Atlantic Union Bankshares Corp Sells 2,040 Shares of Constellation Brands, Inc. (NYSE:STZ)

Atlantic Union Bankshares Corp lessened its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 19.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 8,678 shares of the company’s stock after selling 2,040 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in Constellation Brands were worth $1,918,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Farther Finance Advisors LLC increased its stake in Constellation Brands by 22.7% in the third quarter. Farther Finance Advisors LLC now owns 812 shares of the company’s stock worth $209,000 after purchasing an additional 150 shares during the period. Robeco Institutional Asset Management B.V. boosted its position in Constellation Brands by 2.4% during the third quarter. Robeco Institutional Asset Management B.V. now owns 9,995 shares of the company’s stock valued at $2,576,000 after purchasing an additional 237 shares in the last quarter. Executive Wealth Management LLC boosted its position in Constellation Brands by 18.9% during the third quarter. Executive Wealth Management LLC now owns 12,985 shares of the company’s stock valued at $3,346,000 after purchasing an additional 2,060 shares in the last quarter. Assetmark Inc. lifted its holdings in shares of Constellation Brands by 25.1% during the third quarter. Assetmark Inc. now owns 22,609 shares of the company’s stock worth $5,826,000 after purchasing an additional 4,531 shares during the period. Finally, 5th Street Advisors LLC acquired a new stake in shares of Constellation Brands during the third quarter worth about $206,000. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Constellation Brands Stock Performance

Shares of Constellation Brands stock opened at $186.64 on Friday. The business has a 50-day moving average of $184.27 and a 200 day moving average of $221.29. Constellation Brands, Inc. has a 12 month low of $160.46 and a 12 month high of $274.87. The stock has a market capitalization of $33.73 billion, a price-to-earnings ratio of 50.17, a price-to-earnings-growth 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 (NYSE:STZ) last announced its earnings results on Friday, January 10th. The company reported $3.25 EPS for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $2.53 billion. During the same quarter last year, the business earned $3.19 earnings per share. The business’s revenue was down .3% compared to the same quarter last year. As a group, sell-side analysts forecast 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. Shareholders of record on Friday, February 7th were given a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date was Friday, February 7th. Constellation Brands’s dividend payout ratio is currently 108.60%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on STZ. Royal Bank of Canada reduced their price target on Constellation Brands from $293.00 to $289.00 and set an “outperform” rating for the company in a research report on Friday. Jefferies Financial Group restated a “hold” rating and issued a $201.00 price objective (down from $310.00) on shares of Constellation Brands in a research report on Monday, January 13th. Evercore ISI lowered their price target on Constellation Brands from $300.00 to $250.00 and set an “outperform” rating on the stock in a research note on Monday, January 13th. Morgan Stanley lowered Constellation Brands from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $220.00 to $202.00 in a research note on Thursday, February 27th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $203.00 price target (down from $262.00) on shares of Constellation Brands in a research note on Monday, January 13th. Eleven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $253.24.

Insider Buying and Selling at Constellation Brands

In related news, Director William T. Giles purchased 1,000 shares of Constellation Brands stock in a transaction on Friday, January 17th. The shares were bought at an average price of $186.39 per share, with a total value of $186,390.00. Following the transaction, the director now directly owns 1,463 shares of the company’s stock, valued at approximately $272,688.57. This trade represents a 215.98 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 12.19% of the stock is owned by corporate 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.