International Assets Investment Management LLC Sells 498,349 Shares of Constellation Brands, Inc. (NYSE:STZ)

International Assets Investment Management LLC trimmed its holdings in Constellation Brands, Inc. (NYSE:STZ) by 99.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,340 shares of the company’s stock after selling 498,349 shares during the quarter. International Assets Investment Management LLC’s holdings in Constellation Brands were worth $298,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Versant Capital Management Inc lifted its position in Constellation Brands by 887.5% in the fourth quarter. Versant Capital Management Inc now owns 158 shares of the company’s stock worth $35,000 after purchasing an additional 142 shares during the period. Ashton Thomas Private Wealth LLC bought a new position in Constellation Brands in the second quarter worth $36,000. Eastern Bank bought a new position in Constellation Brands in the third quarter worth $39,000. FSA Wealth Management LLC bought a new position in Constellation Brands in the third quarter worth $42,000. Finally, Fairfield Financial Advisors LTD bought a new position in Constellation Brands in the second quarter worth $57,000. 77.34% of the stock is owned by institutional investors.

Constellation Brands Price Performance

Shares of STZ stock opened at $181.57 on Monday. The stock has a 50-day moving average price of $231.88 and a 200 day moving average price of $241.28. The company has a quick ratio of 0.53, a current ratio of 1.25 and a debt-to-equity ratio of 1.31. The firm has a market cap of $32.97 billion, a price-to-earnings ratio of 58.76, a PEG ratio of 1.69 and a beta of 1.75. Constellation Brands, Inc. has a 12 month low of $179.55 and a 12 month high of $274.87.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings data on Friday, January 10th. The company reported $3.25 EPS for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.08). The firm had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.53 billion. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. Constellation Brands’s revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.19 earnings per share. Research analysts expect that Constellation Brands, Inc. will post 13.57 EPS for the current year.

Constellation Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Friday, February 7th will be issued a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date is Friday, February 7th. Constellation Brands’s dividend payout ratio (DPR) is currently 130.74%.

Insiders Place Their Bets

In other Constellation Brands news, major shareholder Wildstar Partners Llc sold 660 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $241.00, for a total transaction of $159,060.00. Following the transaction, the insider now owns 1,736,884 shares of the company’s stock, valued at $418,589,044. The trade was a 0.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO William A. Newlands sold 7,426 shares of the company’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $237.24, for a total value of $1,761,744.24. Following the completion of the transaction, the chief executive officer now directly owns 7,274 shares in the company, valued at approximately $1,725,683.76. This represents a 50.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 188,446 shares of company stock worth $45,687,281. Insiders own 12.19% of the company’s stock.

Analysts Set New Price Targets

STZ has been the subject of a number of analyst reports. Truist Financial cut their price objective on Constellation Brands from $265.00 to $255.00 and set a “hold” rating for the company in a report on Friday, October 4th. Needham & Company LLC reissued a “buy” rating and set a $280.00 price objective on shares of Constellation Brands in a report on Friday. BNP Paribas initiated coverage on Constellation Brands in a report on Monday, November 25th. They set a “neutral” rating and a $261.00 price objective for the company. Bank of America reissued a “neutral” rating and set a $255.00 price objective (down from $300.00) on shares of Constellation Brands in a report on Monday, October 7th. Finally, Roth Mkm reissued a “buy” rating and set a $298.00 price objective on shares of Constellation Brands in a report on Friday, October 4th. Five investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $284.75.

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.