PNC Financial Services Group Inc. Decreases Stock Position in Constellation Brands, Inc. (NYSE:STZ)

PNC Financial Services Group Inc. reduced its position in Constellation Brands, Inc. (NYSE:STZ) by 2.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 131,060 shares of the company’s stock after selling 3,369 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Constellation Brands were worth $28,964,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the company. Metis Global Partners LLC increased its position in Constellation Brands by 0.8% in the third quarter. Metis Global Partners LLC now owns 5,570 shares of the company’s stock worth $1,435,000 after buying an additional 46 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. increased its position in Constellation Brands by 1.3% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,205 shares of the company’s stock worth $1,084,000 after buying an additional 52 shares during the last quarter. KCM Investment Advisors LLC increased its position in Constellation Brands by 1.7% in the third quarter. KCM Investment Advisors LLC now owns 3,382 shares of the company’s stock worth $872,000 after buying an additional 56 shares during the last quarter. Allworth Financial LP increased its position in Constellation Brands by 0.8% in the fourth quarter. Allworth Financial LP now owns 7,357 shares of the company’s stock worth $1,626,000 after buying an additional 59 shares during the last quarter. Finally, BSW Wealth Partners increased its position in Constellation Brands by 4.2% in the fourth quarter. BSW Wealth Partners now owns 1,563 shares of the company’s stock worth $345,000 after buying an additional 63 shares during the last quarter. 77.34% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director William T. Giles bought 1,000 shares of the stock in a transaction dated Friday, January 17th. The stock was bought at an average price of $186.39 per share, with a total value of $186,390.00. Following the purchase, the director now owns 1,463 shares in the company, valued at approximately $272,688.57. The trade was a 215.98 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 12.19% of the company’s stock.

Constellation Brands Trading Up 4.3 %

Shares of STZ stock opened at $186.64 on Monday. The company has a quick ratio of 0.46, a current ratio of 1.10 and a debt-to-equity ratio of 1.26. The business has a 50-day moving average price of $184.27 and a two-hundred day moving average price of $221.13. Constellation Brands, Inc. has a 12-month low of $160.46 and a 12-month high of $274.87. The firm has a market cap of $33.73 billion, a P/E ratio of 50.17, a price-to-earnings-growth ratio of 1.52 and a beta of 1.75.

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

Constellation Brands Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 7th were paid a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 2.16%. The ex-dividend date was Friday, February 7th. Constellation Brands’s dividend payout ratio (DPR) is currently 108.60%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on STZ shares. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $203.00 price target (down from $262.00) on shares of Constellation Brands in a research report on Monday, January 13th. Argus cut Constellation Brands from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Piper Sandler cut Constellation Brands from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $245.00 to $200.00 in a research report on Monday, February 3rd. Jefferies Financial Group reiterated 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. Finally, Morgan Stanley cut Constellation Brands from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $220.00 to $202.00 in a research report on Thursday, February 27th. Eleven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Constellation Brands has an average rating of “Moderate Buy” and an average target price of $253.24.

Constellation Brands 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.