Boston Family Office LLC Cuts Stake in Constellation Brands, Inc. (NYSE:STZ)

Boston Family Office LLC lessened its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 10.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 923 shares of the company’s stock after selling 112 shares during the period. Boston Family Office LLC’s holdings in Constellation Brands were worth $204,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Norges Bank bought a new stake in shares of Constellation Brands in the 4th quarter worth approximately $445,883,000. Vanguard Group Inc. increased its position in Constellation Brands by 13.3% in the fourth quarter. Vanguard Group Inc. now owns 15,534,787 shares of the company’s stock worth $3,433,188,000 after buying an additional 1,821,969 shares during the last quarter. Van ECK Associates Corp raised its stake in shares of Constellation Brands by 1,844.7% in the fourth quarter. Van ECK Associates Corp now owns 924,274 shares of the company’s stock valued at $204,265,000 after buying an additional 876,745 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Constellation Brands during the 4th quarter valued at $105,766,000. Finally, State Street Corp lifted its holdings in Constellation Brands by 6.0% during the third quarter. State Street Corp now owns 7,144,428 shares of the company’s stock valued at $1,841,048,000 after purchasing an additional 402,211 shares during the last quarter. Institutional investors own 77.34% of the company’s stock.

Constellation Brands Price Performance

Shares of NYSE:STZ opened at $184.98 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 stock has a market cap of $33.43 billion, a PE ratio of 49.73, a PEG ratio of 1.52 and a beta of 1.75. The company’s fifty day moving average is $177.22 and its 200 day moving average is $213.55. Constellation Brands, Inc. has a 52 week low of $160.46 and a 52 week high of $274.87.

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

Constellation Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Shareholders 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 2.18%. The ex-dividend date of this dividend was Friday, February 7th. Constellation Brands’s payout ratio is 108.60%.

Insider Activity

In other Constellation Brands news, Director William T. Giles purchased 1,000 shares of the stock in a transaction on Friday, January 17th. The stock was acquired at an average price of $186.39 per share, with a total value of $186,390.00. Following the transaction, the director now directly owns 1,463 shares of the company’s stock, valued at approximately $272,688.57. This trade represents a 215.98 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 12.19% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on STZ shares. Roth Capital reduced their price objective on shares of Constellation Brands from $298.00 to $284.00 and set a “buy” rating for the company in a research note on Friday, January 17th. TD Cowen reduced their price target on Constellation Brands from $270.00 to $260.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $203.00 price objective (down previously from $262.00) on shares of Constellation Brands in a report on Monday, January 13th. Argus lowered Constellation Brands from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Finally, Truist Financial lowered their price target on shares of Constellation Brands from $255.00 to $190.00 and set a “hold” rating on the stock in a report on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $249.18.

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.