Wellington Shields Capital Management LLC Sells 800 Shares of Constellation Brands, Inc. (NYSE:STZ)

Wellington Shields Capital Management LLC lowered its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 25.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,375 shares of the company’s stock after selling 800 shares during the quarter. Wellington Shields Capital Management LLC’s holdings in Constellation Brands were worth $525,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Madison Investment Advisors LLC purchased a new position in Constellation Brands in the fourth quarter worth about $9,591,000. Tredje AP fonden lifted its stake in shares of Constellation Brands by 51.7% in the 4th quarter. Tredje AP fonden now owns 134,376 shares of the company’s stock valued at $29,697,000 after purchasing an additional 45,800 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Constellation Brands by 8.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,216 shares of the company’s stock worth $490,000 after purchasing an additional 169 shares during the period. Sequoia Financial Advisors LLC increased its position in shares of Constellation Brands by 13.2% during the 4th quarter. Sequoia Financial Advisors LLC now owns 5,615 shares of the company’s stock valued at $1,241,000 after purchasing an additional 654 shares during the last quarter. Finally, PFG Advisors raised its holdings in Constellation Brands by 12.4% during the 4th quarter. PFG Advisors now owns 1,882 shares of the company’s stock valued at $416,000 after buying an additional 208 shares during the period. 77.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. UBS Group dropped their price objective on shares of Constellation Brands from $265.00 to $223.00 and set a “buy” rating for the company in a research note on Friday, January 17th. Truist Financial cut their price target on shares of Constellation Brands from $255.00 to $190.00 and set a “hold” rating on the stock in a report on Tuesday, January 14th. Piper Sandler downgraded shares of Constellation Brands from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $245.00 to $200.00 in a research note on Monday, February 3rd. BNP Paribas began coverage on Constellation Brands in a research note on Monday, November 25th. They set a “neutral” rating and a $261.00 target price on the stock. Finally, Morgan Stanley lowered Constellation Brands from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $220.00 to $202.00 in a research note on Thursday, February 27th. One analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Constellation Brands presently has a consensus rating of “Hold” and a consensus target price of $252.81.

Constellation Brands Trading Down 0.1 %

STZ opened at $181.46 on Friday. The company has a current ratio of 1.10, a quick ratio of 0.46 and a debt-to-equity ratio of 1.26. The firm has a market cap of $32.79 billion, a price-to-earnings ratio of 48.78, a PEG ratio of 1.52 and a beta of 1.75. Constellation Brands, Inc. has a 12 month low of $160.46 and a 12 month high of $274.87. The stock has a fifty day moving average price of $180.58 and a 200-day moving average price of $219.38.

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 firm had revenue of $2.46 billion for 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. The business’s quarterly revenue was down .3% compared to the same quarter last year. As a group, equities research analysts anticipate that Constellation Brands, Inc. will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 7th were given a $1.01 dividend. The ex-dividend date was Friday, February 7th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 2.23%. Constellation Brands’s payout ratio is 108.60%.

Insider Buying and Selling

In other Constellation Brands news, Director William T. Giles purchased 1,000 shares of the stock in a transaction on Friday, January 17th. The stock was acquired at an average price 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. The trade was a 215.98 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 12.19% of the stock is owned by company insiders.

Constellation Brands 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.