Patten Group Inc. Has $504,000 Stock Position in Constellation Brands, Inc. (NYSE:STZ)

Patten Group Inc. decreased its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 22.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,282 shares of the company’s stock after selling 654 shares during the period. Patten Group Inc.’s holdings in Constellation Brands were worth $504,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Van ECK Associates Corp boosted its stake in shares of Constellation Brands by 1,844.7% during the 4th quarter. Van ECK Associates Corp now owns 924,274 shares of the company’s stock worth $204,265,000 after acquiring an additional 876,745 shares in the last quarter. Copperleaf Capital LLC bought a new stake in shares of Constellation Brands during the 4th quarter worth about $343,000. Grimes & Company Inc. bought a new stake in shares of Constellation Brands during the 4th quarter worth about $6,099,000. Empowered Funds LLC boosted its stake in shares of Constellation Brands by 62.8% during the 4th quarter. Empowered Funds LLC now owns 16,575 shares of the company’s stock worth $3,663,000 after acquiring an additional 6,391 shares in the last quarter. Finally, Southern Style Financial Inc. bought a new stake in shares of Constellation Brands during the 4th quarter worth about $3,074,000. Institutional investors and hedge funds own 77.34% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on STZ. StockNews.com downgraded Constellation Brands from a “hold” rating to a “sell” rating in a research note on Wednesday, February 26th. Barclays decreased their price target on Constellation Brands from $282.00 to $214.00 and set an “overweight” rating for the company in a research note on Tuesday, January 14th. Royal Bank of Canada reissued an “outperform” rating and set a $293.00 price objective on shares of Constellation Brands in a research report on Monday, February 3rd. Morgan Stanley cut Constellation Brands from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $220.00 to $202.00 in a research report on Thursday, February 27th. Finally, Truist Financial cut their price objective on Constellation Brands from $255.00 to $190.00 and set a “hold” rating for the company in a research report on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $253.43.

Constellation Brands Trading Down 1.5 %

Shares of STZ opened at $172.58 on Wednesday. Constellation Brands, Inc. has a 1 year low of $160.46 and a 1 year high of $274.87. The company has a current ratio of 1.10, a quick ratio of 0.46 and a debt-to-equity ratio of 1.26. The stock has a 50 day simple moving average of $186.93 and a 200-day simple moving average of $222.47. The stock has a market cap of $31.19 billion, a PE ratio of 46.39, a PEG ratio of 1.52 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last issued its earnings results on Friday, January 10th. The company reported $3.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.08). Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The company had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.53 billion. During the same period in the previous year, the company posted $3.19 earnings per share. The company’s quarterly revenue was down .3% on a year-over-year basis. On average, sell-side analysts predict that Constellation Brands, Inc. will post 13.5 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 7th were given 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 2.34%. Constellation Brands’s dividend payout ratio (DPR) is presently 108.60%.

Insider Buying and Selling

In other news, Director William T. Giles acquired 1,000 shares of the firm’s stock in a transaction on Friday, January 17th. The shares were purchased at an average cost of $186.39 per share, for a total transaction of $186,390.00. Following the transaction, the director now owns 1,463 shares of the company’s stock, valued at approximately $272,688.57. This represents a 215.98 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 12.19% of the stock is owned by corporate insiders.

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.