Huntington National Bank Lowers Holdings in Constellation Brands, Inc. (NYSE:STZ)

Huntington National Bank cut its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 53.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 138,538 shares of the company’s stock after selling 158,615 shares during the period. Huntington National Bank’s holdings in Constellation Brands were worth $30,617,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in STZ. Mainstream Capital Management LLC bought a new stake in shares of Constellation Brands in the 4th quarter valued at about $25,000. SBI Securities Co. Ltd. bought a new stake in Constellation Brands in the fourth quarter valued at approximately $26,000. Compagnie Lombard Odier SCmA bought a new stake in Constellation Brands in the fourth quarter valued at approximately $27,000. Union Bancaire Privee UBP SA bought a new position in shares of Constellation Brands in the fourth quarter worth approximately $28,000. Finally, Versant Capital Management Inc increased its stake in shares of Constellation Brands by 887.5% in the fourth quarter. Versant Capital Management Inc now owns 158 shares of the company’s stock worth $35,000 after buying an additional 142 shares during the period. 77.34% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

STZ has been the subject of several analyst reports. Morgan Stanley cut shares of Constellation Brands from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $220.00 to $202.00 in a research report on Thursday, February 27th. UBS Group reduced their price target on Constellation Brands from $265.00 to $223.00 and set a “buy” rating on the stock in a report on Friday, January 17th. Barclays dropped their price objective on Constellation Brands from $205.00 to $203.00 and set an “overweight” rating for the company in a report on Thursday, March 27th. Wells Fargo & Company reduced their target price on Constellation Brands from $295.00 to $275.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Finally, Truist Financial decreased their price objective on Constellation Brands from $255.00 to $190.00 and set a “hold” rating for the company in a report on Tuesday, January 14th. 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. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $249.18.

Constellation Brands Stock Performance

NYSE:STZ opened at $184.98 on Wednesday. The company has a current ratio of 1.10, a quick ratio of 0.46 and a debt-to-equity ratio of 1.26. The stock has a market capitalization of $33.43 billion, a P/E ratio of 49.73, a P/E/G ratio of 1.52 and a beta of 1.75. The stock has a 50-day moving average price of $177.22 and a 200 day moving average price of $213.55. Constellation Brands, Inc. has a 12-month low of $160.46 and a 12-month high of $274.87.

Constellation Brands (NYSE:STZ) last issued its earnings results on Friday, January 10th. The company reported $3.25 earnings per share (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 firm had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.53 billion. During the same period last year, the firm posted $3.19 earnings per share. The company’s revenue for the quarter was down .3% compared to the same quarter last year. Equities research analysts forecast that Constellation Brands, Inc. will post 13.5 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 7th were issued a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date of this dividend was Friday, February 7th. Constellation Brands’s dividend payout ratio (DPR) is presently 108.60%.

Insider Buying and Selling

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

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.