents a 215.98 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. 12.19% of the stock is currently owned by company insiders.

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.