Zevenbergen Capital Investments LLC Sells 2,275 Shares of Constellation Brands, Inc. (NYSE:STZ)

Zevenbergen Capital Investments LLC decreased its holdings in Constellation Brands, Inc. (NYSE:STZ) by 35.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,185 shares of the company’s stock after selling 2,275 shares during the period. Zevenbergen Capital Investments LLC’s holdings in Constellation Brands were worth $925,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. lifted its position in Constellation Brands by 13.3% during the fourth quarter. Vanguard Group Inc. now owns 15,534,787 shares of the company’s stock valued at $3,433,188,000 after purchasing an additional 1,821,969 shares during the period. Van ECK Associates Corp lifted its holdings in shares of Constellation Brands by 1,844.7% during the 4th 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 during the period. Raymond James Financial Inc. purchased a new position in shares of Constellation Brands in the 4th quarter worth $105,766,000. State Street Corp grew 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 period. Finally, Amundi increased its position in Constellation Brands by 54.9% during the fourth quarter. Amundi now owns 453,180 shares of the company’s stock valued at $99,373,000 after acquiring an additional 160,563 shares during the last quarter. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Insider Activity

In related news, Director William T. Giles purchased 1,000 shares of the firm’s stock in a transaction that occurred on Friday, January 17th. The shares were bought at an average price of $186.39 per share, for a total transaction 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 represents a 215.98 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 12.19% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Evercore ISI dropped their target price on Constellation Brands from $300.00 to $250.00 and set an “outperform” rating on the stock in a research report on Monday, January 13th. Morgan Stanley lowered shares of Constellation Brands from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $220.00 to $202.00 in a research report on Thursday, February 27th. Truist Financial decreased their price target on shares of Constellation Brands from $255.00 to $190.00 and set a “hold” rating on the stock in a research report on Tuesday, January 14th. 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 note on Monday, January 13th. Finally, Argus cut Constellation Brands from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $250.41.

Constellation Brands Price Performance

Shares of Constellation Brands stock opened at $177.73 on Monday. The company has a current ratio of 1.10, a quick ratio of 0.46 and a debt-to-equity ratio of 1.26. Constellation Brands, Inc. has a 12 month low of $160.46 and a 12 month high of $274.87. The stock has a 50 day moving average of $177.32 and a 200 day moving average of $216.87. The firm has a market cap of $32.12 billion, a PE ratio of 47.78, a PEG ratio of 1.52 and a beta of 0.90.

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

Constellation Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 7th were paid a dividend of $1.01 per share. The ex-dividend date was Friday, February 7th. This represents a $4.04 annualized dividend and a yield of 2.27%. Constellation Brands’s payout ratio is currently 108.60%.

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.