Tidal Investments LLC Sells 5,052 Shares of Constellation Brands, Inc. (NYSE:STZ)

Tidal Investments LLC lessened its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 37.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,540 shares of the company’s stock after selling 5,052 shares during the period. Tidal Investments LLC’s holdings in Constellation Brands were worth $2,201,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp grew its holdings in shares of Constellation Brands by 6.0% during the third quarter. State Street Corp now owns 7,144,428 shares of the company’s stock worth $1,841,048,000 after buying an additional 402,211 shares in the last quarter. Janus Henderson Group PLC boosted its position in Constellation Brands by 1.2% during the 3rd quarter. Janus Henderson Group PLC now owns 1,853,081 shares of the company’s stock worth $477,515,000 after acquiring an additional 21,454 shares during the last quarter. Legal & General Group Plc grew its stake in shares of Constellation Brands by 5.7% during the 2nd quarter. Legal & General Group Plc now owns 1,335,976 shares of the company’s stock worth $343,717,000 after acquiring an additional 72,637 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Constellation Brands by 31.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,002,332 shares of the company’s stock valued at $257,865,000 after purchasing an additional 241,982 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its position in shares of Constellation Brands by 23,184.7% in the third quarter. International Assets Investment Management LLC now owns 499,689 shares of the company’s stock worth $128,765,000 after purchasing an additional 497,543 shares in the last quarter. Institutional investors and hedge funds own 77.34% of the company’s stock.

Analyst Upgrades and Downgrades

STZ has been the subject of a number of analyst reports. Truist Financial decreased their target price on shares of Constellation Brands from $265.00 to $255.00 and set a “hold” rating for the company in a research report on Friday, October 4th. Needham & Company LLC began coverage on Constellation Brands in a report on Friday, December 6th. They issued a “buy” rating and a $280.00 price objective for the company. Roth Mkm reiterated a “buy” rating and set a $298.00 target price on shares of Constellation Brands in a report on Friday, October 4th. BNP Paribas initiated 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. Finally, Wells Fargo & Company lowered their price target on Constellation Brands from $300.00 to $295.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 26th. Five research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $288.70.

Constellation Brands Price Performance

Constellation Brands stock opened at $232.92 on Tuesday. The company has a market capitalization of $42.29 billion, a price-to-earnings ratio of 75.38, a PEG ratio of 1.69 and a beta of 1.75. The stock’s 50 day moving average is $238.79 and its 200-day moving average is $245.94. The company has a current ratio of 1.25, a quick ratio of 0.53 and a debt-to-equity ratio of 1.31. Constellation Brands, Inc. has a 12 month low of $224.76 and a 12 month high of $274.87.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings data on Thursday, October 3rd. The company reported $4.32 earnings per share for the quarter, topping the consensus estimate of $4.08 by $0.24. The firm had revenue of $2.92 billion for the quarter, compared to analysts’ expectations of $2.95 billion. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The company’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter last year, the business earned $3.70 EPS. Equities research analysts expect that Constellation Brands, Inc. will post 13.57 EPS for the current year.

Constellation Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th were paid a $1.01 dividend. This represents a $4.04 annualized dividend and a yield of 1.73%. The ex-dividend date was Tuesday, November 5th. Constellation Brands’s dividend payout ratio (DPR) is 130.74%.

Insider Buying and Selling at Constellation Brands

In related news, Director Robert Sands sold 119,274 shares of the firm’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $242.37, for a total value of $28,908,439.38. Following the transaction, the director now owns 431,729 shares in the company, valued at approximately $104,638,157.73. This trade represents a 21.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Wildstar Partners Llc sold 660 shares of the company’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $241.00, for a total transaction of $159,060.00. Following the sale, the insider now directly owns 1,736,884 shares of the company’s stock, valued at $418,589,044. This represents a 0.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 189,956 shares of company stock valued at $46,058,091 in the last quarter. Company insiders own 12.19% of the company’s stock.

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.