Summit Financial LLC Decreases Holdings in Constellation Brands, Inc. (NYSE:STZ)

Summit Financial LLC lowered its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 5.3% in the fourth quarter, Holdings Channel reports. The firm owned 1,153 shares of the company’s stock after selling 64 shares during the period. Summit Financial LLC’s holdings in Constellation Brands were worth $255,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of STZ. Mainstream Capital Management LLC purchased a new stake in shares of Constellation Brands during the fourth quarter worth $25,000. SBI Securities Co. Ltd. purchased a new position in shares of Constellation Brands in the fourth quarter worth about $26,000. Compagnie Lombard Odier SCmA acquired a new position in Constellation Brands during the fourth quarter worth about $27,000. Union Bancaire Privee UBP SA purchased a new stake in Constellation Brands during the 4th quarter valued at about $28,000. Finally, Versant Capital Management Inc raised its holdings in Constellation Brands by 887.5% in the 4th quarter. Versant Capital Management Inc now owns 158 shares of the company’s stock valued at $35,000 after acquiring an additional 142 shares during the last quarter. Institutional investors and hedge funds own 77.34% of the company’s stock.

Constellation Brands Trading Down 4.2 %

NYSE STZ opened at $173.79 on Friday. Constellation Brands, Inc. has a one year low of $160.46 and a one year high of $274.87. The firm has a 50 day simple moving average of $177.14 and a 200-day simple moving average of $212.55. The firm has a market cap of $31.41 billion, a price-to-earnings ratio of 46.72, a PEG ratio of 1.52 and a beta of 1.75. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.46 and a current ratio of 1.10.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings results on Friday, January 10th. The company reported $3.25 EPS for the quarter, missing the consensus estimate of $3.33 by ($0.08). The business had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.53 billion. Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The business’s revenue was down .3% on a year-over-year basis. During the same quarter last year, the firm earned $3.19 EPS. Equities research analysts anticipate that Constellation Brands, Inc. will post 13.5 EPS for the current fiscal year.

Constellation Brands Announces Dividend

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 2.32%. The ex-dividend date of this dividend was Friday, February 7th. Constellation Brands’s dividend payout ratio is currently 108.60%.

Insider Activity

In other news, Director William T. Giles bought 1,000 shares of Constellation Brands stock in a transaction that occurred on Friday, January 17th. The shares were purchased at an average price of $186.39 per share, with a total value of $186,390.00. Following the completion of the acquisition, the director now directly owns 1,463 shares in the company, valued at $272,688.57. The trade was a 215.98 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 12.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on STZ shares. Evercore ISI lowered their price objective 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. Truist Financial lowered 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. StockNews.com cut shares of Constellation Brands from a “hold” rating to a “sell” rating in a research report on Friday, March 14th. Barclays decreased their target price on shares of Constellation Brands from $205.00 to $203.00 and set an “overweight” rating on the stock in a report on Thursday, March 27th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and set a $203.00 price target (down previously from $262.00) on shares of Constellation Brands in a report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $244.32.

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.