Coho Partners Ltd. Sells 65,663 Shares of Constellation Brands, Inc. (NYSE:STZ)

Coho Partners Ltd. trimmed its stake in Constellation Brands, Inc. (NYSE:STZ) by 23.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 217,416 shares of the company’s stock after selling 65,663 shares during the period. Constellation Brands comprises approximately 2.2% of Coho Partners Ltd.’s investment portfolio, making the stock its 27th biggest position. Coho Partners Ltd. owned approximately 0.12% of Constellation Brands worth $48,049,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. State Street Corp boosted its position in shares of 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. Janus Henderson Group PLC lifted its position in shares of Constellation Brands by 1.2% during the 3rd quarter. Janus Henderson Group PLC now owns 1,853,081 shares of the company’s stock worth $477,515,000 after buying an additional 21,454 shares in the last quarter. Van ECK Associates Corp increased its stake in shares of 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 during the last quarter. International Assets Investment Management LLC grew its stake in Constellation Brands by 23,184.7% in the 3rd quarter. International Assets Investment Management LLC now owns 499,689 shares of the company’s stock valued at $128,765,000 after buying an additional 497,543 shares in the last quarter. Finally, National Pension Service grew its stake in Constellation Brands by 13.6% in the 3rd quarter. National Pension Service now owns 381,755 shares of the company’s stock valued at $98,374,000 after buying an additional 45,707 shares in the last quarter. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Constellation Brands Stock Performance

Shares of STZ stock opened at $163.25 on Friday. 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 has a fifty day moving average price of $204.40 and a 200 day moving average price of $229.45. The company has a market cap of $29.50 billion, a P/E ratio of 43.88, a PEG ratio of 1.51 and a beta of 1.75. Constellation Brands, Inc. has a 12 month low of $160.46 and a 12 month high of $274.87.

Constellation Brands (NYSE:STZ) last announced 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). The business had revenue of $2.46 billion during the quarter, compared to analysts’ expectations of $2.53 billion. Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. Constellation Brands’s quarterly revenue was down .3% on a year-over-year basis. During the same period in the previous year, the company posted $3.19 earnings per share. Sell-side analysts predict that Constellation Brands, Inc. will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Stockholders 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 dividend yield of 2.47%. Constellation Brands’s dividend payout ratio is presently 108.60%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $203.00 price objective (down from $262.00) on shares of Constellation Brands in a report on Monday, January 13th. BNP Paribas assumed coverage on shares of Constellation Brands in a research report on Monday, November 25th. They issued a “neutral” rating and a $261.00 price objective on the stock. Piper Sandler cut shares of Constellation Brands from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $245.00 to $200.00 in a research report on Monday, February 3rd. Jefferies Financial Group reiterated a “hold” rating and set a $201.00 price target (down previously from $310.00) on shares of Constellation Brands in a research report on Monday, January 13th. Finally, TD Cowen cut their price objective on shares of Constellation Brands from $270.00 to $260.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Ten analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $254.29.

Insider Activity

In related news, Director William T. Giles purchased 1,000 shares of the firm’s stock in a transaction on 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 directly owns 1,463 shares in the company, valued at $272,688.57. This trade represents a 215.98 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Wildstar Partners Llc sold 660 shares of the firm’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $241.00, for a total transaction of $159,060.00. Following the completion of the transaction, the insider now directly owns 1,736,884 shares in the company, valued at approximately $418,589,044. This represents a 0.04 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 12.19% of the company’s stock.

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.