Constellation Brands, Inc. (NYSE:STZ) Stock Holdings Lessened by Bartlett & CO. Wealth Management LLC

Bartlett & CO. Wealth Management LLC cut its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 7.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,275 shares of the company’s stock after selling 1,390 shares during the quarter. Bartlett & CO. Wealth Management LLC’s holdings in Constellation Brands were worth $3,818,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of STZ. Eastern Bank purchased a new position in shares of Constellation Brands during the third quarter valued at $39,000. Versant Capital Management Inc increased its holdings in shares of 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 purchasing an additional 142 shares during the period. FSA Wealth Management LLC acquired a new stake in shares of Constellation Brands during the third quarter worth approximately $42,000. Truvestments Capital LLC acquired a new position in Constellation Brands in the 3rd quarter valued at approximately $60,000. Finally, Northwest Investment Counselors LLC purchased a new position in shares of Constellation Brands during the 3rd quarter valued at $62,000. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Constellation Brands Stock Up 0.2 %

Shares of STZ opened at $179.36 on Friday. The company has a market capitalization of $32.42 billion, a P/E ratio of 48.21, a PEG ratio of 1.61 and a beta of 1.75. Constellation Brands, Inc. has a one year low of $176.51 and a one year high of $274.87. The business’s 50 day simple moving average is $223.36 and its 200-day simple moving average is $237.32. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.10 and a quick ratio of 0.46.

Constellation Brands (NYSE:STZ) last announced its 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). Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The business 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. Constellation Brands’s revenue for the quarter was down .3% on a year-over-year basis. As a group, sell-side analysts predict that Constellation Brands, Inc. will post 13.52 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Friday, February 7th will be given a dividend of $1.01 per share. The ex-dividend date is Friday, February 7th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 2.25%. Constellation Brands’s payout ratio is 108.60%.

Analyst Upgrades and Downgrades

Several research firms have commented on STZ. BNP Paribas started coverage on shares of Constellation Brands in a research report on Monday, November 25th. They issued a “neutral” rating and a $261.00 target price for the company. Morgan Stanley dropped their target price on shares of Constellation Brands from $280.00 to $220.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. Jefferies Financial Group reiterated a “hold” rating and set a $201.00 target price (down from $310.00) on shares of Constellation Brands in a research note on Monday, January 13th. Royal Bank of Canada restated an “outperform” rating and issued a $308.00 price target on shares of Constellation Brands in a research report on Tuesday, January 7th. Finally, Truist Financial cut their price objective on shares of Constellation Brands from $255.00 to $190.00 and set a “hold” rating for the company in a research report on Tuesday, January 14th. One analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $259.05.

Insider Activity

In other news, CEO William A. Newlands sold 7,426 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The shares were 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 of the company’s stock, valued at approximately $1,725,683.76. This trade represents a 50.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William T. Giles bought 1,000 shares of the stock in a transaction on Friday, January 17th. The shares were acquired at an average cost of $186.39 per share, with a total value of $186,390.00. Following the acquisition, the director now directly owns 1,463 shares in the company, valued at approximately $272,688.57. This trade represents a 215.98 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 69,172 shares of company stock valued at $16,778,841 over the last three months. 12.19% of the stock is owned by insiders.

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.