Oppenheimer Asset Management Inc. Sells 1,324 Shares of Constellation Brands, Inc. (NYSE:STZ)

Oppenheimer Asset Management Inc. cut its holdings in Constellation Brands, Inc. (NYSE:STZ) by 18.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,709 shares of the company’s stock after selling 1,324 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Constellation Brands were worth $1,262,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Compagnie Lombard Odier SCmA bought a new stake in Constellation Brands during the 4th quarter worth about $27,000. Union Bancaire Privee UBP SA acquired a new stake in shares of Constellation Brands in the fourth quarter valued at about $28,000. Versant Capital Management Inc raised its holdings in Constellation Brands by 887.5% during the fourth quarter. Versant Capital Management Inc now owns 158 shares of the company’s stock worth $35,000 after acquiring an additional 142 shares in the last quarter. Centricity Wealth Management LLC bought a new stake in Constellation Brands during the fourth quarter worth about $35,000. Finally, Whipplewood Advisors LLC acquired a new position in Constellation Brands during the fourth quarter valued at approximately $36,000. Institutional investors and hedge funds own 77.34% of the company’s stock.

Constellation Brands Price Performance

NYSE:STZ opened at $175.38 on Tuesday. 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 firm has a market cap of $31.70 billion, a price-to-earnings ratio of 47.15, a P/E/G ratio of 1.52 and a beta of 1.75. Constellation Brands, Inc. has a 52 week low of $160.46 and a 52 week high of $274.87. The firm’s 50-day simple moving average is $187.98 and its 200 day simple moving average is $222.99.

Constellation Brands (NYSE:STZ) last released 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). The business had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.53 billion. Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. The firm’s quarterly revenue was down .3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.19 earnings per share. As a group, sell-side analysts predict that Constellation Brands, Inc. will post 13.5 earnings per share for the current year.

Constellation Brands Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on STZ shares. Barclays dropped their price objective on Constellation Brands from $282.00 to $214.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 14th. Evercore ISI cut their price target on shares of Constellation Brands from $300.00 to $250.00 and set an “outperform” rating for the company in a research note on Monday, January 13th. Piper Sandler lowered shares of Constellation Brands from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $245.00 to $200.00 in a research note on Monday, February 3rd. Truist Financial cut their target price on shares of Constellation Brands from $255.00 to $190.00 and set a “hold” rating for the company in a research note on Tuesday, January 14th. Finally, Argus cut Constellation Brands from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Constellation Brands currently has a consensus rating of “Hold” and a consensus target price of $253.43.

Insider Activity at Constellation Brands

In other news, Director William T. Giles acquired 1,000 shares of Constellation Brands stock in a transaction on Friday, January 17th. The shares were purchased at an average cost of $186.39 per share, for a total transaction of $186,390.00. Following the completion of the purchase, the director now directly owns 1,463 shares of the company’s stock, valued at approximately $272,688.57. This represents a 215.98 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 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.