HighTower Advisors LLC Cuts Position in Constellation Brands, Inc. (NYSE:STZ)

HighTower Advisors LLC lessened its holdings in Constellation Brands, Inc. (NYSE:STZ) by 4.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 228,141 shares of the company’s stock after selling 9,547 shares during the quarter. HighTower Advisors LLC’s holdings in Constellation Brands were worth $50,419,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Metis Global Partners LLC grew its holdings 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 purchasing an additional 46 shares during the period. Tokio Marine Asset Management Co. Ltd. grew its holdings 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 purchasing an additional 52 shares during the period. KCM Investment Advisors LLC grew its holdings 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 purchasing an additional 56 shares during the period. Allworth Financial LP grew its holdings 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 purchasing an additional 59 shares during the period. Finally, BSW Wealth Partners grew its holdings 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 purchasing an additional 63 shares during the period. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Constellation Brands Stock Down 1.3 %

STZ opened at $181.41 on Friday. The company has a current ratio of 1.10, a quick ratio of 0.46 and a debt-to-equity ratio of 1.26. Constellation Brands, Inc. has a 1-year low of $160.46 and a 1-year high of $274.87. The company has a market capitalization of $32.79 billion, a PE ratio of 48.77, a PEG ratio of 1.52 and a beta of 1.75. The firm’s 50 day simple moving average is $181.39 and its two-hundred day simple moving average is $219.80.

Constellation Brands (NYSE:STZ) last released 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). Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The business had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.53 billion. During the same quarter in the previous year, the business posted $3.19 earnings per share. The firm’s revenue was down .3% on a year-over-year basis. As a group, equities analysts forecast that Constellation Brands, Inc. will post 13.5 EPS for the current year.

Constellation Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 7th were paid a $1.01 dividend. The ex-dividend date was Friday, February 7th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 2.23%. Constellation Brands’s dividend payout ratio (DPR) is presently 108.60%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on STZ. Morgan Stanley downgraded shares of Constellation Brands from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $220.00 to $202.00 in a research note on Thursday, February 27th. Barclays dropped their target price on shares of Constellation Brands from $214.00 to $205.00 and set an “overweight” rating on the stock in a research note on Thursday. Truist Financial dropped their target price on shares of Constellation Brands from $255.00 to $190.00 and set a “hold” rating on the stock in a research note on Tuesday, January 14th. Needham & Company LLC reiterated a “buy” rating and issued a $240.00 target price on shares of Constellation Brands in a research note on Monday, January 27th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $203.00 target price (down previously from $262.00) on shares of Constellation Brands in a research note on Monday, January 13th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, Constellation Brands presently has an average rating of “Hold” and an average target price of $252.81.

Insider Transactions at Constellation Brands

In other news, Director William T. Giles acquired 1,000 shares of Constellation Brands stock in a transaction dated Friday, January 17th. The stock was purchased at an average cost of $186.39 per share, with a total value of $186,390.00. Following the completion of the purchase, the director now directly owns 1,463 shares in the company, valued at approximately $272,688.57. This trade represents a 215.98 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 12.19% of the company’s stock.

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.