Zevenbergen Capital Investments LLC Cuts Holdings in Constellation Brands, Inc. (NYSE:STZ)

Zevenbergen Capital Investments LLC decreased its position in Constellation Brands, Inc. (NYSE:STZ) by 35.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,185 shares of the company’s stock after selling 2,275 shares during the period. Zevenbergen Capital Investments LLC’s holdings in Constellation Brands were worth $925,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of STZ. Thrivent Financial for Lutherans increased its position in shares of Constellation Brands by 13.0% during the 3rd quarter. Thrivent Financial for Lutherans now owns 7,341 shares of the company’s stock valued at $1,892,000 after purchasing an additional 845 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Constellation Brands in the third quarter worth about $815,000. King Luther Capital Management Corp raised its position in Constellation Brands by 12.4% in the third quarter. King Luther Capital Management Corp now owns 1,411 shares of the company’s stock worth $364,000 after acquiring an additional 156 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in shares of Constellation Brands by 2.4% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 43,245 shares of the company’s stock valued at $11,144,000 after acquiring an additional 1,025 shares during the period. Finally, Pacer Advisors Inc. increased its stake in shares of Constellation Brands by 31.6% during the 3rd quarter. Pacer Advisors Inc. now owns 28,882 shares of the company’s stock worth $7,443,000 after purchasing an additional 6,938 shares during the last quarter. Institutional investors own 77.34% of the company’s stock.

Insider Transactions at Constellation Brands

In related news, Director William T. Giles purchased 1,000 shares of the business’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 of the company’s stock, valued at approximately $272,688.57. This represents a 215.98 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 12.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Wells Fargo & Company dropped their price target on Constellation Brands from $295.00 to $275.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Needham & Company LLC reiterated a “buy” rating and issued a $240.00 target price on shares of Constellation Brands in a research note on Monday, January 27th. Roth Capital reduced their price objective on shares of Constellation Brands from $298.00 to $284.00 and set a “buy” rating for the company in a research note on Friday, January 17th. Piper Sandler cut 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 research report on Monday, February 3rd. Finally, Truist Financial dropped their price objective on Constellation Brands from $255.00 to $190.00 and set a “hold” rating on the stock in a report on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $250.41.

Constellation Brands Trading Down 0.6 %

Shares of STZ opened at $177.73 on Monday. Constellation Brands, Inc. has a 1-year low of $160.46 and a 1-year high of $274.87. The firm has a market capitalization of $32.12 billion, a price-to-earnings ratio of 47.78, a PEG ratio of 1.52 and a beta of 0.90. The firm’s 50-day moving average price is $177.32 and its 200-day moving average price is $216.87. The company has a current ratio of 1.10, a quick ratio of 0.46 and a debt-to-equity ratio of 1.26.

Constellation Brands (NYSE:STZ) last posted its 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 firm had revenue of $2.46 billion for the quarter, compared to analysts’ expectations of $2.53 billion. Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The firm’s revenue was down .3% on a year-over-year basis. During the same quarter last year, the company posted $3.19 EPS. Sell-side analysts anticipate that Constellation Brands, Inc. will post 13.5 EPS for the current year.

Constellation Brands Dividend Announcement

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 2.27%. The ex-dividend date 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.