Silvercrest Asset Management Group LLC decreased its position in Constellation Brands, Inc. (NYSE: STZ – Get Rating) by 6.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 8,463 shares of the company stock after selling 550 shares during the quarter. Silvercrest Asset Management Group LLC’s holdings in Constellation Brands were worth $ 2,124,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the business. Capital World Investors increased its stake in Constellation Brands by 28.7% in the 4th quarter. Capital World Investors now owns 8,810,424 shares of the company stock worth $ 2,211,152,000 after acquiring an additional 1,967,115 shares during the last quarter. Alliancebernstein LP increased its stake in Constellation Brands by 48.6% in the 4th quarter. Alliancebernstein LP now owns 2,885,267 shares of the company stock worth $ 724,116,000 after acquiring an additional 943,872 shares during the last quarter. Geode Capital Management LLC increased its stake in Constellation Brands by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 2,551,818 shares of the company stock worth $ 638,398,000 after acquiring an additional 9,302 shares during the last quarter. Janus Henderson Group PLC increased its stake in Constellation Brands by 9.4% in the 3rd quarter. Janus Henderson Group PLC now owns 2,195,652 shares of the company stock worth $ 462,603,000 after acquiring an additional 188,410 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in Constellation Brands by 5.1% in the 4th quarter. American Century Companies Inc. now owns 1,837,048 shares of the company stock worth $ 461,044,000 after acquiring an additional 89,301 shares during the last quarter. 74.99% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE STZ opened at $ 230.03 on Tuesday. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.23 and a quick ratio of 0.65. The stock has a market capitalization of $ 43.30 billion, a P / E ratio of -1,277.94, a price-to-earnings-growth ratio of 1.98 and a beta of 1.06. Constellation Brands, Inc. has a 1-year low of $ 207.35 and a 1-year high of $ 261.52. The business has a fifty day moving average price of $ 245.63 and a 200 day moving average price of $ 237.36.
Constellation Brands (NYSE: STZ – Get Rating) last issued its quarterly earnings data on Thursday, April 7th. The company reported $ 2.37 earnings per share for the quarter, topping analysts’ consensus estimates of $ 2.15 by $ 0.22. The firm had revenue of $ 2.10 billion during the quarter, compared to analysts’ expectations of $ 2.02 billion. Constellation Brands had a positive return on equity of 16.43% and a negative net margin of 0.42%. The firm’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the business posted $ 1.82 EPS. As a group, equities research analysts anticipate that Constellation Brands, Inc. will post 11.18 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, May 19th. Shareholders of record on Thursday, May 5th were paid a $ 0.80 dividend. The ex-dividend date was Wednesday, May 4th. This is a boost from Constellation Brands’s previous quarterly dividend of $ 0.14. This represents a $ 3.20 dividend on an annualized basis and a yield of 1.39%. Constellation Brands’s dividend payout ratio (DPR) is -516.67%.
A number of research firms have issued reports on STZ. Truist Financial lifted their price objective on Constellation Brands from $ 213.00 to $ 245.00 and gave the stock a “hold” rating in a research note on Friday, April 8th. Morgan Stanley cut their target price on Constellation Brands from $ 299.00 to $ 294.00 and set an “overweight” rating on the stock in a research report on Monday, April 4th. StockNews.com downgraded Constellation Brands from a “buy” rating to a “hold” rating in a research report on Thursday, June 9th. Deutsche Bank Aktiengesellschaft boosted their target price on Constellation Brands from $ 240.00 to $ 250.00 and gave the company a “hold” rating in a research report on Friday, April 8th. Finally, JPMorgan Chase & Co. cut their target price on Constellation Brands from $ 278.00 to $ 276.00 and set an “overweight” rating on the stock in a research report on Monday, April 4th. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $ 270.13.
In other news, EVP James O. Bourdeau sold 12,860 shares of the stock in a transaction dated Friday, April 22nd. The stock was sold at an average price of $ 254.24, for a total value of $ 3,269,526.40. Following the transaction, the executive vice president now directly owns 1,628 shares of the company stock, valued at $ 413,902.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William A. Newlands sold 3,787 shares of the stock in a transaction dated Wednesday, May 4th. The shares were sold at an average price of $ 254.00, for a total value of $ 961,898.00. Following the completion of the transaction, the chief executive officer now directly owns 14,798 shares in the company, valued at $ 3,758,692. The disclosure for this sale can be found here. Over the last quarter, insiders sold 25,822 shares of company stock valued at $ 6,451,256. 16.19% of the stock is currently owned by company insiders.
Constellation Brands Profile: (Get Rating)
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. It provides beer primarily under the Corona Extra, Corona Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands.
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