Federated Hermes Inc. Lowers Stock Holdings in Constellation Brands, Inc. (NYSE:STZ)

Federated Hermes Inc. trimmed its holdings in Constellation Brands, Inc. (NYSE:STZ) by 79.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,523 shares of the company’s stock after selling 69,258 shares during the quarter. Federated Hermes Inc.’s holdings in Constellation Brands were worth $3,873,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in shares of Constellation Brands by 13.3% in the fourth quarter. Vanguard Group Inc. now owns 15,534,787 shares of the company’s stock valued at $3,433,188,000 after purchasing an additional 1,821,969 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Constellation Brands by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 3,204,003 shares of the company’s stock worth $705,844,000 after acquiring an additional 63,323 shares during the period. Grantham Mayo Van Otterloo & Co. LLC increased its holdings in Constellation Brands by 42.9% during the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 2,454,258 shares of the company’s stock worth $542,391,000 after purchasing an additional 736,780 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Constellation Brands by 13.2% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,176,095 shares of the company’s stock valued at $482,919,000 after acquiring an additional 253,445 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Constellation Brands in the 4th quarter valued at about $445,883,000. 77.34% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director William T. Giles purchased 1,000 shares of Constellation Brands stock in a transaction dated Friday, January 17th. The shares were acquired at an average cost of $186.39 per share, with a total value of $186,390.00. Following the purchase, the director now owns 1,463 shares of the company’s stock, valued at approximately $272,688.57. The trade was a 215.98 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 12.19% of the stock is owned by insiders.

Wall Street Analyst Weigh In

STZ has been the subject of a number of analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $215.00 price objective on shares of Constellation Brands in a research report on Thursday. The Goldman Sachs Group lowered their price objective on shares of Constellation Brands from $260.00 to $225.00 and set a “buy” rating for the company in a research note on Friday. Argus downgraded Constellation Brands from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Wells Fargo & Company lowered their price target on shares of Constellation Brands from $230.00 to $210.00 and set an “overweight” rating on the stock in a report on Wednesday, April 2nd. Finally, Roth Mkm lowered their price objective on Constellation Brands from $284.00 to $256.00 and set a “buy” rating on the stock in a research report on Thursday, April 3rd. Eleven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $231.10.

Constellation Brands Trading Up 0.5 %

Shares of STZ stock opened at $185.63 on Friday. Constellation Brands, Inc. has a fifty-two week low of $160.46 and a fifty-two week high of $270.18. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.46 and a current ratio of 1.10. The stock’s fifty day moving average is $176.86 and its two-hundred day moving average is $209.03. The firm has a market capitalization of $33.55 billion, a P/E ratio of 49.90, a PEG ratio of 1.52 and a beta of 1.75.

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

Constellation Brands Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 29th will be paid a $1.02 dividend. This is a boost from Constellation Brands’s previous quarterly dividend of $1.01. The ex-dividend date is Tuesday, April 29th. This represents a $4.08 annualized dividend and a dividend yield of 2.20%. Constellation Brands’s dividend payout ratio is -792.16%.

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.