Vinva Investment Management Ltd Cuts Stake in Constellation Brands, Inc. (NYSE:STZ)

Vinva Investment Management Ltd lowered its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 38.1% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,304 shares of the company’s stock after selling 1,421 shares during the period. Vinva Investment Management Ltd’s holdings in Constellation Brands were worth $506,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in STZ. Thrivent Financial for Lutherans increased its stake in shares of Constellation Brands by 13.0% during the third quarter. Thrivent Financial for Lutherans now owns 7,341 shares of the company’s stock valued at $1,892,000 after buying an additional 845 shares during the period. Pathstone Holdings LLC increased its stake in shares of Constellation Brands by 7.2% during the third quarter. Pathstone Holdings LLC now owns 24,933 shares of the company’s stock valued at $6,425,000 after buying an additional 1,681 shares during the period. Prospera Financial Services Inc increased its stake in shares of Constellation Brands by 42.5% during the third quarter. Prospera Financial Services Inc now owns 3,919 shares of the company’s stock valued at $1,010,000 after buying an additional 1,168 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Constellation Brands during the third quarter valued at $815,000. Finally, King Luther Capital Management Corp increased its stake in shares of Constellation Brands by 12.4% during the third quarter. King Luther Capital Management Corp now owns 1,411 shares of the company’s stock valued at $364,000 after buying an additional 156 shares during the period. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Constellation Brands Trading Down 0.6 %

Constellation Brands stock opened at $177.73 on Friday. The company has a quick ratio of 0.46, a current ratio of 1.10 and a debt-to-equity ratio of 1.26. Constellation Brands, Inc. has a 52 week low of $160.46 and a 52 week high of $274.87. The company has a market capitalization of $32.12 billion, a price-to-earnings ratio of 47.78, a price-to-earnings-growth ratio of 1.52 and a beta of 1.75. The stock has a 50-day moving average price of $177.32 and a 200 day moving average price of $217.28.

Constellation Brands (NYSE:STZ) last announced 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). The company had revenue of $2.46 billion for the quarter, compared to analysts’ expectations of $2.53 billion. Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. The firm’s revenue was down .3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.19 earnings per share. Sell-side analysts anticipate that Constellation Brands, Inc. will post 13.5 EPS for the current year.

Constellation Brands Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 7th were given a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 2.27%. The ex-dividend date was Friday, February 7th. Constellation Brands’s dividend payout ratio is currently 108.60%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on STZ shares. Truist Financial dropped their price objective on Constellation Brands from $255.00 to $190.00 and set a “hold” rating on the stock in a research report on Tuesday, January 14th. UBS Group dropped their price objective on Constellation Brands from $265.00 to $223.00 and set a “buy” rating on the stock in a research report on Friday, January 17th. Evercore ISI dropped their price objective on Constellation Brands from $300.00 to $250.00 and set an “outperform” rating on the stock in a research report on Monday, January 13th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $203.00 price objective (down previously from $262.00) on shares of Constellation Brands in a research report on Monday, January 13th. Finally, Royal Bank of Canada dropped their price objective on Constellation Brands from $293.00 to $289.00 and set an “outperform” rating on the stock in a research report on Friday, March 7th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $250.41.

Insider Activity at Constellation Brands

In related news, Director William T. Giles purchased 1,000 shares of Constellation Brands stock in a transaction that occurred on Friday, January 17th. The stock was bought at an average cost of $186.39 per share, for a total transaction 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 acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 12.19% of the stock is owned by company 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.