Fisher Asset Management LLC Lowers Stock Holdings in Constellation Brands, Inc. (NYSE:STZ)

Fisher Asset Management LLC reduced its stake in Constellation Brands, Inc. (NYSE:STZ) by 24.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,336 shares of the company’s stock after selling 442 shares during the period. Fisher Asset Management LLC’s holdings in Constellation Brands were worth $344,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of STZ. Oakworth Capital Inc. raised its position in Constellation Brands by 4.4% during the 3rd quarter. Oakworth Capital Inc. now owns 989 shares of the company’s stock valued at $255,000 after purchasing an additional 42 shares in the last quarter. PFG Investments LLC increased its stake in shares of Constellation Brands by 3.8% during the third quarter. PFG Investments LLC now owns 1,150 shares of the company’s stock valued at $296,000 after buying an additional 42 shares during the period. Brighton Jones LLC raised its holdings in shares of Constellation Brands by 4.7% in the second quarter. Brighton Jones LLC now owns 950 shares of the company’s stock valued at $244,000 after acquiring an additional 43 shares in the last quarter. Burns Matteson Capital Management LLC lifted its stake in Constellation Brands by 1.5% in the second quarter. Burns Matteson Capital Management LLC now owns 2,910 shares of the company’s stock worth $749,000 after acquiring an additional 44 shares during the period. Finally, Metis Global Partners LLC lifted its stake 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 acquiring an additional 46 shares during the period. 77.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Barclays reduced their price target on shares of Constellation Brands from $309.00 to $300.00 and set an “overweight” rating for the company in a report on Monday, October 7th. Evercore ISI lowered their target price on Constellation Brands from $310.00 to $300.00 and set an “outperform” rating for the company in a report on Friday, October 4th. Wells Fargo & Company dropped their target price on Constellation Brands from $300.00 to $295.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 26th. Bank of America reissued a “neutral” rating and issued a $255.00 price target (down from $300.00) on shares of Constellation Brands in a research report on Monday, October 7th. Finally, Truist Financial dropped their price objective on Constellation Brands from $265.00 to $255.00 and set a “hold” rating on the stock in a research report on Friday, October 4th. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $289.16.

Constellation Brands Trading Up 2.1 %

Shares of NYSE:STZ opened at $240.95 on Friday. The company has a quick ratio of 0.53, a current ratio of 1.25 and a debt-to-equity ratio of 1.31. Constellation Brands, Inc. has a 52-week low of $224.76 and a 52-week high of $274.87. The stock has a market cap of $43.75 billion, a price-to-earnings ratio of 77.98, a PEG ratio of 1.67 and a beta of 1.75. The business has a 50-day moving average price of $241.72 and a 200-day moving average price of $246.75.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings results on Thursday, October 3rd. The company reported $4.32 EPS for the quarter, beating the consensus estimate of $4.08 by $0.24. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. The company had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.95 billion. During the same period in the prior year, the company earned $3.70 earnings per share. The firm’s revenue was up 2.9% on a year-over-year basis. Equities analysts predict that Constellation Brands, Inc. will post 13.57 EPS for the current year.

Constellation Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th were given a $1.01 dividend. The ex-dividend date was Tuesday, November 5th. This represents a $4.04 annualized dividend and a yield of 1.68%. Constellation Brands’s dividend payout ratio is presently 130.74%.

Insider Transactions at Constellation Brands

In related news, major shareholder Wildstar Partners Llc sold 660 shares of the stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $241.00, for a total transaction of $159,060.00. Following the sale, the insider now directly owns 1,736,884 shares of the company’s stock, valued at approximately $418,589,044. This represents a 0.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP James A. Jr. Sabia sold 36,086 shares of Constellation Brands stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $242.99, for a total transaction of $8,768,537.14. Following the completion of the transaction, the executive vice president now directly owns 16,042 shares of the company’s stock, valued at $3,898,045.58. The trade was a 69.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 189,956 shares of company stock valued at $46,058,091 in the last 90 days. 12.19% of the stock is currently 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.