Brown Financial Advisors Decreases Position in Constellation Brands, Inc. (NYSE:STZ)

Brown Financial Advisors lessened its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 41.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,614 shares of the company’s stock after selling 1,147 shares during the period. Brown Financial Advisors’ holdings in Constellation Brands were worth $416,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in STZ. International Assets Investment Management LLC raised its stake in Constellation Brands by 23,184.7% in the 3rd quarter. International Assets Investment Management LLC now owns 499,689 shares of the company’s stock worth $128,765,000 after acquiring an additional 497,543 shares during the last quarter. State Street Corp raised its stake in Constellation Brands by 6.0% in the 3rd 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. Dimensional Fund Advisors LP raised its stake in Constellation Brands by 31.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,002,332 shares of the company’s stock worth $257,865,000 after acquiring an additional 241,982 shares during the last quarter. NFJ Investment Group LLC raised its stake in Constellation Brands by 617.3% in the 3rd quarter. NFJ Investment Group LLC now owns 108,382 shares of the company’s stock worth $27,929,000 after acquiring an additional 93,273 shares during the last quarter. Finally, World Investment Advisors LLC raised its stake in Constellation Brands by 4,601.2% in the 3rd quarter. World Investment Advisors LLC now owns 87,771 shares of the company’s stock worth $22,618,000 after acquiring an additional 85,904 shares during the last quarter. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Wall Street Analyst Weigh In

STZ has been the subject of a number of research analyst reports. Roth Mkm restated a “buy” rating and issued a $298.00 target price on shares of Constellation Brands in a research note on Friday, October 4th. Barclays reduced their target price on Constellation Brands from $309.00 to $300.00 and set an “overweight” rating for the company in a research note on Monday, October 7th. Evercore ISI cut their price target on Constellation Brands from $310.00 to $300.00 and set an “outperform” rating on the stock in a research report on Friday, October 4th. Truist Financial cut their price target on Constellation Brands from $265.00 to $255.00 and set a “hold” rating on the stock in a research report on Friday, October 4th. Finally, BNP Paribas initiated coverage on Constellation Brands in a research report on Monday, November 25th. They set a “neutral” rating and a $261.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, Constellation Brands has an average rating of “Moderate Buy” and a consensus price target of $288.70.

Insider Transactions at Constellation Brands

In other news, major shareholder Wildstar Partners Llc sold 660 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $241.00, for a total transaction of $159,060.00. Following the transaction, the insider now directly owns 1,736,884 shares in the company, valued at $418,589,044. The trade was a 0.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO William A. Newlands sold 7,426 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $237.24, for a total value of $1,761,744.24. Following the transaction, the chief executive officer now owns 7,274 shares in the company, valued at approximately $1,725,683.76. This represents a 50.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 189,956 shares of company stock worth $46,058,091 in the last ninety days. Insiders own 12.19% of the company’s stock.

Constellation Brands Price Performance

NYSE:STZ opened at $242.60 on Wednesday. Constellation Brands, Inc. has a 12 month low of $224.76 and a 12 month high of $274.87. The stock has a 50 day moving average of $239.83 and a two-hundred day moving average of $246.21. The company has a current ratio of 1.25, a quick ratio of 0.53 and a debt-to-equity ratio of 1.31. The firm has a market cap of $44.05 billion, a P/E ratio of 78.51, a price-to-earnings-growth ratio of 1.69 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings data on Thursday, October 3rd. The company reported $4.32 EPS for the quarter, topping the consensus estimate of $4.08 by $0.24. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The company had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.95 billion. During the same period in the previous year, the business earned $3.70 EPS. Constellation Brands’s quarterly revenue was up 2.9% on a year-over-year basis. On average, analysts expect that Constellation Brands, Inc. will post 13.57 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th were paid a dividend of $1.01 per share. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $4.04 annualized dividend and a yield of 1.67%. Constellation Brands’s dividend payout ratio (DPR) is currently 130.74%.

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.