Federated Hermes Inc. Cuts Stock Position in Constellation Brands, Inc. (NYSE:STZ)

Federated Hermes Inc. trimmed its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 79.8% in the 4th quarter, HoldingsChannel reports. The firm owned 17,523 shares of the company’s stock after selling 69,258 shares during the period. Federated Hermes Inc.’s holdings in Constellation Brands were worth $3,873,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Mainstream Capital Management LLC purchased a new position in shares of Constellation Brands in the 4th quarter valued at about $25,000. SBI Securities Co. Ltd. purchased a new stake in Constellation Brands in the 4th quarter valued at $26,000. Compagnie Lombard Odier SCmA purchased a new stake in shares of Constellation Brands in the fourth quarter valued at about $27,000. Union Bancaire Privee UBP SA purchased a new stake in Constellation Brands during the 4th quarter valued at approximately $28,000. Finally, Versant Capital Management Inc lifted its holdings in shares of Constellation Brands by 887.5% during the fourth quarter. Versant Capital Management Inc now owns 158 shares of the company’s stock worth $35,000 after purchasing an additional 142 shares during the period. 77.34% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Constellation Brands

In other news, Director William T. Giles purchased 1,000 shares of the company’s stock in a transaction on Friday, January 17th. The shares were bought at an average price of $186.39 per share, for a total transaction of $186,390.00. Following the completion of the purchase, the director now owns 1,463 shares of the company’s stock, valued at $272,688.57. This trade 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 accessible through the SEC website. 12.19% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

STZ has been the subject of a number of recent analyst reports. UBS Group reduced their price objective on shares of Constellation Brands from $265.00 to $223.00 and set a “buy” rating for the company in a research report on Friday, January 17th. Roth Mkm cut their target price on shares of Constellation Brands from $284.00 to $256.00 and set a “buy” rating for the company in a research report on Thursday, April 3rd. Roth Capital decreased their price objective on Constellation Brands from $298.00 to $284.00 and set a “buy” rating on the stock in a research note on Friday, January 17th. Evercore ISI cut their price target on Constellation Brands from $300.00 to $250.00 and set an “outperform” rating for the company in a report on Monday, January 13th. Finally, Wells Fargo & Company decreased their target price on shares of Constellation Brands from $230.00 to $210.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 2nd. Eleven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $231.10.

Constellation Brands Stock Up 0.5 %

Shares of NYSE STZ opened at $185.63 on Friday. The firm has a market cap of $33.55 billion, a price-to-earnings ratio of 49.90, a PEG ratio of 1.52 and a beta of 1.75. Constellation Brands, Inc. has a 1 year low of $160.46 and a 1 year high of $270.18. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.46 and a current ratio of 1.10. The stock’s 50-day simple moving average is $176.86 and its 200-day simple moving average is $209.03.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings data on Wednesday, April 9th. The company reported $2.63 earnings per share for the quarter, topping the consensus estimate of $2.28 by $0.35. Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. The company had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.14 billion. During the same period last year, the business earned $2.26 EPS. The firm’s revenue for the quarter was up 1.2% compared to the same quarter last year. As a group, equities analysts anticipate that Constellation Brands, Inc. will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 29th will be given a $1.02 dividend. This is an increase from Constellation Brands’s previous quarterly dividend of $1.01. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date of this dividend is Tuesday, April 29th. Constellation Brands’s dividend payout ratio (DPR) is presently -792.16%.

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.