Summit Financial LLC Lowers Holdings in Constellation Brands, Inc. (NYSE:STZ)

Summit Financial LLC decreased its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 5.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,153 shares of the company’s stock after selling 64 shares during the quarter. Summit Financial LLC’s holdings in Constellation Brands were worth $255,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in STZ. Van ECK Associates Corp increased its position in Constellation Brands by 1,844.7% during the 4th quarter. Van ECK Associates Corp now owns 924,274 shares of the company’s stock valued at $204,265,000 after purchasing an additional 876,745 shares during the period. Copperleaf Capital LLC purchased a new position in Constellation Brands during the fourth quarter valued at approximately $343,000. Grimes & Company Inc. bought a new position in Constellation Brands in the fourth quarter worth approximately $6,099,000. Empowered Funds LLC lifted its holdings in Constellation Brands by 62.8% during the fourth quarter. Empowered Funds LLC now owns 16,575 shares of the company’s stock worth $3,663,000 after buying an additional 6,391 shares during the period. Finally, Southern Style Financial Inc. bought a new stake in Constellation Brands during the 4th quarter valued at $3,074,000. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Constellation Brands Price Performance

Shares of NYSE:STZ opened at $173.79 on Friday. Constellation Brands, Inc. has a twelve month low of $160.46 and a twelve month high of $274.87. The company has a current ratio of 1.10, a quick ratio of 0.46 and a debt-to-equity ratio of 1.26. The company has a market cap of $31.41 billion, a PE ratio of 46.72, a price-to-earnings-growth ratio of 1.52 and a beta of 1.75. The company’s 50 day moving average is $177.14 and its 200 day moving average is $212.55.

Constellation Brands (NYSE:STZ) last released 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 business had revenue of $2.46 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.19 EPS. On average, sell-side analysts forecast that Constellation Brands, Inc. will post 13.5 EPS for the current year.

Constellation Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 7th were issued a $1.01 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $4.04 annualized dividend and a dividend yield of 2.32%. Constellation Brands’s dividend payout ratio (DPR) is presently 108.60%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. TD Cowen decreased their price objective on Constellation Brands from $270.00 to $260.00 and set a “hold” rating for the company in a research note on Wednesday, January 8th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $203.00 price target (down from $262.00) on shares of Constellation Brands in a research report on Monday, January 13th. Argus downgraded shares of Constellation Brands from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Piper Sandler lowered shares of Constellation Brands from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $245.00 to $200.00 in a research note on Monday, February 3rd. Finally, UBS Group lowered their target price on shares of Constellation Brands from $265.00 to $223.00 and set a “buy” rating for the company in a research note on Friday, January 17th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have given a buy rating to the company. According to MarketBeat, Constellation Brands currently has an average rating of “Hold” and an average target price of $244.32.

Insider Transactions at Constellation Brands

In related news, Director William T. Giles purchased 1,000 shares of the firm’s stock in a transaction on Friday, January 17th. The stock was bought at an average cost 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. The trade was a 215.98 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 12.19% of the company’s stock.

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.