Constellation Brands, Inc. (NYSE:STZ) Stock Holdings Lessened by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC lessened its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 15.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 12,150 shares of the company’s stock after selling 2,214 shares during the period. CIBC Private Wealth Group LLC’s holdings in Constellation Brands were worth $2,664,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Constellation Brands during the 4th quarter worth approximately $4,180,000. Allianz SE bought a new position in Constellation Brands during the 4th quarter worth $1,471,000. Allstate Corp acquired a new stake in Constellation Brands in the fourth quarter worth $1,102,000. Brown Brothers Harriman & Co. lifted its stake in Constellation Brands by 4.5% in the fourth quarter. Brown Brothers Harriman & Co. now owns 1,988 shares of the company’s stock valued at $439,000 after buying an additional 86 shares during the last quarter. Finally, DnB Asset Management AS boosted its holdings in shares of Constellation Brands by 8.9% during the fourth quarter. DnB Asset Management AS now owns 36,173 shares of the company’s stock valued at $7,994,000 after acquiring an additional 2,968 shares during the period. Institutional investors and hedge funds own 77.34% of the company’s stock.

Constellation Brands Trading Down 1.2 %

Shares of NYSE STZ opened at $182.62 on Thursday. The company has a quick ratio of 0.46, a current ratio of 1.10 and a debt-to-equity ratio of 1.26. Constellation Brands, Inc. has a 12 month low of $160.46 and a 12 month high of $274.87. The company has a market cap of $33.00 billion, a price-to-earnings ratio of 49.09, a P/E/G ratio of 1.52 and a beta of 1.75. The business has a fifty day simple moving average of $177.29 and a 200-day simple moving average of $213.33.

Constellation Brands (NYSE:STZ) last announced its earnings results on Friday, January 10th. The company reported $3.25 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $2.53 billion. During the same quarter in the previous year, the business earned $3.19 earnings per share. The business’s quarterly revenue was down .3% compared to the same quarter last year. Sell-side analysts predict that Constellation Brands, Inc. will post 13.5 EPS for the current year.

Constellation Brands Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 7th were paid a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 2.21%. The ex-dividend date was Friday, February 7th. Constellation Brands’s dividend payout ratio (DPR) is currently 108.60%.

Wall Street Analysts Forecast Growth

STZ has been the topic of several recent research reports. 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 research report on Wednesday, January 8th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $203.00 price target (down previously from $262.00) on shares of Constellation Brands in a report on Monday, January 13th. Evercore ISI decreased their price objective on Constellation Brands from $300.00 to $250.00 and set an “outperform” rating for the company in a report on Monday, January 13th. Piper Sandler downgraded Constellation Brands from an “overweight” rating to a “neutral” rating and cut their target price for the company from $245.00 to $200.00 in a research note on Monday, February 3rd. Finally, Roth Capital decreased their price target on Constellation Brands from $298.00 to $284.00 and set a “buy” rating for the company in a research note on Friday, January 17th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $246.23.

Insider Activity

In other Constellation Brands news, Director William T. Giles acquired 1,000 shares of Constellation Brands stock in a transaction that occurred on Friday, January 17th. The stock was purchased 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 in the company, 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 legal filing with the SEC, which can be accessed through this link. Corporate insiders own 12.19% of the company’s stock.

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.