Corient Private Wealth LLC Has $28.51 Million Stock Position in Constellation Brands, Inc. (NYSE:STZ)

Corient Private Wealth LLC cut its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 21.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 128,985 shares of the company’s stock after selling 36,076 shares during the period. Corient Private Wealth LLC owned approximately 0.07% of Constellation Brands worth $28,506,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in STZ. Empowered Funds LLC increased its stake in Constellation Brands by 318.8% in the third quarter. Empowered Funds LLC now owns 10,184 shares of the company’s stock valued at $2,624,000 after purchasing an additional 7,752 shares in the last quarter. Mutual of America Capital Management LLC boosted its holdings in shares of Constellation Brands by 0.3% in the third quarter. Mutual of America Capital Management LLC now owns 33,223 shares of the company’s stock valued at $8,561,000 after buying an additional 100 shares during the period. Thrivent Financial for Lutherans increased its position in shares of Constellation Brands by 13.0% during the third quarter. Thrivent Financial for Lutherans now owns 7,341 shares of the company’s stock worth $1,892,000 after acquiring an additional 845 shares in the last quarter. Savoir Faire Capital Management L.P. raised its holdings in shares of Constellation Brands by 1.3% during the third quarter. Savoir Faire Capital Management L.P. now owns 30,260 shares of the company’s stock worth $7,798,000 after acquiring an additional 395 shares during the period. Finally, Aviance Capital Partners LLC raised its holdings in shares of Constellation Brands by 1.3% during the third quarter. Aviance Capital Partners LLC now owns 16,834 shares of the company’s stock worth $4,338,000 after acquiring an additional 221 shares during the period. Institutional investors own 77.34% of the company’s stock.

Constellation Brands Stock Performance

NYSE STZ opened at $179.23 on Wednesday. The stock has a market cap of $32.39 billion, a PE ratio of 48.18, a P/E/G ratio of 1.52 and a beta of 1.75. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.46 and a current ratio of 1.10. The firm has a 50-day moving average of $179.01 and a 200-day moving average of $218.27. Constellation Brands, Inc. has a 52-week low of $160.46 and a 52-week high of $274.87.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings data on Friday, January 10th. The company reported $3.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.08). The firm had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.53 billion. Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The company’s revenue was down .3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.19 EPS. On average, sell-side analysts anticipate that Constellation Brands, Inc. will post 13.5 EPS for the current year.

Constellation Brands Announces Dividend

The company 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 2.25%. The ex-dividend date was Friday, February 7th. Constellation Brands’s dividend payout ratio is currently 108.60%.

Wall Street Analysts Forecast Growth

STZ has been the subject of a number of research reports. Piper Sandler downgraded Constellation Brands from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $245.00 to $200.00 in a report on Monday, February 3rd. Jefferies Financial Group reaffirmed a “hold” rating and set a $201.00 price target (down from $310.00) on shares of Constellation Brands in a research note on Monday, January 13th. Morgan Stanley lowered shares of Constellation Brands from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $220.00 to $202.00 in a research report on Thursday, February 27th. Needham & Company LLC reaffirmed a “buy” rating and issued a $240.00 target price on shares of Constellation Brands in a research report on Monday, January 27th. Finally, Truist Financial cut their price target on shares of Constellation Brands from $255.00 to $190.00 and set a “hold” rating on the stock in a research report on Tuesday, January 14th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $252.81.

Insider Activity

In other Constellation Brands news, Director William T. Giles acquired 1,000 shares of the business’s stock in a transaction on Friday, January 17th. The stock was purchased at an average price of $186.39 per share, with a total value of $186,390.00. Following the acquisition, the director now directly owns 1,463 shares of the company’s stock, 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 Securities & Exchange Commission, which is accessible through this hyperlink. 12.19% of the stock is currently owned by company insiders.

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.