Sirios Capital Management L P Sells 2,681 Shares of Constellation Brands, Inc. (NYSE:STZ)

Sirios Capital Management L P lessened its stake in Constellation Brands, Inc. (NYSE:STZ) by 27.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,983 shares of the company’s stock after selling 2,681 shares during the period. Sirios Capital Management L P’s holdings in Constellation Brands were worth $1,543,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Constellation Brands by 13.3% during 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 during the period. Capital World Investors increased its stake in Constellation Brands by 3.4% in the fourth quarter. Capital World Investors now owns 9,755,602 shares of the company’s stock valued at $2,155,946,000 after acquiring an additional 324,690 shares during the period. Geode Capital Management LLC raised its position in Constellation Brands by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 3,204,003 shares of the company’s stock worth $705,844,000 after purchasing an additional 63,323 shares in the last quarter. Capital Research Global Investors boosted its holdings in Constellation Brands by 0.6% during the fourth quarter. Capital Research Global Investors now owns 2,901,975 shares of the company’s stock valued at $641,336,000 after purchasing an additional 18,557 shares in the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC grew its stake in shares of Constellation Brands by 42.9% in the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 2,454,258 shares of the company’s stock valued at $542,391,000 after purchasing an additional 736,780 shares during the period. 77.34% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on STZ shares. Piper Sandler cut Constellation Brands from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $245.00 to $200.00 in a research report on Monday, February 3rd. Argus lowered shares of Constellation Brands from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Evercore ISI lowered their price target on shares of Constellation Brands from $300.00 to $250.00 and set an “outperform” rating for the company in a report on Monday, January 13th. Morgan Stanley decreased their price objective on Constellation Brands from $202.00 to $195.00 and set an “equal weight” rating on the stock in a research report on Friday, April 11th. Finally, Royal Bank of Canada cut their price target on Constellation Brands from $289.00 to $233.00 and set an “outperform” rating on the stock in a research note on Monday, April 14th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $224.42.

Constellation Brands Stock Performance

NYSE STZ opened at $187.00 on Wednesday. The firm has a market capitalization of $33.80 billion, a P/E ratio of 50.27, a price-to-earnings-growth ratio of 1.52 and a beta of 1.75. 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’s fifty day moving average price is $179.57 and its two-hundred day moving average price is $205.74. Constellation Brands, Inc. has a 1 year low of $160.46 and a 1 year high of $265.70.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings results on Wednesday, April 9th. The company reported $2.63 EPS for the quarter, topping analysts’ consensus estimates of $2.28 by $0.35. The business had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.14 billion. Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. Constellation Brands’s quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter last year, the company posted $2.26 earnings per share. As a group, research analysts anticipate that Constellation Brands, Inc. will post 13.5 EPS for the current year.

Constellation Brands Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 29th will be given a $1.02 dividend. The ex-dividend date is Tuesday, April 29th. This is a positive change from Constellation Brands’s previous quarterly dividend of $1.01. This represents a $4.08 annualized dividend and a dividend yield of 2.18%. Constellation Brands’s dividend payout ratio is presently -800.00%.

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.