AMI Asset Management Corp Sells 6,128 Shares of Constellation Brands, Inc. (NYSE:STZ)

AMI Asset Management Corp cut its position in Constellation Brands, Inc. (NYSE:STZ) by 3.7% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 160,399 shares of the company’s stock after selling 6,128 shares during the quarter. Constellation Brands accounts for 1.9% of AMI Asset Management Corp’s investment portfolio, making the stock its 25th largest holding. AMI Asset Management Corp’s holdings in Constellation Brands were worth $35,448,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. State Street Corp boosted its holdings in shares of Constellation Brands by 6.0% in the 3rd quarter. State Street Corp now owns 7,144,428 shares of the company’s stock worth $1,841,048,000 after acquiring an additional 402,211 shares in the last quarter. Janus Henderson Group PLC raised its position in Constellation Brands by 1.2% in the 3rd quarter. Janus Henderson Group PLC now owns 1,853,081 shares of the company’s stock valued at $477,515,000 after purchasing an additional 21,454 shares during the last quarter. Legal & General Group Plc boosted its stake in Constellation Brands by 5.7% in the second quarter. Legal & General Group Plc now owns 1,335,976 shares of the company’s stock worth $343,717,000 after purchasing an additional 72,637 shares in the last quarter. International Assets Investment Management LLC grew its holdings in shares of Constellation Brands by 23,184.7% during the third quarter. International Assets Investment Management LLC now owns 499,689 shares of the company’s stock worth $128,765,000 after purchasing an additional 497,543 shares during the last quarter. Finally, National Pension Service increased its stake in shares of Constellation Brands by 13.6% in the third quarter. National Pension Service now owns 381,755 shares of the company’s stock valued at $98,374,000 after buying an additional 45,707 shares in the last quarter. 77.34% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

STZ has been the topic of a number of research analyst reports. Bank of America reissued a “neutral” rating and set a $255.00 price objective (down previously from $300.00) on shares of Constellation Brands in a report on Monday, October 7th. TD Cowen reduced their price objective on Constellation Brands from $270.00 to $260.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. BMO Capital Markets cut their price target on Constellation Brands from $315.00 to $305.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 15th. Piper Sandler lowered their price objective on Constellation Brands from $300.00 to $245.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. Finally, Wells Fargo & Company cut their target price on shares of Constellation Brands from $295.00 to $275.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $259.05.

Constellation Brands Stock Performance

Shares of STZ stock opened at $184.05 on Tuesday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.46 and a current ratio of 1.10. Constellation Brands, Inc. has a 52 week low of $176.51 and a 52 week high of $274.87. The company’s 50 day moving average price is $225.70 and its two-hundred day moving average price is $238.27. The company has a market capitalization of $33.26 billion, a P/E ratio of 49.48, a price-to-earnings-growth ratio of 1.62 and a beta of 0.91.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings data on Friday, January 10th. The company reported $3.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.33 by ($0.08). The company had revenue of $2.46 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the prior year, the company earned $3.19 EPS. On average, analysts expect that Constellation Brands, Inc. will post 13.52 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Friday, February 7th will be issued a dividend of $1.01 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 2.20%. Constellation Brands’s payout ratio is presently 108.60%.

Insider Activity at Constellation Brands

In related news, major shareholder Wildstar Partners Llc sold 660 shares of the company’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $241.00, for a total transaction of $159,060.00. Following the sale, the insider now owns 1,736,884 shares in the company, valued at approximately $418,589,044. This represents a 0.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO William A. Newlands sold 7,426 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $237.24, for a total value of $1,761,744.24. Following the completion of the transaction, the chief executive officer now owns 7,274 shares of the company’s stock, valued at approximately $1,725,683.76. This represents a 50.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 69,172 shares of company stock valued at $16,778,841. 12.19% of the stock is owned by 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.