Bedell Frazier Investment Counselling LLC Sells 3,313 Shares of Constellation Brands, Inc. (NYSE:STZ)

Bedell Frazier Investment Counselling LLC trimmed its holdings in Constellation Brands, Inc. (NYSE:STZ) by 13.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,560 shares of the company’s stock after selling 3,313 shares during the quarter. Constellation Brands makes up approximately 1.1% of Bedell Frazier Investment Counselling LLC’s holdings, making the stock its 29th biggest position. Bedell Frazier Investment Counselling LLC’s holdings in Constellation Brands were worth $4,544,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Mainstream Capital Management LLC purchased a new position in Constellation Brands during the fourth quarter valued at $25,000. SBI Securities Co. Ltd. bought a new position in shares of Constellation Brands during the 4th quarter valued at about $26,000. Compagnie Lombard Odier SCmA purchased a new position in shares of Constellation Brands during the fourth quarter valued at about $27,000. Union Bancaire Privee UBP SA bought a new stake in shares of Constellation Brands in the fourth quarter worth about $28,000. Finally, Versant Capital Management Inc lifted its position in shares of 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 buying an additional 142 shares in the last quarter. 77.34% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Constellation Brands

In other Constellation Brands news, Director William T. Giles purchased 1,000 shares of Constellation Brands stock in a transaction dated Friday, January 17th. The shares were acquired at an average cost of $186.39 per share, with a total value of $186,390.00. Following the completion of the transaction, the director now owns 1,463 shares in the company, valued at approximately $272,688.57. This trade represents a 215.98 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 12.19% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on STZ. Argus downgraded Constellation Brands from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Truist Financial reduced their price target on shares of Constellation Brands from $255.00 to $190.00 and set a “hold” rating on the stock in a research report on Tuesday, January 14th. Morgan Stanley lowered shares of Constellation Brands from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $220.00 to $202.00 in a research report on Thursday, February 27th. Roth Capital reduced their target price on shares of Constellation Brands from $298.00 to $284.00 and set a “buy” rating on the stock in a report on Friday, January 17th. Finally, UBS Group lowered their price target on shares of Constellation Brands from $265.00 to $223.00 and set a “buy” rating for the company in a report on Friday, January 17th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $249.18.

Constellation Brands Stock Performance

Shares of STZ stock opened at $183.69 on Monday. The firm has a market cap of $33.20 billion, a price-to-earnings ratio of 49.38, a PEG ratio of 1.52 and a beta of 1.75. Constellation Brands, Inc. has a 52-week low of $160.46 and a 52-week high of $274.87. 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 company’s 50 day moving average is $177.19 and its 200 day moving average is $214.50.

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

Constellation Brands Announces Dividend

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

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.