Harbour Investments Inc. Sells 206 Shares of Constellation Brands, Inc. (NYSE:STZ)

Harbour Investments Inc. trimmed its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 11.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,588 shares of the company’s stock after selling 206 shares during the quarter. Harbour Investments Inc.’s holdings in Constellation Brands were worth $351,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans boosted its stake in shares of Constellation Brands by 13.0% in the 3rd quarter. Thrivent Financial for Lutherans now owns 7,341 shares of the company’s stock valued at $1,892,000 after purchasing an additional 845 shares during the last quarter. Pathstone Holdings LLC boosted its stake in Constellation Brands by 7.2% during the third quarter. Pathstone Holdings LLC now owns 24,933 shares of the company’s stock worth $6,425,000 after acquiring an additional 1,681 shares in the last quarter. Prospera Financial Services Inc boosted its stake in Constellation Brands by 42.5% during the third quarter. Prospera Financial Services Inc now owns 3,919 shares of the company’s stock worth $1,010,000 after acquiring an additional 1,168 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Constellation Brands during the third quarter worth $815,000. Finally, King Luther Capital Management Corp boosted its stake in Constellation Brands by 12.4% during the third quarter. King Luther Capital Management Corp now owns 1,411 shares of the company’s stock worth $364,000 after acquiring an additional 156 shares in the last quarter. 77.34% of the stock is owned by institutional investors.

Constellation Brands Stock Performance

Shares of STZ stock opened at $177.73 on Friday. The company has a market cap of $32.12 billion, a P/E ratio of 47.78, a P/E/G ratio of 1.52 and a beta of 1.75. The firm has a 50-day moving average of $177.32 and a 200-day moving average of $217.28. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.10 and a quick ratio of 0.46. Constellation Brands, Inc. has a one year low of $160.46 and a one year high of $274.87.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings results on Friday, January 10th. The company reported $3.25 earnings per share for the quarter, missing the consensus estimate of $3.33 by ($0.08). The company had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.53 billion. Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. Constellation Brands’s quarterly revenue was down .3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.19 EPS. Equities research analysts forecast that Constellation Brands, Inc. will post 13.5 EPS for the current fiscal year.

Constellation Brands Announces Dividend

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 dividend of $1.01 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $4.04 annualized dividend and a yield of 2.27%. Constellation Brands’s payout ratio is currently 108.60%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on STZ. Morgan Stanley lowered shares of Constellation Brands from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $220.00 to $202.00 in a research note on Thursday, February 27th. Jefferies Financial Group reissued a “hold” rating and set a $201.00 target price (down from $310.00) on shares of Constellation Brands in a research note on Monday, January 13th. Argus lowered shares of Constellation Brands from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Piper Sandler downgraded 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 report on Monday, February 3rd. Finally, UBS Group lowered their price objective on shares of Constellation Brands from $265.00 to $223.00 and set a “buy” rating on the stock in a report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $250.41.

Insider Activity at Constellation Brands

In related news, Director William T. Giles purchased 1,000 shares of Constellation Brands stock in a transaction that occurred on Friday, January 17th. The stock was bought at an average price of $186.39 per share, for a total transaction of $186,390.00. Following the completion of the transaction, the director now owns 1,463 shares in the company, valued at $272,688.57. This represents a 215.98 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 12.19% of the stock is owned by company insiders.

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.