Eagle Bay Advisors LLC Reduces Holdings in Constellation Brands, Inc. (NYSE:STZ)

Eagle Bay Advisors LLC decreased its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 51.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 197 shares of the company’s stock after selling 211 shares during the period. Eagle Bay Advisors LLC’s holdings in Constellation Brands were worth $44,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. International Assets Investment Management LLC boosted its position in Constellation Brands by 23,184.7% during the 3rd quarter. International Assets Investment Management LLC now owns 499,689 shares of the company’s stock valued at $128,765,000 after acquiring an additional 497,543 shares in the last quarter. State Street Corp lifted its stake in shares of Constellation Brands by 6.0% in the 3rd 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 period. Dimensional Fund Advisors LP lifted its stake in shares of Constellation Brands by 31.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,002,332 shares of the company’s stock valued at $257,865,000 after purchasing an additional 241,982 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in shares of Constellation Brands by 66.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 369,966 shares of the company’s stock valued at $81,762,000 after purchasing an additional 147,457 shares in the last quarter. Finally, NFJ Investment Group LLC grew its stake in Constellation Brands by 617.3% in the third quarter. NFJ Investment Group LLC now owns 108,382 shares of the company’s stock worth $27,929,000 after purchasing an additional 93,273 shares during the period. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Constellation Brands Stock Performance

Shares of STZ stock opened at $185.84 on Tuesday. The company has a quick ratio of 0.53, a current ratio of 1.25 and a debt-to-equity ratio of 1.31. The company has a 50 day moving average price of $230.80 and a 200-day moving average price of $240.79. Constellation Brands, Inc. has a 52 week low of $176.51 and a 52 week high of $274.87. The firm has a market capitalization of $33.74 billion, a PE ratio of 60.14, a P/E/G ratio of 1.69 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last posted its earnings results on Friday, January 10th. The company reported $3.25 EPS for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.08). The company had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.53 billion. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The company’s revenue for the quarter was down .3% on a year-over-year basis. During the same period last year, the firm posted $3.19 EPS. As a group, equities research analysts expect that Constellation Brands, Inc. will post 13.57 earnings per share for the current year.

Constellation Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Friday, February 7th will be issued a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date is Friday, February 7th. Constellation Brands’s dividend payout ratio is 130.74%.

Insider Buying and Selling

In other news, major shareholder Wildstar Partners Llc sold 660 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $241.00, for a total transaction of $159,060.00. Following the completion of the transaction, the insider now directly owns 1,736,884 shares in the company, valued at approximately $418,589,044. This represents a 0.04 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William A. Newlands sold 7,426 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $237.24, for a total value of $1,761,744.24. Following the sale, the chief executive officer now directly owns 7,274 shares in the company, valued at $1,725,683.76. The trade was a 50.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 188,446 shares of company stock valued at $45,687,281. 12.19% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Truist Financial dropped their target price on shares of Constellation Brands from $265.00 to $255.00 and set a “hold” rating on the stock in a report on Friday, October 4th. Roth Mkm reissued a “buy” rating and set a $298.00 price objective on shares of Constellation Brands in a research note on Friday, October 4th. Wells Fargo & Company decreased their target price on shares of Constellation Brands from $295.00 to $275.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. BMO Capital Markets dropped their price target on Constellation Brands from $315.00 to $305.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 15th. Finally, Evercore ISI reduced their price objective on Constellation Brands from $300.00 to $250.00 and set an “outperform” rating for the company in a research report on Monday. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $268.05.

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.