Corebridge Financial Inc. Has $7.93 Million Holdings in Constellation Brands, Inc. (NYSE:STZ)

Corebridge Financial Inc. lowered its position in Constellation Brands, Inc. (NYSE:STZ) by 4.9% during the fourth quarter, Holdings Channel reports. The firm owned 35,882 shares of the company’s stock after selling 1,854 shares during the period. Corebridge Financial Inc.’s holdings in Constellation Brands were worth $7,930,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Constellation Brands by 13.3% during the fourth quarter. Vanguard Group Inc. now owns 15,534,787 shares of the company’s stock worth $3,433,188,000 after buying an additional 1,821,969 shares during the last quarter. Van ECK Associates Corp raised its position in shares of Constellation Brands by 1,844.7% in the 4th quarter. Van ECK Associates Corp now owns 924,274 shares of the company’s stock worth $204,265,000 after acquiring an additional 876,745 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Constellation Brands in the 4th quarter valued at about $105,766,000. State Street Corp boosted its position in shares of Constellation Brands by 6.0% during the 3rd quarter. State Street Corp now owns 7,144,428 shares of the company’s stock valued at $1,841,048,000 after purchasing an additional 402,211 shares in the last quarter. Finally, Amundi grew its stake in Constellation Brands by 54.9% during the fourth quarter. Amundi now owns 453,180 shares of the company’s stock worth $99,373,000 after purchasing an additional 160,563 shares during the period. 77.34% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on STZ shares. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $203.00 price target (down from $262.00) on shares of Constellation Brands in a research note on Monday, January 13th. TD Cowen cut 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. UBS Group reduced their price target on shares of Constellation Brands from $265.00 to $223.00 and set a “buy” rating for the company in a report on Friday, January 17th. Wells Fargo & Company dropped their price objective on shares of Constellation Brands from $295.00 to $275.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Finally, Truist Financial reduced their target price on Constellation Brands from $255.00 to $190.00 and set a “hold” rating for the company in a research note on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, Constellation Brands currently has a consensus rating of “Hold” and an average price target of $249.18.

Constellation Brands Price Performance

Constellation Brands stock opened at $184.35 on Friday. Constellation Brands, Inc. has a 52 week low of $160.46 and a 52 week high of $274.87. The company’s 50 day moving average price is $177.20 and its two-hundred day moving average price is $215.45. The stock has a market cap of $33.32 billion, a P/E ratio of 49.56, a P/E/G ratio of 1.52 and a beta of 1.75. 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 issued its quarterly earnings results on Friday, January 10th. The company reported $3.25 EPS for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.08). The business had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.53 billion. Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The business’s revenue was down .3% compared to the same quarter last year. During the same quarter last year, the business posted $3.19 earnings per share. On average, equities 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 disclosed a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 7th were issued 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 2.19%. Constellation Brands’s dividend payout ratio (DPR) is presently 108.60%.

Insiders Place Their Bets

In related news, Director William T. Giles purchased 1,000 shares of the stock in a transaction that occurred on Friday, January 17th. The shares were bought at an average price of $186.39 per share, with a total value of $186,390.00. Following the acquisition, the director now owns 1,463 shares of the company’s stock, valued at $272,688.57. This trade represents a 215.98 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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.