Constellation Brands, Inc. (NYSE:STZ) Shares Sold by Parsons Capital Management Inc. RI

Parsons Capital Management Inc. RI trimmed its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 6.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,057 shares of the company’s stock after selling 225 shares during the period. Parsons Capital Management Inc. RI’s holdings in Constellation Brands were worth $676,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Public Sector Pension Investment Board boosted its position in Constellation Brands by 78.3% during the second quarter. Public Sector Pension Investment Board now owns 5,704 shares of the company’s stock worth $1,468,000 after purchasing an additional 2,504 shares in the last quarter. AXA S.A. boosted its position in shares of Constellation Brands by 54.2% in the 2nd quarter. AXA S.A. now owns 2,146 shares of the company’s stock worth $552,000 after buying an additional 754 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in Constellation Brands in the 2nd quarter valued at about $1,106,000. Creative Planning increased its holdings in Constellation Brands by 2.2% during the 2nd quarter. Creative Planning now owns 53,487 shares of the company’s stock valued at $13,761,000 after acquiring an additional 1,162 shares in the last quarter. Finally, Truist Financial Corp raised its position in Constellation Brands by 55.1% during the second quarter. Truist Financial Corp now owns 56,904 shares of the company’s stock worth $14,640,000 after acquiring an additional 20,209 shares during the last quarter. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Constellation Brands Stock Performance

NYSE STZ opened at $183.16 on Wednesday. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.10 and a quick ratio of 0.46. Constellation Brands, Inc. has a 1-year low of $176.51 and a 1-year high of $274.87. The firm has a market capitalization of $33.10 billion, a P/E ratio of 49.24, a P/E/G ratio of 1.58 and a beta of 0.91. The business’s 50-day simple moving average is $220.02 and its 200-day simple moving average is $235.70.

Constellation Brands (NYSE:STZ) last announced its quarterly 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 net margin of 6.27% and a return on equity of 26.55%. The business had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.53 billion. During the same period last year, the firm earned $3.19 earnings per share. The company’s quarterly revenue was down .3% on a year-over-year basis. Equities analysts predict that Constellation Brands, Inc. will post 13.52 EPS for the current year.

Constellation Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Friday, February 7th will be issued a $1.01 dividend. The ex-dividend date is Friday, February 7th. This represents a $4.04 annualized dividend and a yield of 2.21%. Constellation Brands’s dividend payout ratio is currently 108.60%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Truist Financial dropped their price objective on shares of Constellation Brands from $255.00 to $190.00 and set a “hold” rating for the company in a research note on Tuesday, January 14th. BMO Capital Markets dropped their price target on Constellation Brands from $315.00 to $305.00 and set an “outperform” rating for the company in a research report on Tuesday, October 15th. Needham & Company LLC restated a “buy” rating and issued a $240.00 price objective on shares of Constellation Brands in a research report on Monday. Morgan Stanley dropped their price objective on Constellation Brands from $280.00 to $220.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. Finally, Roth Mkm reissued a “buy” rating and issued a $298.00 target price on shares of Constellation Brands in a research note on Friday, October 4th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $257.14.

Insider Buying and Selling at Constellation Brands

In other Constellation Brands news, major shareholder Wildstar Partners Llc sold 660 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $241.00, for a total value of $159,060.00. Following the completion of the transaction, the insider now owns 1,736,884 shares in the company, valued at $418,589,044. This represents a 0.04 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William T. Giles acquired 1,000 shares of the company’s stock in a transaction dated Friday, January 17th. The shares were purchased 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 trade represents a 215.98 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 61,746 shares of company stock valued at $15,017,097 over the last three months. 12.19% of the stock is owned by company insiders.

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.