Chevy Chase Trust Holdings LLC Trims Position in Constellation Brands, Inc. (NYSE:STZ)

Chevy Chase Trust Holdings LLC lowered its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 1.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 91,215 shares of the company’s stock after selling 968 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Constellation Brands were worth $24,789,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of STZ. Norges Bank purchased a new position in shares of Constellation Brands during the 4th quarter worth about $443,844,000. Boston Partners acquired a new position in Constellation Brands during the fourth quarter worth approximately $156,358,000. International Assets Investment Management LLC increased its position in Constellation Brands by 24,922.5% during the fourth quarter. International Assets Investment Management LLC now owns 567,010 shares of the company’s stock worth $137,075,000 after purchasing an additional 564,744 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Constellation Brands by 38.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,403,495 shares of the company’s stock worth $335,402,000 after purchasing an additional 388,390 shares during the last quarter. Finally, Palestra Capital Management LLC acquired a new position in Constellation Brands during the fourth quarter worth approximately $83,195,000. 77.34% of the stock is owned by hedge funds and other institutional investors.

Constellation Brands Stock Performance

Constellation Brands stock opened at $253.81 on Thursday. The company has a current ratio of 1.19, a quick ratio of 0.53 and a debt-to-equity ratio of 1.06. The stock has a 50 day moving average of $254.56 and a 200-day moving average of $254.55. The stock has a market cap of $46.44 billion, a P/E ratio of 26.97, a price-to-earnings-growth ratio of 1.68 and a beta of 0.87. Constellation Brands, Inc. has a 52 week low of $227.50 and a 52 week high of $274.87.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings data on Wednesday, July 3rd. The company reported $3.57 EPS for the quarter, beating analysts’ consensus estimates of $3.46 by $0.11. The firm had revenue of $2.66 billion for the quarter, compared to the consensus estimate of $2.67 billion. Constellation Brands had a net margin of 22.70% and a return on equity of 23.72%. The firm’s revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.91 EPS. On average, analysts expect that Constellation Brands, Inc. will post 13.7 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Wednesday, August 14th will be issued a $1.01 dividend. This represents a $4.04 annualized dividend and a yield of 1.59%. The ex-dividend date is Wednesday, August 14th. Constellation Brands’s dividend payout ratio is currently 43.07%.

Insider Buying and Selling at Constellation Brands

In other news, EVP Michael Mcgrew sold 3,237 shares of Constellation Brands stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $255.50, for a total value of $827,053.50. Following the completion of the transaction, the executive vice president now owns 1,731 shares in the company, valued at approximately $442,270.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, EVP James A. Jr. Sabia sold 15,781 shares of the firm’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $263.63, for a total value of $4,160,345.03. Following the transaction, the executive vice president now directly owns 20,910 shares in the company, valued at approximately $5,512,503.30. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Michael Mcgrew sold 3,237 shares of Constellation Brands stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $255.50, for a total transaction of $827,053.50. Following the completion of the transaction, the executive vice president now directly owns 1,731 shares of the company’s stock, valued at $442,270.50. The disclosure for this sale can be found here. Insiders have sold 48,031 shares of company stock worth $12,582,321 over the last quarter. 12.19% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

STZ has been the subject of several research analyst reports. Truist Financial reaffirmed a “hold” rating and set a $265.00 price target on shares of Constellation Brands in a research report on Wednesday, July 3rd. JPMorgan Chase & Co. upped their price target on shares of Constellation Brands from $291.00 to $320.00 and gave the stock an “overweight” rating in a research report on Friday, July 5th. Roth Mkm dropped their price target on shares of Constellation Brands from $305.00 to $303.00 and set a “buy” rating for the company in a research report on Friday, July 5th. Jefferies Financial Group upped their price target on shares of Constellation Brands from $310.00 to $311.00 and gave the stock a “buy” rating in a research report on Friday, July 5th. Finally, Argus raised shares of Constellation Brands from a “hold” rating to a “buy” rating and set a $306.00 target price on the stock in a research note on Monday, April 15th. Three investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $300.11.

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.