Constellation Brands, Inc. (NYSE:STZ) Stock Holdings Increased by DAVENPORT & Co LLC

DAVENPORT & Co LLC increased its holdings in Constellation Brands, Inc. (NYSE:STZ) by 6.4% during the fourth quarter, Holdings Channel reports. The firm owned 12,258 shares of the company’s stock after purchasing an additional 740 shares during the period. DAVENPORT & Co LLC’s holdings in Constellation Brands were worth $2,709,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. State Street Corp raised its holdings in shares of Constellation Brands by 6.0% in 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 increased its position in shares of Constellation Brands by 1.2% in the third quarter. Janus Henderson Group PLC now owns 1,853,081 shares of the company’s stock worth $477,515,000 after acquiring an additional 21,454 shares in the last quarter. International Assets Investment Management LLC increased its position in shares of Constellation Brands by 23,184.7% in the third quarter. International Assets Investment Management LLC now owns 499,689 shares of the company’s stock worth $128,765,000 after acquiring an additional 497,543 shares in the last quarter. National Pension Service increased its position in shares of Constellation Brands by 13.6% in the third quarter. National Pension Service now owns 381,755 shares of the company’s stock worth $98,374,000 after acquiring an additional 45,707 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its position in shares of Constellation Brands by 66.3% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 369,966 shares of the company’s stock worth $81,762,000 after acquiring an additional 147,457 shares in the last quarter. 77.34% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on STZ shares. Morgan Stanley dropped their target price on shares of Constellation Brands from $280.00 to $220.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. Jefferies Financial Group reissued a “hold” rating and issued a $201.00 target price (down from $310.00) on shares of Constellation Brands in a research report on Monday, January 13th. UBS Group lowered their price objective on shares of Constellation Brands from $265.00 to $223.00 and set a “buy” rating on the stock in a research report on Friday, January 17th. Barclays lowered their price objective on shares of Constellation Brands from $282.00 to $214.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 14th. Finally, Piper Sandler downgraded shares of Constellation Brands from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $245.00 to $200.00 in a research report on Monday. One research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $254.29.

Constellation Brands Price Performance

Shares of Constellation Brands stock opened at $172.72 on Wednesday. The firm has a fifty day simple moving average of $214.07 and a 200-day simple moving average of $233.24. The company has a current ratio of 1.10, a quick ratio of 0.46 and a debt-to-equity ratio of 1.26. Constellation Brands, Inc. has a 1-year low of $166.02 and a 1-year high of $274.87. The stock has a market capitalization of $31.22 billion, a price-to-earnings ratio of 46.43, a PEG ratio of 1.59 and a beta of 0.90.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings data on Friday, January 10th. The company reported $3.25 earnings per share 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 during the quarter, compared to analyst estimates of $2.53 billion. During the same quarter in the previous year, the firm posted $3.19 earnings per share. Constellation Brands’s quarterly revenue was down .3% compared to the same quarter last year. On average, sell-side analysts expect that Constellation Brands, Inc. will post 13.52 earnings per share for the current year.

Constellation Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Friday, February 7th will be paid a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 2.34%. The ex-dividend date of this dividend is Friday, February 7th. Constellation Brands’s payout ratio is currently 108.60%.

Insider Activity at Constellation Brands

In other Constellation Brands news, Director William T. Giles purchased 1,000 shares of the stock in a transaction on Friday, January 17th. The shares were purchased at an average price of $186.39 per share, with a total value of $186,390.00. Following the acquisition, the director now directly owns 1,463 shares of the company’s stock, valued at $272,688.57. This represents a 215.98 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO William A. Newlands sold 25,000 shares of the business’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $243.58, for a total transaction of $6,089,500.00. Following the completion of the sale, the chief executive officer now directly owns 7,274 shares in the company, valued at $1,771,800.92. This trade represents a 77.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 61,746 shares of company stock worth $15,017,097 in the last ninety days. 12.19% of the stock is currently owned by insiders.

Constellation Brands 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.