Constellation Brands, Inc. (NYSE:STZ) Position Trimmed by Parallel Advisors LLC

Parallel Advisors LLC trimmed its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 0.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 16,922 shares of the company’s stock after selling 115 shares during the period. Parallel Advisors LLC’s holdings in Constellation Brands were worth $3,740,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Van ECK Associates Corp grew its position in Constellation Brands by 1,844.7% during the 4th quarter. Van ECK Associates Corp now owns 924,274 shares of the company’s stock worth $204,265,000 after purchasing an additional 876,745 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Constellation Brands during the 4th quarter worth approximately $105,766,000. State Street Corp grew its position in Constellation Brands by 6.0% during the 3rd quarter. State Street Corp now owns 7,144,428 shares of the company’s stock worth $1,841,048,000 after purchasing an additional 402,211 shares in the last quarter. Amundi grew its position in Constellation Brands by 54.9% during the 4th quarter. Amundi now owns 453,180 shares of the company’s stock worth $99,373,000 after purchasing an additional 160,563 shares in the last quarter. Finally, OFI Invest Asset Management acquired a new stake in shares of Constellation Brands during the 4th quarter valued at $31,656,000. 77.34% of the stock is currently owned by institutional investors.

Insider Transactions at Constellation Brands

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 price of $186.39 per share, for a total transaction of $186,390.00. Following 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 12.19% of the company’s stock.

Constellation Brands Stock Up 1.2 %

Constellation Brands stock opened at $183.53 on Tuesday. The firm has a market cap of $33.17 billion, a price-to-earnings ratio of 49.34, a P/E/G 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 fifty-two week low of $160.46 and a fifty-two week high of $274.87. The firm has a fifty day moving average price of $179.79 and a two-hundred day moving average price of $218.70.

Constellation Brands (NYSE:STZ) last released its earnings results on Friday, January 10th. The company reported $3.25 earnings per share for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.08). The firm had revenue of $2.46 billion for the quarter, compared to analyst estimates 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 firm earned $3.19 EPS. As a group, analysts forecast that Constellation Brands, Inc. will post 13.5 earnings per share for the current year.

Constellation Brands Announces Dividend

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

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Truist Financial decreased their target price on shares of Constellation Brands from $255.00 to $190.00 and set a “hold” rating for the company in a research note on Tuesday, January 14th. StockNews.com lowered shares of Constellation Brands from a “hold” rating to a “sell” rating in a research note on Friday. TD Cowen decreased their target price on shares of Constellation Brands from $270.00 to $260.00 and set a “hold” rating for the company in a research note on Wednesday, January 8th. UBS Group decreased their target price 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. Finally, Barclays decreased their target price on shares of Constellation Brands from $214.00 to $205.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $252.81.

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.