Los Angeles Capital Management LLC Reduces Position in Constellation Brands, Inc. (NYSE:STZ)

Los Angeles Capital Management LLC trimmed its holdings in Constellation Brands, Inc. (NYSE:STZ) by 78.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 851 shares of the company’s stock after selling 3,125 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Constellation Brands were worth $231,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of STZ. Burns Matteson Capital Management LLC lifted its position in shares of Constellation Brands by 1.7% during the fourth quarter. Burns Matteson Capital Management LLC now owns 2,499 shares of the company’s stock worth $604,000 after purchasing an additional 42 shares during the last quarter. 1620 Investment Advisors Inc. boosted its position in Constellation Brands by 1.8% in the 4th quarter. 1620 Investment Advisors Inc. now owns 2,352 shares of the company’s stock valued at $569,000 after buying an additional 42 shares during the period. FAS Wealth Partners Inc. grew its stake in Constellation Brands by 3.5% in the 4th quarter. FAS Wealth Partners Inc. now owns 1,277 shares of the company’s stock worth $309,000 after acquiring an additional 43 shares in the last quarter. Smithfield Trust Co increased its position in shares of Constellation Brands by 5.3% during the fourth quarter. Smithfield Trust Co now owns 854 shares of the company’s stock worth $207,000 after acquiring an additional 43 shares during the period. Finally, Copperwynd Financial LLC raised its stake in shares of Constellation Brands by 1.6% during the fourth quarter. Copperwynd Financial LLC now owns 2,779 shares of the company’s stock valued at $672,000 after acquiring an additional 43 shares in the last quarter. 77.34% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have commented on STZ shares. HSBC raised their price objective on Constellation Brands from $290.00 to $300.00 and gave the stock a “buy” rating in a report on Friday, April 12th. JPMorgan Chase & Co. decreased their price objective on Constellation Brands from $296.00 to $291.00 and set an “overweight” rating for the company in a report on Thursday, June 20th. Barclays dropped their target price on shares of Constellation Brands from $295.00 to $288.00 and set an “overweight” rating on the stock in a report on Wednesday, May 29th. BMO Capital Markets boosted their price target on shares of Constellation Brands from $290.00 to $315.00 and gave the company an “outperform” rating in a report on Friday, April 12th. Finally, Piper Sandler began coverage on shares of Constellation Brands in a research note on Friday, March 22nd. They set an “overweight” rating and a $300.00 price objective on the stock. Three analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, Constellation Brands has an average rating of “Moderate Buy” and a consensus price target of $298.37.

Constellation Brands Stock Down 2.0 %

NYSE:STZ opened at $255.91 on Friday. The company has a current ratio of 1.19, a quick ratio of 0.53 and a debt-to-equity ratio of 1.06. Constellation Brands, Inc. has a twelve month low of $227.50 and a twelve month high of $274.87. The company has a market cap of $46.83 billion, a PE ratio of 27.28, a P/E/G ratio of 1.74 and a beta of 0.89. The company’s 50 day moving average is $255.46 and its two-hundred day moving average is $253.39.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings data on Thursday, April 11th. The company reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates of $2.10 by $0.16. Constellation Brands had a net margin of 16.13% and a return on equity of 23.06%. The firm had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.09 billion. During the same period in the previous year, the company earned $1.98 earnings per share. The business’s quarterly revenue was up 7.1% compared to the same quarter last year. Analysts anticipate that Constellation Brands, Inc. will post 13.67 EPS for the current year.

Constellation Brands Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 17th. Investors of record on Friday, May 3rd were issued a $1.01 dividend. This represents a $4.04 annualized dividend and a yield of 1.58%. The ex-dividend date of this dividend was Thursday, May 2nd. This is an increase from Constellation Brands’s previous quarterly dividend of $0.89. Constellation Brands’s dividend payout ratio is 43.07%.

Insiders Place Their Bets

In other news, CEO William A. Newlands sold 25,000 shares of the stock in a transaction on Friday, May 10th. The shares were sold at an average price of $261.54, for a total value of $6,538,500.00. Following the sale, the chief executive officer now owns 14,700 shares in the company, valued at $3,844,638. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO William A. Newlands sold 25,000 shares of the company’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $261.54, for a total value of $6,538,500.00. Following the sale, the chief executive officer now owns 14,700 shares in the company, valued at $3,844,638. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michael Mcgrew sold 3,237 shares of Constellation Brands stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $255.50, for a total value of $827,053.50. Following the transaction, the executive vice president now owns 1,731 shares of the company’s stock, valued at $442,270.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 48,031 shares of company stock valued at $12,582,321. 12.19% of the stock is owned by insiders.

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.