Constellation Brands Inc $STZ Shares Sold by Capital Research Global Investors

Capital Research Global Investors trimmed its position in Constellation Brands Inc (NYSE:STZ) by 99.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,121 shares of the company’s stock after selling 492,219 shares during the quarter. Capital Research Global Investors’ holdings in Constellation Brands were worth $569,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Choreo LLC boosted its holdings in Constellation Brands by 2.1% in the 4th quarter. Choreo LLC now owns 3,116 shares of the company’s stock valued at $437,000 after purchasing an additional 63 shares during the last quarter. Clearstead Trust LLC boosted its holdings in Constellation Brands by 14.2% in the 4th quarter. Clearstead Trust LLC now owns 548 shares of the company’s stock valued at $76,000 after purchasing an additional 68 shares during the last quarter. Dynamic Advisor Solutions LLC boosted its holdings in Constellation Brands by 2.2% in the 4th quarter. Dynamic Advisor Solutions LLC now owns 3,507 shares of the company’s stock valued at $484,000 after purchasing an additional 76 shares during the last quarter. Larson Financial Group LLC boosted its holdings in Constellation Brands by 2.6% in the 4th quarter. Larson Financial Group LLC now owns 3,610 shares of the company’s stock valued at $498,000 after purchasing an additional 93 shares during the last quarter. Finally, Sigma Planning Corp boosted its holdings in Constellation Brands by 4.0% in the 4th quarter. Sigma Planning Corp now owns 2,458 shares of the company’s stock valued at $325,000 after purchasing an additional 95 shares during the last quarter. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP James O. Bourdeau sold 4,407 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $143.24, for a total transaction of $631,258.68. Following the sale, the executive vice president directly owned 9,109 shares of the company’s stock, valued at $1,304,773.16. This represents a 32.61% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 12.45% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings reissued a “hold (c-)” rating on shares of Constellation Brands in a research note on Monday, May 4th. Piper Sandler boosted their price target on shares of Constellation Brands from $146.00 to $160.00 and gave the company a “neutral” rating in a research note on Friday, April 10th. TD Cowen raised shares of Constellation Brands from a “hold” rating to a “buy” rating and boosted their price target for the company from $142.00 to $190.00 in a research note on Monday, April 13th. Needham & Company LLC boosted their price target on shares of Constellation Brands from $180.00 to $185.00 and gave the company a “buy” rating in a research note on Friday, April 10th. Finally, Evercore set a $175.00 price target on shares of Constellation Brands and gave the company an “outperform” rating in a research note on Friday, April 10th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Constellation Brands has an average rating of “Moderate Buy” and a consensus target price of $175.26.

Constellation Brands Price Performance

Constellation Brands stock opened at $139.97 on Wednesday. The company’s 50 day simple moving average is $150.27 and its 200-day simple moving average is $149.68. The company has a market capitalization of $24.10 billion, a price-to-earnings ratio of 14.60, a price-to-earnings-growth ratio of 3.26 and a beta of 0.39. Constellation Brands Inc has a 1 year low of $126.45 and a 1 year high of $178.13. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.55 and a current ratio of 1.08.

Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Wednesday, April 8th. The company reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.71 by $0.19. Constellation Brands had a net margin of 17.29% and a return on equity of 26.18%. The business had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same period in the previous year, the firm earned $2.63 EPS. The business’s revenue was down 11.3% on a year-over-year basis. As a group, equities research analysts expect that Constellation Brands Inc will post 11.87 earnings per share for the current year.

Constellation Brands Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Wednesday, April 29th were paid a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Wednesday, April 29th. This is an increase from Constellation Brands’s previous quarterly dividend of $1.02. Constellation Brands’s payout ratio is currently 42.96%.

Constellation Brands Profile

Constellation Brands, Inc is a leading producer and marketer of beer, wine and spirits, with operations spanning production, importation, marketing and distribution. The company’s beverage portfolio includes a range of premium and mainstream wines and spirits alongside major imported beer brands; in the U.S. market Constellation is widely known for its role in bringing Mexican imports such as Corona and Modelo to American consumers. Constellation supplies retail, on?premise and foodservice channels and supports its brands with national sales and marketing platforms and supply?chain capabilities.

The company traces its roots to the Canandaigua Wine Company, founded by Marvin Sands in 1945, and evolved through organic growth and acquisition into a diversified beverage company.