Constellation Brands, Inc. (NYSE:STZ) Shares Sold by Transcend Capital Advisors LLC

Transcend Capital Advisors LLC lessened its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 10.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,444 shares of the company’s stock after selling 283 shares during the period. Transcend Capital Advisors LLC’s holdings in Constellation Brands were worth $540,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Centricity Wealth Management LLC acquired a new stake in shares of Constellation Brands during the 4th quarter worth about $35,000. Waterfront Wealth Inc. raised its position in shares of Constellation Brands by 2.4% during the 4th quarter. Waterfront Wealth Inc. now owns 5,328 shares of the company’s stock worth $1,178,000 after acquiring an additional 126 shares in the last quarter. Investors Asset Management of Georgia Inc. GA ADV raised its position in shares of Constellation Brands by 14.8% during the 4th quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 1,718 shares of the company’s stock worth $380,000 after acquiring an additional 221 shares in the last quarter. ING Groep NV increased its position in Constellation Brands by 3.8% during the fourth quarter. ING Groep NV now owns 94,370 shares of the company’s stock worth $20,856,000 after buying an additional 3,415 shares during the period. Finally, Corps Capital Advisors LLC acquired a new position in Constellation Brands during the fourth quarter worth approximately $552,000. Institutional investors and hedge funds own 77.34% of the company’s stock.

Constellation Brands Stock Up 2.1 %

Constellation Brands stock opened at $176.00 on Friday. 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, Inc. has a 1-year low of $160.46 and a 1-year high of $274.87. The company has a market cap of $31.81 billion, a PE ratio of 47.31, a price-to-earnings-growth ratio of 1.52 and a beta of 1.75. The stock’s 50 day moving average price is $194.29 and its 200 day moving average price is $225.79.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings results on Friday, January 10th. The company reported $3.25 earnings per share 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 analysts’ expectations of $2.53 billion. During the same quarter last year, the firm earned $3.19 earnings per share. The firm’s quarterly revenue was down .3% compared to the same quarter last year. On average, sell-side analysts predict that Constellation Brands, Inc. will post 13.5 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 7th were given a dividend of $1.01 per share. The ex-dividend date was Friday, February 7th. This represents a $4.04 dividend on an annualized basis and a yield of 2.30%. Constellation Brands’s payout ratio is 108.60%.

Analysts Set New Price Targets

Several research firms have commented on STZ. Morgan Stanley cut their price target on Constellation Brands from $280.00 to $220.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. Roth Capital cut their price target on Constellation Brands from $298.00 to $284.00 and set a “buy” rating on the stock in a research report on Friday, January 17th. Truist Financial cut their price target 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. Needham & Company LLC reaffirmed a “buy” rating and set a $240.00 price target on shares of Constellation Brands in a research report on Monday, January 27th. Finally, BNP Paribas began 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. Ten research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $254.29.

Insiders Place Their Bets

In other news, Director William T. Giles bought 1,000 shares of the firm’s stock in a transaction on Friday, January 17th. The shares were bought at an average cost of $186.39 per share, for a total transaction of $186,390.00. Following the completion of the transaction, the director now owns 1,463 shares in the company, valued at $272,688.57. This trade represents a 215.98 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 12.19% of the stock is owned by company 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.