Coerente Capital Management Grows Position in Constellation Brands, Inc. (NYSE:STZ)

Coerente Capital Management raised its position in Constellation Brands, Inc. (NYSE:STZ) by 0.8% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 90,336 shares of the company’s stock after purchasing an additional 690 shares during the period. Constellation Brands comprises approximately 3.7% of Coerente Capital Management’s holdings, making the stock its 13th largest position. Coerente Capital Management’s holdings in Constellation Brands were worth $19,964,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of STZ. Truist Financial Corp grew its position in Constellation Brands by 55.1% during the 2nd quarter. Truist Financial Corp now owns 56,904 shares of the company’s stock worth $14,640,000 after purchasing an additional 20,209 shares during the last quarter. Cetera Investment Advisers boosted its stake in shares of Constellation Brands by 9.4% during the second quarter. Cetera Investment Advisers now owns 44,541 shares of the company’s stock worth $11,460,000 after buying an additional 3,825 shares during the period. Anchor Investment Management LLC grew its holdings in shares of Constellation Brands by 3.1% during the second quarter. Anchor Investment Management LLC now owns 2,548 shares of the company’s stock worth $656,000 after buying an additional 76 shares during the last quarter. Czech National Bank increased its position in Constellation Brands by 4.0% in the 3rd quarter. Czech National Bank now owns 31,918 shares of the company’s stock valued at $8,225,000 after acquiring an additional 1,239 shares during the period. Finally, Park Avenue Securities LLC raised its stake in Constellation Brands by 23.3% during the 3rd quarter. Park Avenue Securities LLC now owns 4,362 shares of the company’s stock valued at $1,124,000 after acquiring an additional 824 shares during the last quarter. 77.34% of the stock is owned by institutional investors and hedge funds.

Constellation Brands Stock Performance

NYSE STZ opened at $180.87 on Friday. The company has a quick ratio of 0.46, a current ratio of 1.10 and a debt-to-equity ratio of 1.26. Constellation Brands, Inc. has a fifty-two week low of $176.51 and a fifty-two week high of $274.87. The business has a fifty day moving average of $215.42 and a 200-day moving average of $233.96. The stock has a market cap of $32.69 billion, a price-to-earnings ratio of 48.62, a price-to-earnings-growth ratio of 1.60 and a beta of 0.91.

Constellation Brands (NYSE:STZ) last announced its quarterly 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). The company had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.53 billion. Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. The firm’s revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter last year, the business earned $3.19 EPS. As a group, analysts predict that Constellation Brands, Inc. will post 13.52 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Friday, February 7th will be given a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 2.23%. The ex-dividend date is Friday, February 7th. Constellation Brands’s payout ratio is currently 108.60%.

Insider Buying and Selling

In other news, EVP James A. Jr. Sabia sold 36,086 shares of Constellation Brands stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $242.99, for a total transaction of $8,768,537.14. Following the sale, the executive vice president now owns 16,042 shares in the company, valued at $3,898,045.58. This trade represents a 69.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Wildstar Partners Llc sold 660 shares of the business’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $241.00, for a total transaction of $159,060.00. Following the transaction, the insider now directly owns 1,736,884 shares in the company, valued at approximately $418,589,044. The trade was a 0.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 61,746 shares of company stock valued at $15,017,097. Company insiders own 12.19% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $203.00 target price (down from $262.00) on shares of Constellation Brands in a research note on Monday, January 13th. Piper Sandler cut their price target on shares of Constellation Brands from $300.00 to $245.00 and set an “overweight” rating for the company in a report on Monday, January 13th. Roth Mkm reaffirmed a “buy” rating and issued a $298.00 price objective on shares of Constellation Brands in a report on Friday, October 4th. StockNews.com downgraded Constellation Brands from a “hold” rating to a “sell” rating in a research note on Tuesday. Finally, Evercore ISI decreased their price target 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 equities research analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $257.14.

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.