Constellation Brands, Inc. (NYSE:STZ) Position Trimmed by SWS Partners

SWS Partners lowered its stake in Constellation Brands, Inc. (NYSE:STZ) by 7.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,374 shares of the company’s stock after selling 1,223 shares during the period. Constellation Brands makes up about 1.2% of SWS Partners’ investment portfolio, making the stock its 21st largest holding. SWS Partners’ holdings in Constellation Brands were worth $3,955,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Stifel Financial Corp increased its position in shares of Constellation Brands by 3.2% in the fourth quarter. Stifel Financial Corp now owns 192,585 shares of the company’s stock worth $46,570,000 after acquiring an additional 5,951 shares in the last quarter. KBC Group NV grew its position in Constellation Brands by 100.4% during the 4th quarter. KBC Group NV now owns 250,945 shares of the company’s stock worth $60,666,000 after purchasing an additional 125,730 shares in the last quarter. Manning & Napier Advisors LLC purchased a new position in Constellation Brands during the 2nd quarter worth approximately $119,394,000. Vanguard Group Inc. raised its stake in Constellation Brands by 3.5% during the 1st quarter. Vanguard Group Inc. now owns 13,705,793 shares of the company’s stock valued at $3,724,686,000 after purchasing an additional 462,891 shares during the period. Finally, Howland Capital Management LLC lifted its holdings in shares of Constellation Brands by 3.0% in the first quarter. Howland Capital Management LLC now owns 141,314 shares of the company’s stock valued at $38,403,000 after purchasing an additional 4,051 shares in the last quarter. Institutional investors and hedge funds own 77.34% of the company’s stock.

Constellation Brands Stock Performance

STZ stock traded up $4.16 during midday trading on Thursday, hitting $245.24. 718,182 shares of the company traded hands, compared to its average volume of 1,190,807. Constellation Brands, Inc. has a twelve month low of $227.50 and a twelve month high of $274.87. The stock has a market capitalization of $44.87 billion, a price-to-earnings ratio of 18.27, a price-to-earnings-growth ratio of 1.62 and a beta of 1.75. The company has a quick ratio of 0.53, a current ratio of 1.19 and a debt-to-equity ratio of 1.06. The business has a 50 day simple moving average of $250.99 and a 200-day simple moving average of $253.94.

Constellation Brands (NYSE:STZ) last posted its earnings results on Wednesday, July 3rd. The company reported $3.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.46 by $0.11. The business had revenue of $2.66 billion for the quarter, compared to analyst estimates of $2.67 billion. Constellation Brands had a net margin of 22.70% and a return on equity of 23.72%. Constellation Brands’s revenue was up 5.8% compared to the same quarter last year. During the same period last year, the business posted $2.91 EPS. As a group, equities research analysts predict that Constellation Brands, Inc. will post 13.57 earnings per share for the current year.

Constellation Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Wednesday, August 14th will be paid a dividend of $1.01 per share. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $4.04 annualized dividend and a yield of 1.65%. Constellation Brands’s payout ratio is 30.10%.

Insider Buying and Selling at Constellation Brands

In other news, CFO Garth Hankinson sold 13,583 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $240.00, for a total transaction of $3,259,920.00. Following the completion of the transaction, the chief financial officer now directly owns 11,702 shares in the company, valued at $2,808,480. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CFO Garth Hankinson sold 13,583 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $240.00, for a total value of $3,259,920.00. Following the completion of the sale, the chief financial officer now owns 11,702 shares in the company, valued at $2,808,480. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Daniel J. Mccarthy sold 1,854 shares of Constellation Brands stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $252.43, for a total value of $468,005.22. Following the sale, the director now directly owns 3,232 shares in the company, valued at $815,853.76. The disclosure for this sale can be found here. Insiders have sold 16,414 shares of company stock valued at $3,982,922 in the last 90 days. 12.19% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

STZ has been the topic of a number of research analyst reports. Roth Mkm lowered their price target on Constellation Brands from $305.00 to $303.00 and set a “buy” rating on the stock in a report on Friday, July 5th. UBS Group upped their target price on Constellation Brands from $315.00 to $320.00 and gave the company a “buy” rating in a report on Friday, July 5th. Barclays raised their price target on shares of Constellation Brands from $287.00 to $295.00 and gave the stock an “overweight” rating in a report on Friday, July 19th. Truist Financial reiterated a “hold” rating and issued a $265.00 price objective on shares of Constellation Brands in a research note on Wednesday, July 3rd. Finally, JPMorgan Chase & Co. increased their target price on shares of Constellation Brands from $291.00 to $320.00 and gave the stock an “overweight” rating in a research report on Friday, July 5th. Three analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $300.28.

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.