SouthState Corp Lowers Stock Position in Constellation Brands Inc $STZ

SouthState Corp reduced its stake in shares of Constellation Brands Inc (NYSE:STZ) by 8.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,157 shares of the company’s stock after selling 1,859 shares during the period. SouthState Corp’s holdings in Constellation Brands were worth $3,279,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Zions Bancorporation National Association UT purchased a new position in Constellation Brands in the 1st quarter worth approximately $38,000. Flaharty Asset Management LLC purchased a new position in Constellation Brands in the 1st quarter worth approximately $39,000. WPG Advisers LLC purchased a new position in Constellation Brands in the 1st quarter worth approximately $43,000. Hoey Investments Inc. purchased a new position in Constellation Brands in the 2nd quarter worth approximately $40,000. Finally, Curio Wealth LLC lifted its holdings in Constellation Brands by 29,900.0% in the 2nd quarter. Curio Wealth LLC now owns 300 shares of the company’s stock worth $49,000 after purchasing an additional 299 shares in the last quarter. 77.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Zacks Research raised Constellation Brands from a “strong sell” rating to a “hold” rating in a report on Monday. Sanford C. Bernstein lowered their price target on Constellation Brands from $225.00 to $195.00 and set an “outperform” rating on the stock in a report on Thursday, September 4th. Citigroup lowered their price target on Constellation Brands from $155.00 to $145.00 and set a “neutral” rating on the stock in a report on Tuesday, September 23rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $180.00 price objective on shares of Constellation Brands in a research note on Wednesday, October 8th. Finally, Barclays reduced their price objective on Constellation Brands from $150.00 to $147.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $186.44.

Constellation Brands Stock Performance

NYSE:STZ opened at $130.73 on Thursday. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.08 and a quick ratio of 0.54. Constellation Brands Inc has a 1 year low of $127.00 and a 1 year high of $245.31. The stock’s 50 day simple moving average is $139.64 and its two-hundred day simple moving average is $162.29. The company has a market cap of $22.88 billion, a price-to-earnings ratio of 19.08, a PEG ratio of 0.39 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last released its earnings results on Thursday, February 23rd. The company reported $3.12 earnings per share for the quarter. The firm had revenue of $2.32 billion for the quarter. Constellation Brands had a return on equity of 29.82% and a net margin of 11.88%. As a group, equities analysts anticipate that Constellation Brands Inc will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 13th. Stockholders of record on Thursday, October 30th will be given a dividend of $1.02 per share. The ex-dividend date of this dividend is Thursday, October 30th. This represents a $4.08 annualized dividend and a dividend yield of 3.1%. Constellation Brands’s payout ratio is currently 59.56%.

About Constellation Brands

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.