Atlantic Union Bankshares Corp Sells 2,040 Shares of Constellation Brands, Inc. (NYSE:STZ)

Atlantic Union Bankshares Corp reduced its position in Constellation Brands, Inc. (NYSE:STZ) by 19.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,678 shares of the company’s stock after selling 2,040 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in Constellation Brands were worth $1,918,000 as of its most recent filing with the SEC.

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

Insider Activity

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. Company insiders own 12.19% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on STZ shares. UBS Group cut their target price on shares of Constellation Brands from $265.00 to $223.00 and set a “buy” rating on the stock in a research note on Friday, January 17th. StockNews.com raised shares of Constellation Brands from a “sell” rating to a “hold” rating in a research note on Thursday. Argus lowered shares of Constellation Brands from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. TD Cowen cut their target price on shares of Constellation Brands from $270.00 to $260.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Finally, BNP Paribas started coverage on shares of Constellation Brands in a research note on Monday, November 25th. They set a “neutral” rating and a $261.00 target price on the stock. Eleven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $253.24.

Constellation Brands Price Performance

STZ stock opened at $186.64 on Friday. Constellation Brands, Inc. has a 12 month low of $160.46 and a 12 month high of $274.87. The firm has a market capitalization of $33.73 billion, a P/E ratio of 50.17, a price-to-earnings-growth ratio of 1.52 and a beta of 1.75. The company has a current ratio of 1.10, a quick ratio of 0.46 and a debt-to-equity ratio of 1.26. The firm has a 50 day moving average of $184.27 and a 200-day moving average of $221.29.

Constellation Brands (NYSE:STZ) last posted its quarterly 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 period last year, the business posted $3.19 earnings per share. The company’s revenue was down .3% compared to the same quarter last year. As a group, sell-side analysts predict that Constellation Brands, Inc. will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 7th were issued a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date of this dividend was Friday, February 7th. Constellation Brands’s dividend payout ratio (DPR) is presently 108.60%.

Constellation Brands 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.