Artemis Investment Management LLP Has $15.17 Million Position in Constellation Brands, Inc. (NYSE:STZ)

Artemis Investment Management LLP decreased its position in Constellation Brands, Inc. (NYSE:STZ) by 53.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 68,618 shares of the company’s stock after selling 78,203 shares during the period. Artemis Investment Management LLP’s holdings in Constellation Brands were worth $15,165,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Smith Salley Wealth Management raised its holdings in Constellation Brands by 1.8% during the 4th quarter. Smith Salley Wealth Management now owns 71,277 shares of the company’s stock worth $15,752,000 after buying an additional 1,270 shares during the period. Ameritas Advisory Services LLC raised its holdings in shares of Constellation Brands by 2.3% during the fourth quarter. Ameritas Advisory Services LLC now owns 5,928 shares of the company’s stock worth $1,310,000 after acquiring an additional 134 shares during the period. HB Wealth Management LLC lifted its position in Constellation Brands by 24.3% in the 4th quarter. HB Wealth Management LLC now owns 5,262 shares of the company’s stock valued at $1,163,000 after acquiring an additional 1,028 shares in the last quarter. Premier Path Wealth Partners LLC boosted its stake in Constellation Brands by 9.4% in the 4th quarter. Premier Path Wealth Partners LLC now owns 5,642 shares of the company’s stock worth $1,247,000 after purchasing an additional 485 shares during the period. Finally, Sanibel Captiva Trust Company Inc. increased its holdings in Constellation Brands by 7.5% during the 4th quarter. Sanibel Captiva Trust Company Inc. now owns 16,356 shares of the company’s stock worth $3,615,000 after purchasing an additional 1,147 shares in the last quarter. Institutional investors own 77.34% of the company’s stock.

Analyst Upgrades and Downgrades

STZ has been the subject of several recent research reports. Bank of America reaffirmed a “neutral” rating and set a $255.00 price objective (down from $300.00) on shares of Constellation Brands in a research report on Monday, October 7th. StockNews.com cut shares of Constellation Brands from a “hold” rating to a “sell” rating in a research note on Friday. BMO Capital Markets lowered their price objective on shares of Constellation Brands from $315.00 to $305.00 and set an “outperform” rating on the stock in a report on Tuesday, October 15th. Royal Bank of Canada restated an “outperform” rating and set a $308.00 target price on shares of Constellation Brands in a report on Tuesday, January 7th. Finally, Piper Sandler lowered their price target on shares of Constellation Brands from $300.00 to $245.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $259.05.

Constellation Brands Stock Performance

NYSE:STZ opened at $184.05 on Monday. The company has a current ratio of 1.25, a quick ratio of 0.53 and a debt-to-equity ratio of 1.31. The stock has a 50 day simple moving average of $226.75 and a 200 day simple moving average of $238.82. Constellation Brands, Inc. has a 1-year low of $176.51 and a 1-year high of $274.87. The stock has a market cap of $33.26 billion, a P/E ratio of 49.48, a PEG ratio of 1.28 and a beta of 1.75.

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 net margin of 5.29% and a return on equity of 25.34%. The business had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.53 billion. During the same period in the previous year, the firm posted $3.19 EPS. The company’s revenue was down .3% compared to the same quarter last year. Research analysts anticipate that Constellation Brands, Inc. will post 13.72 earnings per share for the current year.

Constellation Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Friday, February 7th will be given a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date of this dividend is Friday, February 7th. Constellation Brands’s payout ratio is currently 108.60%.

Insider Buying and Selling at Constellation Brands

In other news, CEO William A. Newlands sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $243.58, for a total value of $6,089,500.00. Following the completion of the transaction, the chief executive officer now owns 7,274 shares of the company’s stock, valued at $1,771,800.92. This represents a 77.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Wildstar Partners Llc sold 660 shares of Constellation Brands stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $241.00, for a total value of $159,060.00. Following the transaction, the insider now directly owns 1,736,884 shares in the company, valued at $418,589,044. The trade was a 0.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 69,172 shares of company stock valued at $16,778,841 in the last ninety days. 12.19% of the stock is currently owned by company 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.