Narwhal Capital Management Has $6.83 Million Holdings in Constellation Brands, Inc. (NYSE:STZ)

Narwhal Capital Management decreased its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 8.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,880 shares of the company’s stock after selling 2,729 shares during the quarter. Narwhal Capital Management’s holdings in Constellation Brands were worth $6,825,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Versant Capital Management Inc boosted its stake in Constellation Brands by 887.5% in the fourth quarter. Versant Capital Management Inc now owns 158 shares of the company’s stock valued at $35,000 after acquiring an additional 142 shares during the last quarter. Eastern Bank acquired a new position in shares of Constellation Brands in the 3rd quarter valued at $39,000. FSA Wealth Management LLC bought a new position in shares of Constellation Brands in the 3rd quarter worth $42,000. Truvestments Capital LLC acquired a new stake in shares of Constellation Brands during the third quarter worth $60,000. Finally, Continuum Advisory LLC increased its holdings in Constellation Brands by 68.0% in the third quarter. Continuum Advisory LLC now owns 252 shares of the company’s stock valued at $61,000 after purchasing an additional 102 shares during the last quarter. 77.34% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Argus cut Constellation Brands from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Royal Bank of Canada reissued an “outperform” rating and set a $308.00 price objective on shares of Constellation Brands in a research note on Tuesday, January 7th. Piper Sandler decreased their price objective on shares of Constellation Brands from $300.00 to $245.00 and set an “overweight” rating for the company in a report on Monday, January 13th. Evercore ISI cut their target price on shares of Constellation Brands from $300.00 to $250.00 and set an “outperform” rating on the stock in a report on Monday, January 13th. Finally, Wells Fargo & Company decreased their price target on shares of Constellation Brands from $295.00 to $275.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, Constellation Brands has an average rating of “Moderate Buy” and an average target price of $259.05.

Constellation Brands Price Performance

Shares of STZ opened at $182.99 on Monday. The company’s 50-day moving average is $221.02 and its 200-day moving average is $236.32. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.10 and a quick ratio of 0.46. The firm has a market capitalization of $33.07 billion, a PE ratio of 49.19, a PEG ratio of 1.58 and a beta of 0.91. Constellation Brands, Inc. has a fifty-two week low of $176.51 and a fifty-two week high of $274.87.

Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Friday, January 10th. The company reported $3.25 earnings per share 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 company had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.53 billion. During the same period in the prior year, the company earned $3.19 earnings per share. The firm’s revenue was down .3% compared to the same quarter last year. Equities analysts forecast that Constellation Brands, Inc. will post 13.52 EPS for the current year.

Constellation Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Friday, February 7th will be given a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 2.21%. The ex-dividend date of this dividend is Friday, February 7th. Constellation Brands’s payout ratio is 108.60%.

Insider Transactions at Constellation Brands

In other Constellation Brands news, Director William T. Giles purchased 1,000 shares of the stock in a transaction that occurred on Friday, January 17th. The shares were acquired at an average cost of $186.39 per share, with a total value of $186,390.00. Following the completion of the transaction, the director now owns 1,463 shares in the company, valued at $272,688.57. The trade was a 215.98 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP James A. Jr. Sabia sold 36,086 shares of the business’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $242.99, for a total transaction of $8,768,537.14. Following the completion of the sale, the executive vice president now directly owns 16,042 shares of the company’s stock, valued at $3,898,045.58. This represents a 69.23 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 69,172 shares of company stock valued at $16,778,841. 12.19% of the stock is currently owned by corporate insiders.

Constellation Brands Company 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.