Constellation Brands, Inc. (NYSE:STZ) Stake Trimmed by SouthState Corp

SouthState Corp lowered its stake in Constellation Brands, Inc. (NYSE:STZ) by 7.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,857 shares of the company’s stock after selling 2,418 shares during the quarter. SouthState Corp’s holdings in Constellation Brands were worth $6,819,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analyst Ratings Changes

STZ has been the topic of several research analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $240.00 target price on shares of Constellation Brands in a research note on Monday, January 27th. Royal Bank of Canada reduced their price target on Constellation Brands from $293.00 to $289.00 and set an “outperform” rating for the company in a report on Friday, March 7th. UBS Group reduced their price target on Constellation Brands from $265.00 to $223.00 and set a “buy” rating for the company in a report on Friday, January 17th. Piper Sandler lowered Constellation Brands from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $245.00 to $200.00 in a report on Monday, February 3rd. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $201.00 price target (down from $310.00) on shares of Constellation Brands in a report on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $252.81.

Constellation Brands Stock Down 0.1 %

Shares of STZ stock opened at $181.46 on Monday. Constellation Brands, Inc. has a 12 month low of $160.46 and a 12 month high of $274.87. The firm has a market cap of $32.79 billion, a PE ratio of 48.78, a price-to-earnings-growth ratio of 1.52 and a beta of 1.75. The stock has a 50 day moving average of $180.58 and a 200-day moving average of $219.08. 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 (NYSE:STZ) last issued its quarterly earnings results on Friday, January 10th. The company reported $3.25 EPS for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $2.53 billion. During the same quarter last year, the firm earned $3.19 earnings per share. The firm’s quarterly revenue was down .3% compared to the same quarter last year. On average, equities analysts predict that Constellation Brands, Inc. will post 13.5 EPS for the current year.

Constellation Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 7th were given a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date was Friday, February 7th. Constellation Brands’s dividend payout ratio is presently 108.60%.

Insider Activity

In other news, Director William T. Giles acquired 1,000 shares of the stock in a transaction dated Friday, January 17th. The shares were acquired at an average cost of $186.39 per share, for a total transaction of $186,390.00. Following the completion of the transaction, the director now 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 legal filing with the SEC, which is accessible through the SEC website. 12.19% of the stock is currently owned by company insiders.

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.