W.G. Shaheen & Associates DBA Whitney & Co Sells 525 Shares of Constellation Brands, Inc. (NYSE:STZ)

W.G. Shaheen & Associates DBA Whitney & Co lessened its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 0.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 74,694 shares of the company’s stock after selling 525 shares during the quarter. Constellation Brands accounts for approximately 1.7% of W.G. Shaheen & Associates DBA Whitney & Co’s investment portfolio, making the stock its 19th largest holding. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in Constellation Brands were worth $16,507,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of STZ. Compagnie Lombard Odier SCmA bought a new position in Constellation Brands during the fourth quarter worth $27,000. Union Bancaire Privee UBP SA bought a new stake in shares of Constellation Brands during the 4th quarter valued at about $28,000. Versant Capital Management Inc raised its holdings in shares of Constellation Brands by 887.5% during the 4th quarter. Versant Capital Management Inc now owns 158 shares of the company’s stock valued at $35,000 after buying an additional 142 shares in the last quarter. Centricity Wealth Management LLC purchased a new stake in Constellation Brands in the 4th quarter worth approximately $35,000. Finally, Eastern Bank bought a new position in shares of Constellation Brands in the 3rd quarter worth approximately $39,000. 77.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on STZ shares. Roth Capital lowered their price target on Constellation Brands from $298.00 to $284.00 and set a “buy” rating for the company in a research report on Friday, January 17th. Piper Sandler cut shares of Constellation Brands from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $245.00 to $200.00 in a report on Monday, February 3rd. TD Cowen decreased their target price on shares of Constellation Brands from $270.00 to $260.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Barclays cut their target price on shares of Constellation Brands from $282.00 to $214.00 and set an “overweight” rating for the company in a research note on Tuesday, January 14th. Finally, Evercore ISI lowered their price target on Constellation Brands from $300.00 to $250.00 and set an “outperform” rating for the company in a research report on Monday, January 13th. Ten analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $254.29.

Constellation Brands Price Performance

NYSE:STZ opened at $176.00 on Monday. The company has a market capitalization of $31.81 billion, a price-to-earnings ratio of 47.31, 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. The company has a 50-day moving average of $194.29 and a 200-day moving average of $225.71. Constellation Brands, Inc. has a 52 week low of $160.46 and a 52 week high of $274.87.

Constellation Brands (NYSE:STZ) last announced its earnings results on Friday, January 10th. The company reported $3.25 earnings per share (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 firm had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.53 billion. During the same period in the prior year, the business posted $3.19 EPS. The firm’s quarterly revenue was down .3% compared to the same quarter last year. As a group, equities research analysts anticipate that Constellation Brands, Inc. will post 13.5 earnings per share 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. The ex-dividend date was Friday, February 7th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 2.30%. Constellation Brands’s dividend payout ratio (DPR) is presently 108.60%.

Insiders Place Their Bets

In related news, Director William T. Giles acquired 1,000 shares of the stock in a transaction on 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 transaction, the director now owns 1,463 shares in the company, valued at approximately $272,688.57. The trade was a 215.98 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 12.19% of the company’s stock.

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.