Tower Bridge Advisors Sells 284 Shares of Constellation Brands, Inc. (NYSE:STZ)

Tower Bridge Advisors lowered its position in Constellation Brands, Inc. (NYSE:STZ) by 2.8% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 9,758 shares of the company’s stock after selling 284 shares during the period. Tower Bridge Advisors’ holdings in Constellation Brands were worth $2,157,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of STZ. Van ECK Associates Corp increased its holdings in Constellation Brands by 1,844.7% in the fourth quarter. Van ECK Associates Corp now owns 924,274 shares of the company’s stock worth $204,265,000 after purchasing an additional 876,745 shares in the last quarter. State Street Corp grew its position in shares of Constellation Brands by 6.0% during the 3rd quarter. State Street Corp now owns 7,144,428 shares of the company’s stock worth $1,841,048,000 after buying an additional 402,211 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in shares of Constellation Brands by 66.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 369,966 shares of the company’s stock valued at $81,762,000 after acquiring an additional 147,457 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in shares of Constellation Brands during the 4th quarter valued at $25,119,000. Finally, NFJ Investment Group LLC lifted its position in shares of Constellation Brands by 617.3% during the 3rd quarter. NFJ Investment Group LLC now owns 108,382 shares of the company’s stock valued at $27,929,000 after acquiring an additional 93,273 shares during the period. 77.34% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director William T. Giles purchased 1,000 shares of the firm’s stock in a transaction dated Friday, January 17th. The stock was bought at an average price of $186.39 per share, for a total transaction of $186,390.00. Following the purchase, the director now directly 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 12.19% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $293.00 price target on shares of Constellation Brands in a research note on Monday, February 3rd. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $203.00 price target (down from $262.00) on shares of Constellation Brands in a research note on Monday, January 13th. Piper Sandler lowered Constellation Brands from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $245.00 to $200.00 in a report on Monday, February 3rd. BNP Paribas started 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. Finally, Evercore ISI cut their target price on Constellation Brands from $300.00 to $250.00 and set an “outperform” rating on the stock in a report on Monday, January 13th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $253.43.

Constellation Brands Price Performance

Constellation Brands stock opened at $175.74 on Friday. Constellation Brands, Inc. has a 52 week low of $160.46 and a 52 week high of $274.87. The company’s 50 day moving average price is $189.00 and its two-hundred day moving average price is $223.72. The stock has a market cap of $31.76 billion, a P/E ratio of 47.24, a P/E/G ratio of 1.52 and a beta of 1.75. The company has a quick ratio of 0.46, a current ratio of 1.10 and a debt-to-equity ratio of 1.26.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings data on Friday, January 10th. The company reported $3.25 earnings per share 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 business 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 firm posted $3.19 EPS. The firm’s revenue for the quarter was down .3% on a year-over-year basis. On average, equities analysts predict that Constellation Brands, Inc. will post 13.5 earnings per share for the current year.

Constellation Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 7th were issued 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 2.30%. 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.