Corient Private Wealth LLC Has $28.51 Million Holdings in Constellation Brands, Inc. (NYSE:STZ)

Corient Private Wealth LLC trimmed its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 21.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 128,985 shares of the company’s stock after selling 36,076 shares during the period. Corient Private Wealth LLC’s holdings in Constellation Brands were worth $28,506,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Van ECK Associates Corp boosted its stake in Constellation Brands by 1,844.7% in the fourth quarter. Van ECK Associates Corp now owns 924,274 shares of the company’s stock valued at $204,265,000 after buying an additional 876,745 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Constellation Brands in the fourth quarter worth about $105,766,000. State Street Corp lifted its holdings in shares of Constellation Brands by 6.0% in the third quarter. State Street Corp now owns 7,144,428 shares of the company’s stock worth $1,841,048,000 after acquiring an additional 402,211 shares during the last quarter. Amundi boosted its position in Constellation Brands by 54.9% in the fourth quarter. Amundi now owns 453,180 shares of the company’s stock valued at $99,373,000 after buying an additional 160,563 shares in the last quarter. Finally, OFI Invest Asset Management acquired a new stake in shares of Constellation Brands during the 4th quarter valued at $31,656,000. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director William T. Giles acquired 1,000 shares of the company’s stock in a transaction that occurred on Friday, January 17th. The shares were acquired at an average price of $186.39 per share, with a total value of $186,390.00. Following the acquisition, the director now owns 1,463 shares of the company’s stock, valued at approximately $272,688.57. This trade represents a 215.98 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 12.19% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on STZ shares. Barclays reduced their price target on Constellation Brands from $214.00 to $205.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Piper Sandler cut shares of Constellation Brands from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $245.00 to $200.00 in a research report on Monday, February 3rd. Evercore ISI dropped their price target on shares of Constellation Brands from $300.00 to $250.00 and set an “outperform” rating for the company in a research note on Monday, January 13th. Truist Financial cut their price objective on Constellation Brands from $255.00 to $190.00 and set a “hold” rating on the stock in a research note on Tuesday, January 14th. Finally, TD Cowen decreased their target price on shares of Constellation Brands from $270.00 to $260.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $252.81.

Constellation Brands Stock Down 2.4 %

Constellation Brands stock opened at $179.23 on Wednesday. The firm has a 50 day moving average price of $179.01 and a 200-day moving average price of $218.27. Constellation Brands, Inc. has a twelve month low of $160.46 and a twelve month high of $274.87. The company has a market capitalization of $32.39 billion, a P/E ratio of 48.18, a P/E/G ratio of 1.52 and a beta of 1.75. 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 earnings per share 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 firm had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.53 billion. During the same quarter in the previous year, the company posted $3.19 EPS. The firm’s revenue was down .3% compared to the same quarter last year. As a group, equities analysts predict that Constellation Brands, Inc. will post 13.5 EPS 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 issued a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date of this dividend was Friday, February 7th. Constellation Brands’s payout ratio is currently 108.60%.

Constellation Brands Profile

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.