Cypress Capital Group Has $272,000 Stake in Constellation Brands, Inc. (NYSE:STZ)

Cypress Capital Group lessened its stake in Constellation Brands, Inc. (NYSE:STZ) by 4.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,056 shares of the company’s stock after selling 49 shares during the quarter. Cypress Capital Group’s holdings in Constellation Brands were worth $272,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. International Assets Investment Management LLC boosted its position in Constellation Brands by 23,184.7% during the third quarter. International Assets Investment Management LLC now owns 499,689 shares of the company’s stock valued at $128,765,000 after purchasing an additional 497,543 shares during the last quarter. Manning & Napier Advisors LLC acquired a new stake in shares of Constellation Brands during the 2nd quarter valued at about $119,394,000. Boston Partners grew its stake in shares of Constellation Brands by 50.9% in the 1st quarter. Boston Partners now owns 975,589 shares of the company’s stock valued at $265,099,000 after buying an additional 328,881 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Constellation Brands by 31.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,002,332 shares of the company’s stock worth $257,865,000 after buying an additional 241,982 shares during the last quarter. Finally, Coho Partners Ltd. raised its position in Constellation Brands by 40.1% during the third quarter. Coho Partners Ltd. now owns 283,079 shares of the company’s stock valued at $72,947,000 after acquiring an additional 80,970 shares in the last quarter. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Insider Activity at Constellation Brands

In other news, EVP James A. Jr. Sabia sold 36,086 shares of the business’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $242.99, for a total value of $8,768,537.14. Following the sale, the executive vice president now owns 16,042 shares in the company, valued at approximately $3,898,045.58. The trade was a 69.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William A. Newlands sold 7,426 shares of the company’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $237.24, for a total transaction of $1,761,744.24. Following the completion of the sale, the chief executive officer now directly owns 7,274 shares in the company, valued at approximately $1,725,683.76. The trade was a 50.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 189,296 shares of company stock valued at $45,899,031 in the last 90 days. 12.19% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on STZ. Roth Mkm reissued a “buy” rating and issued a $298.00 target price on shares of Constellation Brands in a research report on Friday, October 4th. Truist Financial lowered their target price on shares of Constellation Brands from $265.00 to $255.00 and set a “hold” rating on the stock in a research report on Friday, October 4th. TD Cowen cut Constellation Brands from a “buy” rating to a “hold” rating and reduced their price target for the stock from $300.00 to $270.00 in a research report on Tuesday, October 8th. Evercore ISI lowered their price objective on Constellation Brands from $310.00 to $300.00 and set an “outperform” rating on the stock in a report on Friday, October 4th. Finally, Morgan Stanley reduced their target price on Constellation Brands from $305.00 to $280.00 and set an “overweight” rating for the company in a report on Monday, August 26th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Constellation Brands has a consensus rating of “Moderate Buy” and an average target price of $290.47.

Constellation Brands Price Performance

Shares of STZ stock opened at $240.84 on Friday. Constellation Brands, Inc. has a 12 month low of $224.76 and a 12 month high of $274.87. The company has a market capitalization of $43.73 billion, a P/E ratio of 77.94, a P/E/G ratio of 1.70 and a beta of 0.90. The stock has a 50 day moving average of $243.30 and a two-hundred day moving average of $247.68. The company has a current ratio of 1.25, a quick ratio of 0.53 and a debt-to-equity ratio of 1.31.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share for the quarter, topping analysts’ consensus estimates of $4.08 by $0.24. The firm had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.95 billion. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. The business’s revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.70 earnings per share. As a group, equities analysts expect that Constellation Brands, Inc. will post 13.57 EPS for the current year.

Constellation Brands Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Tuesday, November 5th were given a dividend of $1.01 per share. The ex-dividend date was Tuesday, November 5th. This represents a $4.04 annualized dividend and a dividend yield of 1.68%. Constellation Brands’s dividend payout ratio (DPR) is presently 130.74%.

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.