Bradley Foster & Sargent Inc. CT Trims Stock Position in Constellation Brands, Inc. (NYSE:STZ)

Bradley Foster & Sargent Inc. CT decreased its holdings in Constellation Brands, Inc. (NYSE:STZ) by 57.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 113,256 shares of the company’s stock after selling 154,424 shares during the quarter. Bradley Foster & Sargent Inc. CT owned 0.06% of Constellation Brands worth $25,030,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Blue Trust Inc. grew its holdings in Constellation Brands by 181.3% during the 3rd quarter. Blue Trust Inc. now owns 1,021 shares of the company’s stock valued at $263,000 after buying an additional 658 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Constellation Brands by 17.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 12,361 shares of the company’s stock valued at $3,185,000 after acquiring an additional 1,833 shares during the last quarter. Sequoia Financial Advisors LLC boosted its holdings in shares of Constellation Brands by 13.1% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 4,961 shares of the company’s stock worth $1,278,000 after purchasing an additional 573 shares during the period. Eastern Bank bought a new stake in Constellation Brands in the third quarter worth $39,000. Finally, Courier Capital LLC lifted its holdings in shares of Constellation Brands by 7.1% in the 3rd quarter. Courier Capital LLC now owns 894 shares of the company’s stock worth $230,000 after acquiring an additional 59 shares during the last quarter. 77.34% of the stock is currently owned by institutional investors.

Constellation Brands Stock Performance

NYSE:STZ opened at $172.25 on Friday. The company has a 50 day moving average price of $195.56 and a 200 day moving average price of $226.30. Constellation Brands, Inc. has a fifty-two week low of $160.46 and a fifty-two week high of $274.87. The stock has a market capitalization of $31.13 billion, a P/E ratio of 46.30, a PEG ratio of 1.52 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 (NYSE:STZ) last announced its earnings results on Friday, January 10th. The company reported $3.25 earnings per share 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 period in the previous year, the company earned $3.19 earnings per share. Constellation Brands’s quarterly revenue was down .3% on a year-over-year basis. Equities research analysts forecast that Constellation Brands, Inc. will post 13.5 EPS for the current year.

Constellation Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Friday, February 7th will be paid a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 2.35%. The ex-dividend date of this dividend is Friday, February 7th. Constellation Brands’s payout ratio is 108.60%.

Insider Activity

In other Constellation Brands news, Director William T. Giles bought 1,000 shares of the firm’s stock in a transaction dated Friday, January 17th. The stock was acquired at an average price of $186.39 per share, for a total transaction of $186,390.00. Following the completion of the purchase, the director now owns 1,463 shares of the company’s stock, valued at approximately $272,688.57. This represents a 215.98 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 12.19% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the company. JPMorgan Chase & Co. restated a “neutral” rating and set a $203.00 target price (down previously from $262.00) on shares of Constellation Brands in a research report on Monday, January 13th. Jefferies Financial Group reaffirmed a “hold” rating and set a $201.00 target price (down from $310.00) on shares of Constellation Brands in a research report on Monday, January 13th. Wells Fargo & Company dropped their price objective on Constellation Brands from $295.00 to $275.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. TD Cowen lowered their target price on Constellation Brands from $270.00 to $260.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. Finally, Piper Sandler lowered Constellation Brands from an “overweight” rating to a “neutral” rating and cut their price target for the company from $245.00 to $200.00 in a research note on Monday, February 3rd. Ten research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, Constellation Brands presently has an average rating of “Moderate Buy” and a consensus price target of $254.29.

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.