Constellation Brands, Inc. (NYSE:STZ) Shares Sold by Rockefeller Capital Management L.P.

Rockefeller Capital Management L.P. trimmed its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 5.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 98,498 shares of the company’s stock after selling 5,808 shares during the period. Rockefeller Capital Management L.P. owned about 0.05% of Constellation Brands worth $21,774,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of STZ. Vanguard Group Inc. grew its holdings in Constellation Brands by 13.3% in the fourth quarter. Vanguard Group Inc. now owns 15,534,787 shares of the company’s stock valued at $3,433,188,000 after purchasing an additional 1,821,969 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Constellation Brands by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 3,204,003 shares of the company’s stock worth $705,844,000 after buying an additional 63,323 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC boosted its position in shares of Constellation Brands by 42.9% in 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 buying an additional 736,780 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Constellation Brands by 13.2% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,176,095 shares of the company’s stock valued at $482,919,000 after acquiring an additional 253,445 shares during the last quarter. Finally, Norges Bank purchased a new position in Constellation Brands during the 4th quarter valued at about $445,883,000. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on STZ. UBS Group cut their price objective on Constellation Brands from $265.00 to $223.00 and set a “buy” rating for the company in a research report on Friday, January 17th. Needham & Company LLC reissued a “buy” rating and set a $215.00 price target on shares of Constellation Brands in a research report on Thursday, April 10th. Truist Financial reduced 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. Royal Bank of Canada cut their target price on shares of Constellation Brands from $289.00 to $233.00 and set an “outperform” rating for the company in a research note on Monday. Finally, Roth Capital reduced their target price on shares of Constellation Brands from $298.00 to $284.00 and set a “buy” rating on the stock in a report on Friday, January 17th. Eleven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Constellation Brands has a consensus rating of “Hold” and a consensus price target of $228.50.

Constellation Brands Price Performance

Constellation Brands stock opened at $187.41 on Tuesday. The firm has a fifty day moving average of $177.15 and a 200-day moving average of $208.21. Constellation Brands, Inc. has a 52-week low of $160.46 and a 52-week high of $265.70. The company has a quick ratio of 0.46, a current ratio of 1.10 and a debt-to-equity ratio of 1.26. The firm has a market capitalization of $33.87 billion, a P/E ratio of 50.38, a PEG ratio of 1.52 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last issued its earnings results 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. The company had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.14 billion. Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The company’s revenue was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.26 earnings per share. As a group, analysts predict that Constellation Brands, Inc. will post 13.5 EPS for the current year.

Constellation Brands Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 29th will be given a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.18%. This is a positive change from Constellation Brands’s previous quarterly dividend of $1.01. The ex-dividend date of this dividend is Tuesday, April 29th. Constellation Brands’s payout ratio is presently -792.16%.

Insider Transactions at Constellation Brands

In related news, Director William T. Giles purchased 1,000 shares of the firm’s stock in a transaction dated Friday, January 17th. The stock was acquired at an average price 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 of the company’s stock, valued at $272,688.57. This represents a 215.98 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate 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.