Victory Capital Management Inc. Cuts Position in Constellation Brands, Inc. (NYSE:STZ)

Victory Capital Management Inc. lowered its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 0.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 60,744 shares of the company’s stock after selling 110 shares during the quarter. Victory Capital Management Inc.’s holdings in Constellation Brands were worth $13,424,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Van ECK Associates Corp grew its stake in Constellation Brands by 1,844.7% during the fourth quarter. Van ECK Associates Corp now owns 924,274 shares of the company’s stock worth $204,265,000 after buying an additional 876,745 shares during the period. Copperleaf Capital LLC acquired a new position in shares of Constellation Brands during the 4th quarter valued at $343,000. Grimes & Company Inc. purchased a new stake in Constellation Brands during the 4th quarter worth $6,099,000. Empowered Funds LLC increased its holdings in Constellation Brands by 62.8% in the 4th quarter. Empowered Funds LLC now owns 16,575 shares of the company’s stock valued at $3,663,000 after purchasing an additional 6,391 shares in the last quarter. Finally, Southern Style Financial Inc. purchased a new position in Constellation Brands in the fourth quarter valued at about $3,074,000. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Insiders Place Their Bets

In other news, Director William T. Giles purchased 1,000 shares of the stock in a transaction dated Friday, January 17th. The stock was acquired at an average price of $186.39 per share, for a total transaction of $186,390.00. Following the completion of the transaction, the director now owns 1,463 shares of the company’s stock, valued at approximately $272,688.57. The trade was a 215.98 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 12.19% of the stock is owned by corporate insiders.

Constellation Brands Trading Down 0.7 %

Constellation Brands stock opened at $183.95 on Thursday. Constellation Brands, Inc. has a 1 year low of $160.46 and a 1 year high of $274.87. The firm’s 50-day moving average is $182.22 and its 200-day moving average is $220.07. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.46 and a current ratio of 1.10. The company has a market cap of $33.24 billion, a P/E ratio of 49.45, a PEG ratio of 1.52 and a beta of 1.75.

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

Constellation Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 7th were paid a dividend of $1.01 per share. The ex-dividend date was Friday, February 7th. This represents a $4.04 dividend on an annualized basis and a yield of 2.20%. Constellation Brands’s payout ratio is currently 108.60%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on STZ. Jefferies Financial Group reaffirmed a “hold” rating and issued a $201.00 target price (down previously from $310.00) on shares of Constellation Brands in a research report on Monday, January 13th. Piper Sandler cut Constellation Brands from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $245.00 to $200.00 in a report on Monday, February 3rd. Royal Bank of Canada dropped their price objective on shares of Constellation Brands from $293.00 to $289.00 and set an “outperform” rating on the stock in a research note on Friday, March 7th. Truist Financial decreased their target price on shares of Constellation Brands from $255.00 to $190.00 and set a “hold” rating for the company in a research note on Tuesday, January 14th. Finally, BNP Paribas assumed coverage on shares of Constellation Brands in a research note on Monday, November 25th. They set a “neutral” rating and a $261.00 price target on the stock. Eleven analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.