Constellation Brands, Inc. (NYSE:STZ) Shares Sold by Avantax Planning Partners Inc.

Avantax Planning Partners Inc. reduced its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 37.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,298 shares of the company’s stock after selling 2,602 shares during the period. Avantax Planning Partners Inc.’s holdings in Constellation Brands were worth $950,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Mainstream Capital Management LLC acquired a new position in Constellation Brands during the fourth quarter worth about $25,000. SBI Securities Co. Ltd. acquired a new position in Constellation Brands during the fourth quarter worth about $26,000. Compagnie Lombard Odier SCmA acquired a new position in Constellation Brands during the fourth quarter worth about $27,000. Union Bancaire Privee UBP SA acquired a new position in Constellation Brands during the fourth quarter worth about $28,000. Finally, Versant Capital Management Inc grew its holdings in Constellation Brands by 887.5% during the fourth quarter. Versant Capital Management Inc now owns 158 shares of the company’s stock worth $35,000 after acquiring an additional 142 shares during the period. 77.34% of the stock is owned by institutional investors and hedge funds.

Constellation Brands Stock Down 2.1 %

Shares of Constellation Brands stock opened at $185.57 on Wednesday. The firm has a market cap of $33.54 billion, a price-to-earnings ratio of 49.88, a P/E/G ratio of 1.52 and a beta of 1.75. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.10 and a quick ratio of 0.46. Constellation Brands, Inc. has a 52-week low of $160.46 and a 52-week high of $274.87. The stock has a 50-day simple moving average of $182.96 and a 200-day simple moving average of $220.33.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Friday, January 10th. The company reported $3.25 earnings per share (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 firm had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.53 billion. During the same quarter in the prior year, the firm earned $3.19 earnings per share. The firm’s quarterly revenue was down .3% compared to the same quarter last year. On average, equities research analysts expect that Constellation Brands, Inc. will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 7th were paid a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date was Friday, February 7th. Constellation Brands’s payout ratio is 108.60%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on STZ shares. Wells Fargo & Company dropped their price target on Constellation Brands from $295.00 to $275.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. TD Cowen dropped their price target on Constellation Brands from $270.00 to $260.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Barclays dropped their price target on Constellation Brands from $282.00 to $214.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 14th. Piper Sandler cut Constellation Brands from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $245.00 to $200.00 in a research note on Monday, February 3rd. Finally, BNP Paribas started coverage on Constellation Brands in a research note on Monday, November 25th. They issued a “neutral” rating and a $261.00 price target on the stock. Eleven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $253.24.

Insider Activity at Constellation Brands

In related news, Director William T. Giles acquired 1,000 shares of the business’s stock in a transaction that occurred on Friday, January 17th. The shares were acquired 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 of the company’s stock, valued at approximately $272,688.57. The trade was a 215.98 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 12.19% of the stock is owned by company insiders.

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.