Hoertkorn Richard Charles Has $580,000 Stock Position in Constellation Brands, Inc. (NYSE:STZ)

Hoertkorn Richard Charles cut its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 34.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,625 shares of the company’s stock after selling 1,375 shares during the period. Hoertkorn Richard Charles’ holdings in Constellation Brands were worth $580,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the stock. Norges Bank acquired a new position in Constellation Brands in the 4th quarter valued at $445,883,000. Vanguard Group Inc. increased its holdings in Constellation Brands by 13.3% in the 4th quarter. Vanguard Group Inc. now owns 15,534,787 shares of the company’s stock valued at $3,433,188,000 after buying an additional 1,821,969 shares during the period. Van ECK Associates Corp lifted its holdings in shares of Constellation Brands by 1,844.7% during the 4th quarter. Van ECK Associates Corp now owns 924,274 shares of the company’s stock worth $204,265,000 after acquiring an additional 876,745 shares during the period. Raymond James Financial Inc. bought a new position in Constellation Brands in the fourth quarter valued at approximately $105,766,000. Finally, State Street Corp lifted its position in shares of Constellation Brands by 6.0% during the 3rd quarter. State Street Corp now owns 7,144,428 shares of the company’s stock worth $1,841,048,000 after buying an additional 402,211 shares during the last quarter. 77.34% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have commented on STZ. Roth Capital cut their target price on Constellation Brands from $298.00 to $284.00 and set a “buy” rating on the stock in a report on Friday, January 17th. TD Cowen cut their price objective on Constellation Brands from $270.00 to $260.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. Evercore ISI reduced their target price on shares of Constellation Brands from $300.00 to $250.00 and set an “outperform” rating for the company in a research report on Monday, January 13th. Piper Sandler downgraded shares of Constellation Brands from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $245.00 to $200.00 in a research note on Monday, February 3rd. Finally, Barclays dropped their price objective on Constellation Brands from $205.00 to $203.00 and set an “overweight” rating on the stock in a report on Thursday. One analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Constellation Brands currently has a consensus rating of “Hold” and an average target price of $249.18.

Insider Buying and Selling at Constellation Brands

In other Constellation Brands news, Director William T. Giles bought 1,000 shares of the company’s stock in a transaction on Friday, January 17th. The stock was purchased at an average cost of $186.39 per share, for a total transaction of $186,390.00. Following the acquisition, the director now owns 1,463 shares of the company’s stock, valued at $272,688.57. The trade was a 215.98 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. 12.19% of the stock is currently owned by corporate insiders.

Constellation Brands Stock Up 0.1 %

STZ stock opened at $184.35 on Friday. The stock has a market cap of $33.32 billion, a P/E ratio of 49.56, a PEG 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. Constellation Brands, Inc. has a twelve month low of $160.46 and a twelve month high of $274.87. The company’s 50 day moving average is $177.20 and its two-hundred day moving average is $215.45.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $2.53 billion. Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. Constellation Brands’s quarterly revenue was down .3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.19 EPS. Research analysts expect that Constellation Brands, Inc. will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 7th were given a dividend of $1.01 per share. The ex-dividend date was Friday, February 7th. This represents a $4.04 annualized dividend and a yield of 2.19%. Constellation Brands’s payout ratio is currently 108.60%.

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.