Sandy Spring Bank Has $2.76 Million Holdings in Constellation Brands, Inc. (NYSE:STZ)

Sandy Spring Bank trimmed its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 21.9% in the 4th quarter, Holdings Channel reports. The institutional investor owned 12,484 shares of the company’s stock after selling 3,507 shares during the period. Sandy Spring Bank’s holdings in Constellation Brands were worth $2,759,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Allworth Financial LP lifted its holdings in shares of Constellation Brands by 0.8% during the 4th quarter. Allworth Financial LP now owns 7,357 shares of the company’s stock valued at $1,626,000 after buying an additional 59 shares during the last quarter. BSW Wealth Partners lifted its holdings in shares of Constellation Brands by 4.2% during the 4th quarter. BSW Wealth Partners now owns 1,563 shares of the company’s stock valued at $345,000 after buying an additional 63 shares during the last quarter. Philip James Wealth Mangement LLC lifted its holdings in Constellation Brands by 8.0% in the 4th quarter. Philip James Wealth Mangement LLC now owns 923 shares of the company’s stock worth $204,000 after purchasing an additional 68 shares during the last quarter. Oak Asset Management LLC lifted its holdings in Constellation Brands by 0.4% in the 4th quarter. Oak Asset Management LLC now owns 17,611 shares of the company’s stock worth $3,892,000 after purchasing an additional 71 shares during the last quarter. Finally, Hartford Funds Management Co LLC lifted its holdings in Constellation Brands by 4.2% in the 3rd quarter. Hartford Funds Management Co LLC now owns 1,797 shares of the company’s stock worth $463,000 after purchasing an additional 72 shares during the last quarter. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Constellation Brands Stock Performance

Shares of NYSE:STZ opened at $178.96 on Friday. The business’s fifty day moving average price is $177.40 and its two-hundred day moving average price is $217.72. Constellation Brands, Inc. has a fifty-two week low of $160.46 and a fifty-two week high of $274.87. The stock has a market capitalization of $32.34 billion, a price-to-earnings ratio of 48.11, a price-to-earnings-growth ratio of 1.52 and a beta of 1.75. 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 (NYSE:STZ) last announced 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). Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. The company had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.53 billion. During the same quarter last year, the company earned $3.19 earnings per share. The business’s revenue was down .3% on a year-over-year basis. As a group, analysts predict that Constellation Brands, Inc. will post 13.5 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 7th were paid a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date of this dividend was Friday, February 7th. Constellation Brands’s dividend payout ratio is currently 108.60%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on STZ shares. JPMorgan Chase & Co. restated a “neutral” rating and issued a $203.00 target price (down from $262.00) on shares of Constellation Brands in a report on Monday, January 13th. TD Cowen dropped their price target on Constellation Brands from $270.00 to $260.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. Argus downgraded Constellation Brands from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Royal Bank of Canada dropped their price target on Constellation Brands from $293.00 to $289.00 and set an “outperform” rating on the stock in a research report on Friday, March 7th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $201.00 price target (down from $310.00) on shares of Constellation Brands in a research report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, Constellation Brands currently has an average rating of “Hold” and a consensus price target of $250.41.

Insiders Place Their Bets

In other Constellation Brands news, Director William T. Giles acquired 1,000 shares of Constellation Brands stock in a transaction 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 completion of the purchase, the director now owns 1,463 shares in the company, valued at $272,688.57. This trade represents a 215.98 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 12.19% of the company’s stock.

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.