Capital Group Private Client Services Inc. Sells 108,587 Shares of Constellation Brands, Inc. (NYSE:STZ)

Capital Group Private Client Services Inc. trimmed its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 57.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 79,103 shares of the company’s stock after selling 108,587 shares during the period. Capital Group Private Client Services Inc.’s holdings in Constellation Brands were worth $17,482,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Norges Bank purchased a new position in Constellation Brands during the 4th quarter valued at about $445,883,000. Vanguard Group Inc. increased its stake in shares of Constellation Brands by 13.3% during the fourth quarter. Vanguard Group Inc. now owns 15,534,787 shares of the company’s stock valued at $3,433,188,000 after buying an additional 1,821,969 shares during the period. Van ECK Associates Corp raised its holdings in shares of Constellation Brands by 1,844.7% during the fourth quarter. Van ECK Associates Corp now owns 924,274 shares of the company’s stock valued at $204,265,000 after acquiring an additional 876,745 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC lifted its stake in Constellation Brands by 42.9% in the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 2,454,258 shares of the company’s stock worth $542,391,000 after acquiring an additional 736,780 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in Constellation Brands in the fourth quarter valued at $105,766,000. 77.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have commented on STZ. The Goldman Sachs Group decreased their price objective on shares of Constellation Brands from $260.00 to $225.00 and set a “buy” rating for the company in a report on Friday, April 11th. Truist Financial lowered their price objective on shares of Constellation Brands from $255.00 to $190.00 and set a “hold” rating for the company in a report on Tuesday, January 14th. Wells Fargo & Company reduced their target price on Constellation Brands from $230.00 to $210.00 and set an “overweight” rating on the stock in a report on Wednesday, April 2nd. Roth Mkm lowered their target price on Constellation Brands from $284.00 to $256.00 and set a “buy” rating for the company in a research note on Thursday, April 3rd. Finally, JPMorgan Chase & Co. dropped their price target on Constellation Brands from $203.00 to $194.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $224.42.

Constellation Brands Trading Up 1.9 %

NYSE:STZ opened at $186.58 on Friday. Constellation Brands, Inc. has a 52 week low of $160.46 and a 52 week high of $265.70. The stock has a market cap of $33.72 billion, a price-to-earnings ratio of 50.16, a PEG ratio of 1.52 and a beta of 1.75. The company’s 50 day moving average price is $178.56 and its 200-day moving average price is $206.89. The company has a quick ratio of 0.46, a current ratio of 1.10 and a debt-to-equity ratio of 1.26.

Constellation Brands (NYSE:STZ) last posted its earnings results on Wednesday, April 9th. The company reported $2.63 EPS for the quarter, topping analysts’ consensus estimates of $2.28 by $0.35. The business had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.14 billion. Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The company’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter last year, the company earned $2.26 EPS. On average, equities research analysts forecast that Constellation Brands, Inc. will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 29th will be issued a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date of this dividend is Tuesday, April 29th. This is an increase from Constellation Brands’s previous quarterly dividend of $1.01. Constellation Brands’s dividend payout ratio (DPR) is presently -800.00%.

Constellation Brands Company 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.