NFJ Investment Group LLC Reduces Stock Holdings in Constellation Brands, Inc. (NYSE:STZ)

NFJ Investment Group LLC reduced its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 1.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 106,272 shares of the company’s stock after selling 2,110 shares during the quarter. NFJ Investment Group LLC’s holdings in Constellation Brands were worth $23,486,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in Constellation Brands during the 4th quarter worth about $445,883,000. Vanguard Group Inc. lifted its stake in shares of Constellation Brands by 13.3% during the 4th 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 lifted its position in Constellation Brands by 1,844.7% during the fourth quarter. Van ECK Associates Corp now owns 924,274 shares of the company’s stock worth $204,265,000 after buying an additional 876,745 shares during the period. Grantham Mayo Van Otterloo & Co. LLC lifted its holdings in shares of Constellation Brands by 42.9% during the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 2,454,258 shares of the company’s stock worth $542,391,000 after acquiring an additional 736,780 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in Constellation Brands during the fourth quarter worth approximately $105,766,000. Institutional investors and hedge funds own 77.34% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on STZ shares. TD Cowen lowered their price target on Constellation Brands from $270.00 to $260.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. Roth Capital reduced 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. Truist Financial dropped their price objective on shares of Constellation Brands from $255.00 to $190.00 and set a “hold” rating on the stock in a research note on Tuesday, January 14th. Argus lowered Constellation Brands from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Constellation Brands from $203.00 to $194.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. Eleven analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $224.42.

Insider Activity

In other news, Director William T. Giles bought 1,000 shares of the stock in a transaction that occurred on Friday, January 17th. The shares were purchased at an average cost of $186.39 per share, with a total value of $186,390.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 12.19% of the stock is owned by insiders.

Constellation Brands Trading Down 1.8 %

Shares of STZ stock opened at $183.81 on Wednesday. Constellation Brands, Inc. has a 1 year low of $160.46 and a 1 year high of $265.70. The firm has a market capitalization of $33.22 billion, a PE ratio of 49.41, a price-to-earnings-growth ratio of 1.52 and a beta of 1.75. The stock has a fifty day moving average of $177.41 and a two-hundred day moving average of $208.04. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.46 and a current ratio of 1.10.

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

Constellation Brands Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 29th will be paid a dividend of $1.02 per share. This is a positive change from Constellation Brands’s previous quarterly dividend of $1.01. This represents a $4.08 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date is Tuesday, April 29th. Constellation Brands’s dividend payout ratio (DPR) is presently -800.00%.

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.