Charter Research & Investment Group Inc. Reduces Stake in Constellation Brands, Inc. (NYSE:STZ)

Charter Research & Investment Group Inc. trimmed its holdings in Constellation Brands, Inc. (NYSE:STZ) by 17.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,036 shares of the company’s stock after selling 430 shares during the quarter. Charter Research & Investment Group Inc.’s holdings in Constellation Brands were worth $450,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Norges Bank acquired a new stake in Constellation Brands during the 4th quarter worth approximately $445,883,000. Vanguard Group Inc. lifted its holdings in shares of Constellation Brands by 13.3% during the fourth quarter. Vanguard Group Inc. now owns 15,534,787 shares of the company’s stock worth $3,433,188,000 after purchasing an additional 1,821,969 shares during the period. Van ECK Associates Corp grew its position in Constellation Brands by 1,844.7% in the 4th quarter. Van ECK Associates Corp now owns 924,274 shares of the company’s stock valued at $204,265,000 after buying an additional 876,745 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Constellation Brands during the 4th quarter worth $105,766,000. Finally, 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 worth $1,841,048,000 after acquiring an additional 402,211 shares during the period. 77.34% of the stock is owned by hedge funds and other institutional investors.

Constellation Brands Price Performance

Constellation Brands stock opened at $183.69 on Friday. The stock has a market capitalization of $33.20 billion, a P/E ratio of 49.38, a P/E/G ratio of 1.52 and a beta of 1.75. Constellation Brands, Inc. has a 12-month low of $160.46 and a 12-month high of $274.87. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.10 and a quick ratio of 0.46. The firm’s 50-day moving average is $177.19 and its two-hundred day moving average is $214.74.

Constellation Brands (NYSE:STZ) last announced 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 firm had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.53 billion. During the same quarter last year, the business posted $3.19 EPS. The firm’s revenue was down .3% compared to the same quarter last year. Equities analysts predict that Constellation Brands, Inc. will post 13.5 earnings per share for the current year.

Constellation Brands Announces Dividend

The firm also recently announced 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 annualized dividend and a yield of 2.20%. Constellation Brands’s dividend payout ratio (DPR) is presently 108.60%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on STZ. Morgan Stanley cut shares of Constellation Brands from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $220.00 to $202.00 in a report on Thursday, February 27th. Royal Bank of Canada cut their target price on Constellation Brands from $293.00 to $289.00 and set an “outperform” rating for the company in a research note on Friday, March 7th. Truist Financial decreased their price target on Constellation Brands from $255.00 to $190.00 and set a “hold” rating on the stock in a research note on Tuesday, January 14th. Jefferies Financial Group reiterated a “hold” rating and issued a $201.00 price objective (down previously from $310.00) on shares of Constellation Brands in a research report on Monday, January 13th. Finally, StockNews.com lowered shares of Constellation Brands from a “hold” rating to a “sell” rating in a research report on Friday, March 14th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $249.18.

Insiders Place Their Bets

In related news, Director William T. Giles acquired 1,000 shares of the business’s stock in a transaction dated Friday, January 17th. The shares were acquired at an average cost of $186.39 per share, for a total transaction of $186,390.00. Following the acquisition, the director now directly owns 1,463 shares in the company, valued at approximately $272,688.57. The trade was a 215.98 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 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.