Constellation Brands, Inc. (NYSE:STZ) Shares Sold by M&T Bank Corp

M&T Bank Corp lowered its position in Constellation Brands, Inc. (NYSE:STZ) by 19.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 60,245 shares of the company’s stock after selling 14,862 shares during the period. M&T Bank Corp’s holdings in Constellation Brands were worth $13,314,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Van ECK Associates Corp raised its position in shares of Constellation Brands by 1,844.7% in the fourth 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 during the period. Copperleaf Capital LLC acquired a new position in shares of Constellation Brands in the fourth quarter worth about $343,000. Grimes & Company Inc. acquired a new position in shares of Constellation Brands during the 4th quarter worth about $6,099,000. Empowered Funds LLC raised its position 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 purchasing an additional 6,391 shares during the last quarter. Finally, Southern Style Financial Inc. purchased a new position in Constellation Brands in the 4th quarter valued at about $3,074,000. Institutional investors and hedge funds own 77.34% of the company’s stock.

Insider Activity

In other Constellation Brands news, Director William T. Giles purchased 1,000 shares of the firm’s stock in a transaction dated Friday, January 17th. The shares were acquired at an average price of $186.39 per share, with a total value of $186,390.00. Following the purchase, the director now directly owns 1,463 shares in the company, valued at approximately $272,688.57. This trade represents a 215.98 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 12.19% of the company’s stock.

Constellation Brands Price Performance

STZ stock opened at $174.08 on Thursday. Constellation Brands, Inc. has a 52-week low of $160.46 and a 52-week high of $274.87. The company has a quick ratio of 0.46, a current ratio of 1.10 and a debt-to-equity ratio of 1.26. The stock has a market cap of $31.46 billion, a price-to-earnings ratio of 46.79, a price-to-earnings-growth ratio of 1.52 and a beta of 1.75. The business has a fifty day moving average of $185.90 and a two-hundred day moving average of $222.14.

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

Constellation Brands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 7th were paid a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 2.32%. The ex-dividend date of this dividend was Friday, February 7th. Constellation Brands’s dividend payout ratio (DPR) is presently 108.60%.

Wall Street Analysts Forecast Growth

Several research firms have commented on STZ. Evercore ISI cut their price objective on Constellation Brands from $300.00 to $250.00 and set an “outperform” rating for the company in a research note on Monday, January 13th. BNP Paribas started coverage on Constellation Brands in a research report on Monday, November 25th. They set a “neutral” rating and a $261.00 price target for the company. Truist Financial decreased their price objective on Constellation Brands from $255.00 to $190.00 and set a “hold” rating on the stock in a report on Tuesday, January 14th. Barclays dropped their target price on shares of Constellation Brands from $282.00 to $214.00 and set an “overweight” rating for the company in a report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $203.00 target price (down from $262.00) on shares of Constellation Brands in a research report on Monday, January 13th. Eleven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $253.43.

About Constellation Brands

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.