Wilmington Savings Fund Society FSB Sells 101 Shares of Constellation Brands, Inc. (NYSE:STZ)

Wilmington Savings Fund Society FSB lessened its holdings in Constellation Brands, Inc. (NYSE:STZ) by 0.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,394 shares of the company’s stock after selling 101 shares during the period. Wilmington Savings Fund Society FSB’s holdings in Constellation Brands were worth $4,507,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Grimes & Company Inc. bought a new position in shares of Constellation Brands in the 4th quarter valued at approximately $6,099,000. Southern Style Financial Inc. acquired a new position in Constellation Brands during the fourth quarter valued at approximately $3,074,000. Paloma Partners Management Co raised its position in shares of Constellation Brands by 568.4% in the third quarter. Paloma Partners Management Co now owns 30,000 shares of the company’s stock valued at $7,731,000 after purchasing an additional 25,512 shares during the period. Nomura Asset Management Co. Ltd. lifted its stake in shares of Constellation Brands by 3.7% in the third quarter. Nomura Asset Management Co. Ltd. now owns 84,204 shares of the company’s stock worth $21,699,000 after buying an additional 2,980 shares during the last quarter. Finally, Empowered Funds LLC grew its stake in Constellation Brands by 318.8% in the 3rd quarter. Empowered Funds LLC now owns 10,184 shares of the company’s stock valued at $2,624,000 after buying an additional 7,752 shares during the last quarter. 77.34% of the stock is owned by institutional investors and hedge funds.

Constellation Brands Stock Down 1.1 %

Shares of NYSE:STZ opened at $169.05 on Friday. Constellation Brands, Inc. has a 12 month low of $166.02 and a 12 month high of $274.87. The firm has a market cap of $30.55 billion, a P/E ratio of 45.44, a P/E/G ratio of 1.51 and a beta of 0.90. 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 company’s 50-day moving average price is $208.85 and its two-hundred day moving average price is $231.37.

Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Friday, January 10th. The company reported $3.25 EPS for the quarter, missing the consensus estimate of $3.33 by ($0.08). Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. The company 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 earned $3.19 earnings per share. Constellation Brands’s revenue for the quarter was down .3% compared to the same quarter last year. As a group, research analysts forecast that Constellation Brands, Inc. will post 13.5 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Friday, February 7th will be paid a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a dividend yield of 2.39%. The ex-dividend date is Friday, February 7th. Constellation Brands’s dividend payout ratio (DPR) is presently 108.60%.

Insider Activity at Constellation Brands

In related news, CEO William A. Newlands sold 25,000 shares of the stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $243.58, for a total value of $6,089,500.00. Following the transaction, the chief executive officer now directly owns 7,274 shares in the company, valued at $1,771,800.92. This represents a 77.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director William T. Giles bought 1,000 shares of the stock in a transaction on Friday, January 17th. The shares were acquired at an average cost of $186.39 per share, with a total value of $186,390.00. Following the acquisition, the director now directly owns 1,463 shares in the company, valued at approximately $272,688.57. This trade represents a 215.98 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 61,746 shares of company stock worth $15,017,097 over the last 90 days. Insiders own 12.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on STZ. Morgan Stanley decreased their price target on shares of Constellation Brands from $280.00 to $220.00 and set an “overweight” rating for the company in a report on Monday, January 13th. Evercore ISI cut their price target on Constellation Brands from $300.00 to $250.00 and set an “outperform” rating for the company in a report on Monday, January 13th. Piper Sandler downgraded shares of Constellation Brands from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $245.00 to $200.00 in a research note on Monday, February 3rd. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $203.00 price target (down from $262.00) on shares of Constellation Brands in a report on Monday, January 13th. Finally, TD Cowen cut their price objective on shares of Constellation Brands from $270.00 to $260.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, Constellation Brands presently has an average rating of “Moderate Buy” and a consensus target price of $254.29.

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.