Thoroughbred Financial Services LLC Sells 206 Shares of Constellation Brands, Inc. (NYSE:STZ)

Thoroughbred Financial Services LLC cut its holdings in Constellation Brands, Inc. (NYSE:STZ) by 6.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,118 shares of the company’s stock after selling 206 shares during the period. Thoroughbred Financial Services LLC’s holdings in Constellation Brands were worth $689,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in STZ. Van ECK Associates Corp lifted its holdings in shares of Constellation Brands by 1,844.7% in the fourth quarter. Van ECK Associates Corp now owns 924,274 shares of the company’s stock worth $204,265,000 after buying an additional 876,745 shares in the last quarter. Copperleaf Capital LLC bought a new stake in Constellation Brands in the 4th quarter valued at $343,000. Grimes & Company Inc. purchased a new stake in Constellation Brands in the 4th quarter worth $6,099,000. Empowered Funds LLC boosted its holdings in shares of Constellation Brands by 62.8% during the 4th quarter. Empowered Funds LLC now owns 16,575 shares of the company’s stock valued at $3,663,000 after purchasing an additional 6,391 shares during the last quarter. Finally, Southern Style Financial Inc. purchased a new position in shares of Constellation Brands during the fourth quarter valued at about $3,074,000. 77.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

STZ has been the topic of a number of research analyst reports. Truist Financial decreased their target price on Constellation Brands from $255.00 to $190.00 and set a “hold” rating on the stock in a research report on Tuesday, January 14th. Roth Mkm lowered their target price on Constellation Brands from $284.00 to $256.00 and set a “buy” rating for the company in a research report on Thursday. TD Cowen reduced their price target on shares of Constellation Brands from $270.00 to $260.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $203.00 price objective (down previously from $262.00) on shares of Constellation Brands in a research report on Monday, January 13th. Finally, Barclays reduced their target price on shares of Constellation Brands from $205.00 to $203.00 and set an “overweight” rating on the stock in a report on Thursday, March 27th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Constellation Brands has a consensus rating of “Hold” and an average target price of $244.32.

Constellation Brands Stock Performance

STZ stock opened at $173.79 on Friday. Constellation Brands, Inc. has a twelve month low of $160.46 and a twelve month high of $274.87. The firm has a market cap of $31.41 billion, a price-to-earnings ratio of 46.72, a PEG ratio of 1.52 and a beta of 1.75. The business’s fifty day simple moving average is $177.14 and its two-hundred day simple moving average is $212.27. 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 (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 return on equity of 26.55% and a net margin of 6.27%. The company had revenue of $2.46 billion during the quarter, compared to analysts’ expectations of $2.53 billion. During the same period in the prior year, the business earned $3.19 EPS. The company’s quarterly revenue was down .3% on a year-over-year basis. Analysts predict that Constellation Brands, Inc. will post 13.5 earnings per share for the current year.

Constellation Brands Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 7th were paid a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a dividend yield of 2.32%. The ex-dividend date was Friday, February 7th. Constellation Brands’s dividend payout ratio is presently 108.60%.

Insider Activity at Constellation Brands

In other news, Director William T. Giles bought 1,000 shares of the firm’s stock in a transaction on Friday, January 17th. The stock was acquired at an average cost of $186.39 per share, with a total value of $186,390.00. Following the transaction, the director now directly owns 1,463 shares in the company, valued at approximately $272,688.57. This trade represents a 215.98 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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.