Legal & General Group Plc Sells 366,569 Shares of Constellation Brands, Inc. (NYSE:STZ)

Legal & General Group Plc cut its stake in Constellation Brands, Inc. (NYSE:STZ) by 29.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 885,326 shares of the company’s stock after selling 366,569 shares during the period. Legal & General Group Plc owned 0.49% of Constellation Brands worth $195,657,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Quantinno Capital Management LP raised its stake in shares of Constellation Brands by 58.4% during the third quarter. Quantinno Capital Management LP now owns 7,944 shares of the company’s stock worth $2,047,000 after buying an additional 2,928 shares during the last quarter. EP Wealth Advisors LLC bought a new stake in shares of Constellation Brands during the third quarter worth approximately $207,000. MML Investors Services LLC raised its stake in shares of Constellation Brands by 127.1% during the third quarter. MML Investors Services LLC now owns 54,207 shares of the company’s stock worth $13,968,000 after buying an additional 30,333 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its stake in shares of Constellation Brands by 3.7% during 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, Continuum Advisory LLC raised its stake in shares of Constellation Brands by 68.0% during the third quarter. Continuum Advisory LLC now owns 252 shares of the company’s stock worth $61,000 after buying an additional 102 shares during the last quarter. 77.34% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Morgan Stanley cut shares of Constellation Brands from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $220.00 to $202.00 in a report on Thursday, February 27th. StockNews.com upgraded shares of Constellation Brands from a “sell” rating to a “hold” rating in a report on Wednesday. Piper Sandler cut 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 report on Monday, February 3rd. Jefferies Financial Group restated a “hold” rating and set a $201.00 price objective (down previously from $310.00) on shares of Constellation Brands in a report on Monday, January 13th. Finally, Roth Mkm decreased their price objective on shares of Constellation Brands from $284.00 to $256.00 and set a “buy” rating for the company in a report on Thursday, April 3rd. Twelve investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, Constellation Brands presently has an average rating of “Hold” and an average price target of $244.32.

Insiders Place Their Bets

In related news, Director William T. Giles acquired 1,000 shares of the company’s stock in a transaction dated 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 transaction, the director now directly 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 acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 12.19% of the company’s stock.

Constellation Brands Stock Performance

Shares of STZ stock opened at $183.66 on Thursday. 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 fifty day simple moving average is $176.39 and its 200-day simple moving average is $209.96. Constellation Brands, Inc. has a 12 month low of $160.46 and a 12 month high of $274.87. The firm has a market cap of $33.19 billion, a PE ratio of 49.37, a P/E/G ratio of 1.52 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings results on Wednesday, April 9th. The company reported $2.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.28 by $0.35. Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. The firm had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.14 billion. During the same period in the prior year, the firm posted $2.26 earnings per share. The company’s quarterly revenue was up 1.2% compared to the same quarter last year. Equities research analysts expect that Constellation Brands, Inc. will post 13.5 EPS for the current fiscal year.

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.