Envestnet Portfolio Solutions Inc. Has $4.26 Million Stake in Constellation Brands, Inc. (NYSE:STZ)

Envestnet Portfolio Solutions Inc. lessened its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 15.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 19,278 shares of the company’s stock after selling 3,526 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Constellation Brands were worth $4,261,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of STZ. one8zero8 LLC acquired a new stake in shares of Constellation Brands in the 4th quarter valued at about $1,076,000. Frank Rimerman Advisors LLC raised its holdings in Constellation Brands by 20.3% during the fourth quarter. Frank Rimerman Advisors LLC now owns 1,722 shares of the company’s stock worth $381,000 after buying an additional 291 shares during the last quarter. Clearstead Trust LLC lifted its stake in shares of Constellation Brands by 528.9% in the fourth quarter. Clearstead Trust LLC now owns 1,044 shares of the company’s stock valued at $231,000 after buying an additional 878 shares in the last quarter. HMV Wealth Advisors LLC acquired a new position in shares of Constellation Brands during the fourth quarter valued at about $490,000. Finally, Intact Investment Management Inc. increased its position in shares of Constellation Brands by 3.2% during the fourth quarter. Intact Investment Management Inc. now owns 19,000 shares of the company’s stock worth $4,199,000 after acquiring an additional 590 shares in the last quarter. 77.34% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on STZ shares. Wells Fargo & Company dropped their price target on shares of Constellation Brands from $295.00 to $275.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Jefferies Financial Group restated a “hold” rating and issued a $201.00 target price (down previously from $310.00) on shares of Constellation Brands in a report on Monday, January 13th. Piper Sandler downgraded 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. Needham & Company LLC restated a “buy” rating and set a $240.00 price objective on shares of Constellation Brands in a research note on Monday, January 27th. Finally, BNP Paribas started coverage on shares of Constellation Brands in a report on Monday, November 25th. They set a “neutral” rating and a $261.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $252.81.

Insiders Place Their Bets

In other Constellation Brands news, Director William T. Giles acquired 1,000 shares of the business’s stock in a transaction that occurred on Friday, January 17th. The stock was bought at an average cost of $186.39 per share, with a total value of $186,390.00. Following the acquisition, the director now owns 1,463 shares in the company, valued at approximately $272,688.57. This represents 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 the SEC website. Company insiders own 12.19% of the company’s stock.

Constellation Brands Trading Down 2.4 %

Shares of STZ stock opened at $179.23 on Wednesday. The company has a quick ratio of 0.46, a current ratio of 1.10 and a debt-to-equity ratio of 1.26. The firm has a market cap of $32.39 billion, a P/E ratio of 48.18, a PEG ratio of 1.52 and a beta of 1.75. The company has a 50 day moving average of $179.01 and a 200-day moving average of $218.27. Constellation Brands, Inc. has a 12-month low of $160.46 and a 12-month high of $274.87.

Constellation Brands (NYSE:STZ) last released 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). Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The firm had revenue of $2.46 billion during the quarter, compared to analysts’ expectations of $2.53 billion. During the same period in the prior year, the business earned $3.19 earnings per share. The business’s quarterly revenue was down .3% compared to the same quarter last year. Sell-side analysts anticipate that Constellation Brands, Inc. will post 13.5 earnings per share for the current year.

Constellation Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 7th were issued a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend was Friday, February 7th. Constellation Brands’s dividend payout ratio (DPR) is presently 108.60%.

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.