Constellation Brands, Inc. (NYSE:STZ) Stake Decreased by Lindbrook Capital LLC

Lindbrook Capital LLC lessened its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 20.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 265 shares of the company’s stock after selling 68 shares during the period. Lindbrook Capital LLC’s holdings in Constellation Brands were worth $59,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp raised its holdings in Constellation Brands by 6.0% during the third 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 raised its holdings in Constellation Brands by 1.2% during the third quarter. Janus Henderson Group PLC now owns 1,853,081 shares of the company’s stock worth $477,515,000 after purchasing an additional 21,454 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Constellation Brands by 2.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,782,964 shares of the company’s stock worth $394,035,000 after purchasing an additional 38,786 shares in the last quarter. Van ECK Associates Corp raised its holdings in Constellation Brands by 1,844.7% during the fourth 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 in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Constellation Brands during the fourth quarter worth approximately $105,766,000. Institutional investors own 77.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on STZ shares. TD Cowen dropped their target price on Constellation Brands from $270.00 to $260.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. StockNews.com raised Constellation Brands from a “sell” rating to a “hold” rating in a report on Thursday. Truist Financial dropped their price target on Constellation Brands from $255.00 to $190.00 and set a “hold” rating on the stock in a report on Tuesday, January 14th. Barclays dropped their price target on Constellation Brands from $282.00 to $214.00 and set an “overweight” rating on the stock in a report on Tuesday, January 14th. Finally, Morgan Stanley cut Constellation Brands from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $220.00 to $202.00 in a report on Thursday, February 27th. Eleven equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $253.24.

Insider Activity

In related news, Director William T. Giles purchased 1,000 shares of the stock in a transaction dated Friday, January 17th. The shares were acquired at an average cost 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 approximately $272,688.57. The trade was a 215.98 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 12.19% of the stock is currently owned by corporate insiders.

Constellation Brands Trading Up 4.3 %

Constellation Brands stock opened at $186.64 on Friday. The company’s fifty day simple moving average is $184.27 and its 200-day simple moving average is $221.29. 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 stock has a market cap of $33.73 billion, a P/E ratio of 50.17, a P/E/G ratio of 1.52 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last posted its quarterly 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 net margin of 6.27% and a return on equity of 26.55%. The company had revenue of $2.46 billion for the quarter, compared to analysts’ expectations of $2.53 billion. During the same quarter in the prior year, the firm earned $3.19 earnings per share. The company’s revenue was down .3% on a year-over-year basis. As a group, sell-side analysts forecast that Constellation Brands, Inc. will post 13.5 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 7th were issued a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a dividend yield of 2.16%. The ex-dividend date of this dividend was Friday, February 7th. Constellation Brands’s dividend payout ratio is currently 108.60%.

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.