M&T Bank Corp Sells 14,862 Shares of Constellation Brands, Inc. (NYSE:STZ)

M&T Bank Corp lessened its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 19.8% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 60,245 shares of the company’s stock after selling 14,862 shares during the period. M&T Bank Corp’s holdings in Constellation Brands were worth $13,314,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Van ECK Associates Corp raised its stake in Constellation Brands by 1,844.7% in the fourth quarter. Van ECK Associates Corp now owns 924,274 shares of the company’s stock worth $204,265,000 after buying an additional 876,745 shares in the last quarter. State Street Corp raised its stake in Constellation Brands by 6.0% in the third 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 in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Constellation Brands by 66.3% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 369,966 shares of the company’s stock worth $81,762,000 after buying an additional 147,457 shares in the last quarter. Proficio Capital Partners LLC bought a new position in Constellation Brands in the fourth quarter worth approximately $25,119,000. Finally, NFJ Investment Group LLC raised its stake in Constellation Brands by 617.3% in the third quarter. NFJ Investment Group LLC now owns 108,382 shares of the company’s stock worth $27,929,000 after buying an additional 93,273 shares in the last quarter. Institutional investors own 77.34% of the company’s stock.

Insider Buying and Selling at Constellation Brands

In other Constellation Brands news, Director William T. Giles purchased 1,000 shares of the stock in a transaction on Friday, January 17th. The shares were 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 in the company, 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 accessible through the SEC website. 12.19% of the stock is owned by corporate insiders.

Constellation Brands Price Performance

Shares of STZ opened at $174.08 on Thursday. The firm has a market capitalization of $31.46 billion, a PE ratio of 46.79, a price-to-earnings-growth ratio of 1.52 and a beta of 1.75. 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 $160.46 and a 1-year high of $274.87. The company’s fifty day moving average price is $185.90 and its 200-day moving average price is $222.14.

Constellation Brands (NYSE:STZ) last posted 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 business had revenue of $2.46 billion during the quarter, compared to analysts’ expectations of $2.53 billion. During the same period in the previous year, the company posted $3.19 earnings per share. Constellation Brands’s revenue for the quarter was down .3% compared to the same quarter last year. On average, equities research analysts predict that Constellation Brands, Inc. will post 13.5 EPS for the current year.

Constellation Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 7th were issued a $1.01 dividend. This represents a $4.04 annualized dividend and a yield of 2.32%. The ex-dividend date was Friday, February 7th. Constellation Brands’s payout ratio is 108.60%.

Analyst Ratings Changes

STZ has been the subject of a number of recent research reports. Wells Fargo & Company reduced their price objective on shares of Constellation Brands from $295.00 to $275.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Argus downgraded shares of Constellation Brands from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. BNP Paribas started coverage on shares of Constellation Brands in a research note on Monday, November 25th. They issued a “neutral” rating and a $261.00 price objective for the company. StockNews.com raised Constellation Brands from a “sell” rating to a “hold” rating in a research report on Thursday. Finally, Piper Sandler downgraded Constellation Brands from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $245.00 to $200.00 in a research report on Monday, February 3rd. Eleven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $253.43.

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.