Constellation Brands Inc $STZ Shares Sold by SouthState Bank Corp

SouthState Bank Corp lowered its stake in shares of Constellation Brands Inc (NYSE:STZ) by 25.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,568 shares of the company’s stock after selling 4,712 shares during the quarter. SouthState Bank Corp’s holdings in Constellation Brands were worth $1,872,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of STZ. Capital International Investors increased its holdings in shares of Constellation Brands by 48.5% during the fourth quarter. Capital International Investors now owns 6,442,600 shares of the company’s stock valued at $888,930,000 after acquiring an additional 2,105,546 shares in the last quarter. Norges Bank acquired a new position in shares of Constellation Brands during the fourth quarter valued at about $267,798,000. Ameriprise Financial Inc. increased its holdings in shares of Constellation Brands by 650.6% during the second quarter. Ameriprise Financial Inc. now owns 1,769,741 shares of the company’s stock valued at $287,889,000 after acquiring an additional 1,533,961 shares in the last quarter. Pzena Investment Management LLC acquired a new position in shares of Constellation Brands during the fourth quarter valued at about $81,381,000. Finally, Vanguard Group Inc. increased its holdings in shares of Constellation Brands by 3.3% during the third quarter. Vanguard Group Inc. now owns 18,202,611 shares of the company’s stock valued at $2,451,346,000 after acquiring an additional 573,766 shares in the last quarter. Institutional investors and hedge funds own 77.34% of the company’s stock.

Constellation Brands Stock Up 0.1%

Constellation Brands stock opened at $141.11 on Monday. The business’s 50-day moving average price is $150.69 and its 200 day moving average price is $149.53. The company has a quick ratio of 0.55, a current ratio of 1.08 and a debt-to-equity ratio of 1.16. The firm has a market cap of $24.30 billion, a price-to-earnings ratio of 14.71, a price-to-earnings-growth ratio of 3.26 and a beta of 0.39. Constellation Brands Inc has a 52 week low of $126.45 and a 52 week high of $178.13.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Wednesday, April 8th. The company reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.71 by $0.19. Constellation Brands had a return on equity of 26.18% and a net margin of 17.29%.The company had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.84 billion. During the same period last year, the business earned $2.63 earnings per share. Constellation Brands’s quarterly revenue was down 11.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Constellation Brands Inc will post 11.87 earnings per share for the current year.

Constellation Brands Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Wednesday, April 29th were given a $1.03 dividend. The ex-dividend date was Wednesday, April 29th. This represents a $4.12 annualized dividend and a yield of 2.9%. This is a boost from Constellation Brands’s previous quarterly dividend of $1.02. Constellation Brands’s payout ratio is currently 42.96%.

Insider Buying and Selling

In other Constellation Brands news, EVP James O. Bourdeau sold 4,407 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $143.24, for a total value of $631,258.68. Following the sale, the executive vice president owned 9,109 shares in the company, valued at approximately $1,304,773.16. This represents a 32.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 12.45% of the company’s stock.

Wall Street Analysts Forecast Growth

STZ has been the topic of several recent analyst reports. Roth Mkm restated a “buy” rating on shares of Constellation Brands in a report on Thursday, April 9th. UBS Group upped their target price on Constellation Brands from $176.00 to $186.00 and gave the company a “buy” rating in a research report on Friday, April 10th. Citigroup reiterated a “buy” rating on shares of Constellation Brands in a research report on Monday, May 18th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Constellation Brands in a research report on Monday, May 4th. Finally, Piper Sandler upped their target price on Constellation Brands from $146.00 to $160.00 and gave the company a “neutral” rating in a research report on Friday, April 10th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $175.26.

Constellation Brands Company Profile

Constellation Brands, Inc is a leading producer and marketer of beer, wine and spirits, with operations spanning production, importation, marketing and distribution. The company’s beverage portfolio includes a range of premium and mainstream wines and spirits alongside major imported beer brands; in the U.S. market Constellation is widely known for its role in bringing Mexican imports such as Corona and Modelo to American consumers. Constellation supplies retail, on‑premise and foodservice channels and supports its brands with national sales and marketing platforms and supply‑chain capabilities.

The company traces its roots to the Canandaigua Wine Company, founded by Marvin Sands in 1945, and evolved through organic growth and acquisition into a diversified beverage company.