Constellation Brands, Inc. (NYSE:STZ) Shares Sold by Harbor Investment Advisory LLC

Harbor Investment Advisory LLC trimmed its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 38.8% during the 4th quarter, Holdings Channel reports. The fund owned 1,976 shares of the company’s stock after selling 1,254 shares during the quarter. Harbor Investment Advisory LLC’s holdings in Constellation Brands were worth $437,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. International Assets Investment Management LLC grew its stake in shares of Constellation Brands by 23,184.7% during the 3rd quarter. International Assets Investment Management LLC now owns 499,689 shares of the company’s stock worth $128,765,000 after purchasing an additional 497,543 shares during the period. State Street Corp grew its position in Constellation Brands by 6.0% during the third quarter. State Street Corp now owns 7,144,428 shares of the company’s stock valued at $1,841,048,000 after buying an additional 402,211 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in Constellation Brands by 66.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 369,966 shares of the company’s stock valued at $81,762,000 after buying an additional 147,457 shares during the period. NFJ Investment Group LLC increased its holdings in Constellation Brands by 617.3% in the third quarter. NFJ Investment Group LLC now owns 108,382 shares of the company’s stock valued at $27,929,000 after buying an additional 93,273 shares in the last quarter. Finally, World Investment Advisors LLC raised its position in shares of Constellation Brands by 4,601.2% in the third quarter. World Investment Advisors LLC now owns 87,771 shares of the company’s stock worth $22,618,000 after acquiring an additional 85,904 shares during the period. 77.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on STZ. Jefferies Financial Group restated a “hold” rating and issued a $201.00 price target (down previously from $310.00) on shares of Constellation Brands in a research note on Monday, January 13th. Piper Sandler cut their price objective on Constellation Brands from $300.00 to $245.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. Roth Mkm reiterated a “buy” rating and set a $298.00 target price on shares of Constellation Brands in a research report on Friday, October 4th. Bank of America reissued a “neutral” rating and issued a $255.00 price target (down previously from $300.00) on shares of Constellation Brands in a report on Monday, October 7th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and set a $203.00 price objective (down from $262.00) on shares of Constellation Brands in a research report on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $259.05.

Constellation Brands Stock Down 0.7 %

NYSE STZ opened at $182.99 on Wednesday. The business’s fifty day simple moving average is $225.70 and its 200-day simple moving average is $238.27. The company has a quick ratio of 0.46, a current ratio of 1.10 and a debt-to-equity ratio of 1.26. The firm has a market cap of $33.07 billion, a PE ratio of 49.19, a P/E/G ratio of 1.62 and a beta of 0.91. Constellation Brands, Inc. has a 52 week low of $176.51 and a 52 week high of $274.87.

Constellation Brands (NYSE:STZ) last issued its earnings results on Friday, January 10th. The company reported $3.25 EPS for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.08). Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The firm had revenue of $2.46 billion for the quarter, compared to analysts’ expectations of $2.53 billion. During the same period last year, the firm earned $3.19 earnings per share. Constellation Brands’s revenue for the quarter was down .3% on a year-over-year basis. As a group, equities analysts anticipate that Constellation Brands, Inc. will post 13.52 earnings per share for the current year.

Constellation Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Friday, February 7th will be given a $1.01 dividend. The ex-dividend date is Friday, February 7th. This represents a $4.04 annualized dividend and a yield of 2.21%. Constellation Brands’s payout ratio is 108.60%.

Insiders Place Their Bets

In other Constellation Brands news, CEO William A. Newlands sold 7,426 shares of the stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $237.24, for a total transaction of $1,761,744.24. Following the completion of the transaction, the chief executive officer now owns 7,274 shares of the company’s stock, valued at $1,725,683.76. This trade represents a 50.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director William T. Giles purchased 1,000 shares of Constellation Brands stock in a transaction dated Friday, January 17th. The stock was bought at an average cost of $186.39 per share, for a total transaction of $186,390.00. Following the completion of the purchase, the director now directly owns 1,463 shares in the company, valued at approximately $272,688.57. This trade represents a 215.98 % increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 69,172 shares of company stock valued at $16,778,841 over the last quarter. 12.19% of the stock is owned by insiders.

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.