Wells Fargo & Company MN Sells 54,999 Shares of Constellation Brands, Inc. (NYSE:STZ)

Wells Fargo & Company MN lowered its holdings in Constellation Brands, Inc. (NYSE:STZ) by 6.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 744,181 shares of the company’s stock after selling 54,999 shares during the period. Wells Fargo & Company MN’s holdings in Constellation Brands were worth $164,464,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Mainstream Capital Management LLC purchased a new stake in Constellation Brands in the fourth quarter valued at approximately $25,000. SBI Securities Co. Ltd. bought a new position in Constellation Brands in the fourth quarter valued at $26,000. Compagnie Lombard Odier SCmA purchased a new stake in Constellation Brands during the fourth quarter valued at about $27,000. Union Bancaire Privee UBP SA bought a new stake in Constellation Brands during the fourth quarter worth about $28,000. Finally, Versant Capital Management Inc boosted its holdings in shares of Constellation Brands by 887.5% in the 4th quarter. Versant Capital Management Inc now owns 158 shares of the company’s stock worth $35,000 after purchasing an additional 142 shares in the last quarter. Institutional investors own 77.34% of the company’s stock.

Constellation Brands Stock Down 4.2 %

Shares of Constellation Brands stock opened at $173.79 on Friday. Constellation Brands, Inc. has a 1 year low of $160.46 and a 1 year high of $274.87. The firm has a market cap of $31.41 billion, a price-to-earnings ratio of 46.72, a PEG ratio of 1.52 and a beta of 1.75. The company has a 50-day moving average of $177.14 and a 200 day moving average of $212.27. 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 (NYSE:STZ) last announced 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 net margin of 6.27% and a return on equity of 26.55%. The business had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.53 billion. During the same period in the prior year, the business posted $3.19 EPS. Constellation Brands’s revenue for the quarter was down .3% on a year-over-year basis. As a group, sell-side analysts anticipate that Constellation Brands, Inc. will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Piper Sandler downgraded Constellation Brands from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $245.00 to $200.00 in a research report on Monday, February 3rd. StockNews.com lowered shares of Constellation Brands from a “hold” rating to a “sell” rating in a report on Friday, March 14th. Wells Fargo & Company reduced 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 Mkm lowered their price target on shares of Constellation Brands from $284.00 to $256.00 and set a “buy” rating for the company in a research note on Thursday. Finally, Evercore ISI reduced their price objective on Constellation Brands from $300.00 to $250.00 and set an “outperform” rating on the stock in a research note on Monday, January 13th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $244.32.

Insider Transactions at Constellation Brands

In other news, Director William T. Giles purchased 1,000 shares of the company’s stock in a transaction that occurred on Friday, January 17th. The shares were bought at an average price of $186.39 per share, for a total transaction of $186,390.00. Following the purchase, the director now directly owns 1,463 shares in the company, valued at approximately $272,688.57. This trade represents a 215.98 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 12.19% of the company’s stock.

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.