UNIVEST FINANCIAL Corp Reduces Stock Holdings in Constellation Brands, Inc. (NYSE:STZ)

UNIVEST FINANCIAL Corp reduced its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 33.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,142 shares of the company’s stock after selling 575 shares during the quarter. UNIVEST FINANCIAL Corp’s holdings in Constellation Brands were worth $252,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Allworth Financial LP grew its position in Constellation Brands by 0.8% during the fourth quarter. Allworth Financial LP now owns 7,357 shares of the company’s stock valued at $1,626,000 after buying an additional 59 shares during the period. BSW Wealth Partners raised its holdings in Constellation Brands by 4.2% in the 4th quarter. BSW Wealth Partners now owns 1,563 shares of the company’s stock worth $345,000 after purchasing an additional 63 shares during the period. Philip James Wealth Mangement LLC lifted its position in Constellation Brands by 8.0% during the fourth quarter. Philip James Wealth Mangement LLC now owns 923 shares of the company’s stock valued at $204,000 after purchasing an additional 68 shares in the last quarter. Oak Asset Management LLC lifted its position in Constellation Brands by 0.4% during the fourth quarter. Oak Asset Management LLC now owns 17,611 shares of the company’s stock valued at $3,892,000 after purchasing an additional 71 shares in the last quarter. Finally, Barden Capital Management Inc. grew its holdings in Constellation Brands by 1.3% during the fourth quarter. Barden Capital Management Inc. now owns 5,574 shares of the company’s stock valued at $1,232,000 after purchasing an additional 72 shares during the period. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on STZ shares. Truist Financial lowered their price objective 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. Evercore ISI lowered their price target on shares of Constellation Brands from $300.00 to $250.00 and set an “outperform” rating on the stock in a report on Monday, January 13th. Royal Bank of Canada reduced their price objective on shares of Constellation Brands from $293.00 to $289.00 and set an “outperform” rating for the company in a research note on Friday, March 7th. JPMorgan Chase & Co. restated a “neutral” rating and set a $203.00 target price (down previously from $262.00) on shares of Constellation Brands in a research note on Monday, January 13th. Finally, Morgan Stanley lowered Constellation Brands from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $220.00 to $202.00 in a research note on Thursday, February 27th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $250.41.

Insider Buying and Selling

In other news, Director William T. Giles bought 1,000 shares of Constellation Brands stock in a transaction dated 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 completion of the purchase, the director now owns 1,463 shares in the company, valued at $272,688.57. The trade was a 215.98 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 12.19% of the stock is owned by corporate insiders.

Constellation Brands Price Performance

Constellation Brands stock opened at $184.05 on Thursday. Constellation Brands, Inc. has a 52-week low of $160.46 and a 52-week high of $274.87. The company has a market cap of $33.26 billion, a price-to-earnings ratio of 49.48, a PEG ratio of 1.52 and a beta of 0.90. The firm’s fifty day moving average is $177.20 and its 200 day moving average is $215.67. 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 announced its quarterly 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 business had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.53 billion. During the same period in the previous year, the business posted $3.19 EPS. The firm’s revenue was down .3% on a year-over-year basis. Sell-side analysts forecast that Constellation Brands, Inc. will post 13.5 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 7th were issued a dividend of $1.01 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $4.04 annualized dividend and a yield of 2.20%. Constellation Brands’s payout ratio is presently 108.60%.

Constellation Brands Company 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.