Geode Capital Management LLC Has $705.84 Million Holdings in Constellation Brands, Inc. (NYSE:STZ)

Geode Capital Management LLC raised its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 2.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 3,204,003 shares of the company’s stock after purchasing an additional 63,323 shares during the period. Geode Capital Management LLC owned approximately 1.77% of Constellation Brands worth $705,844,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in STZ. National Bank of Canada FI raised its position in Constellation Brands by 14.5% in the 4th quarter. National Bank of Canada FI now owns 89,573 shares of the company’s stock valued at $19,799,000 after buying an additional 11,368 shares during the last quarter. HighPoint Advisor Group LLC boosted its holdings in Constellation Brands by 2.7% during the 4th quarter. HighPoint Advisor Group LLC now owns 5,802 shares of the company’s stock worth $1,282,000 after acquiring an additional 153 shares during the last quarter. Edmond DE Rothschild Holding S.A. grew its stake in shares of Constellation Brands by 5.3% in the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 23,368 shares of the company’s stock worth $5,164,000 after acquiring an additional 1,168 shares in the last quarter. Clearbridge Investments LLC raised its holdings in shares of Constellation Brands by 3.1% in the fourth quarter. Clearbridge Investments LLC now owns 742,458 shares of the company’s stock valued at $164,083,000 after purchasing an additional 22,471 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new position in shares of Constellation Brands during the fourth quarter valued at about $4,180,000. 77.34% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Constellation Brands news, Director William T. Giles acquired 1,000 shares of the business’s stock in a transaction dated Friday, January 17th. The stock was bought at an average price of $186.39 per share, with a total value of $186,390.00. Following the completion of the acquisition, the director now owns 1,463 shares of the company’s stock, valued at $272,688.57. This trade represents a 215.98 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 12.19% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on STZ. Piper Sandler lowered shares of Constellation Brands from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $245.00 to $200.00 in a research note on Monday, February 3rd. Barclays decreased their price target on Constellation Brands from $205.00 to $203.00 and set an “overweight” rating for the company in a research report on Thursday, March 27th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $203.00 price objective (down previously from $262.00) on shares of Constellation Brands in a research report on Monday, January 13th. Wells Fargo & Company decreased their target price on Constellation Brands from $230.00 to $210.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, Royal Bank of Canada lowered their target price on Constellation Brands from $293.00 to $289.00 and set an “outperform” rating on the stock in a research note on Friday, March 7th. 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. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $246.23.

Constellation Brands Trading Down 1.2 %

Shares of STZ opened at $182.62 on Thursday. Constellation Brands, Inc. has a twelve month low of $160.46 and a twelve month high of $274.87. The stock has a market cap of $33.00 billion, a PE ratio of 49.09, a P/E/G ratio of 1.52 and a beta of 1.75. The company has a quick ratio of 0.46, a current ratio of 1.10 and a debt-to-equity ratio of 1.26. The business’s 50-day moving average price is $177.29 and its 200-day moving average price is $213.33.

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). Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The firm had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.53 billion. During the same period last year, the company posted $3.19 EPS. The business’s revenue was down .3% on a year-over-year basis. On average, equities analysts forecast that Constellation Brands, Inc. will post 13.5 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 7th were given a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 2.21%. The ex-dividend date of this dividend was Friday, February 7th. Constellation Brands’s payout ratio is 108.60%.

Constellation Brands Company 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.