Constellation Brands, Inc. (NYSE:STZ) Shares Sold by Ballast Inc.

Ballast Inc. lowered its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 10.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,599 shares of the company’s stock after selling 183 shares during the quarter. Ballast Inc.’s holdings in Constellation Brands were worth $387,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of Constellation Brands by 2.6% during the first quarter. Vanguard Group Inc. now owns 12,601,280 shares of the company’s stock valued at $2,902,327,000 after acquiring an additional 313,344 shares in the last quarter. State Street Corp increased its holdings in Constellation Brands by 0.8% in the 2nd quarter. State Street Corp now owns 6,936,028 shares of the company’s stock worth $1,707,165,000 after buying an additional 51,968 shares during the period. Morgan Stanley increased its holdings in Constellation Brands by 1.5% in the 3rd quarter. Morgan Stanley now owns 4,050,468 shares of the company’s stock worth $1,018,005,000 after buying an additional 58,518 shares during the period. Moneta Group Investment Advisors LLC raised its position in Constellation Brands by 84,839.5% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 3,742,434 shares of the company’s stock worth $867,309,000 after buying an additional 3,738,028 shares during the last quarter. Finally, Barclays PLC lifted its stake in Constellation Brands by 102.0% during the 2nd quarter. Barclays PLC now owns 2,937,570 shares of the company’s stock valued at $723,027,000 after acquiring an additional 1,483,668 shares during the period. Institutional investors and hedge funds own 77.34% of the company’s stock.

Constellation Brands Price Performance

Shares of Constellation Brands stock opened at $271.77 on Friday. The business has a 50 day simple moving average of $253.01 and a two-hundred day simple moving average of $246.36. Constellation Brands, Inc. has a 12 month low of $217.05 and a 12 month high of $273.65. The stock has a market capitalization of $49.68 billion, a P/E ratio of 32.16, a PEG ratio of 1.87 and a beta of 0.96. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.05 and a quick ratio of 0.46.

Constellation Brands (NYSE:STZ) last announced its earnings results on Friday, January 5th. The company reported $3.19 EPS for the quarter, beating analysts’ consensus estimates of $3.03 by $0.16. Constellation Brands had a return on equity of 23.35% and a net margin of 14.76%. The business had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.54 billion. During the same quarter in the prior year, the firm earned $2.83 earnings per share. The business’s revenue was up 1.4% compared to the same quarter last year. As a group, analysts predict that Constellation Brands, Inc. will post 11.92 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 22nd. Investors of record on Thursday, February 8th were issued a $0.89 dividend. The ex-dividend date of this dividend was Wednesday, February 7th. This represents a $3.56 annualized dividend and a dividend yield of 1.31%. Constellation Brands’s dividend payout ratio is presently 42.13%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on STZ shares. Argus lowered shares of Constellation Brands from a “buy” rating to a “hold” rating in a research note on Wednesday, January 10th. Piper Sandler started coverage on Constellation Brands in a research note on Friday, March 22nd. They issued an “overweight” rating and a $300.00 target price on the stock. Bank of America upped their target price on Constellation Brands from $290.00 to $300.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Royal Bank of Canada restated an “outperform” rating and issued a $295.00 target price on shares of Constellation Brands in a research note on Thursday, March 7th. Finally, Evercore ISI restated an “outperform” rating and issued a $300.00 target price on shares of Constellation Brands in a research note on Wednesday. Four investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $290.37.

Insider Activity at Constellation Brands

In related news, major shareholder Family Foundation Sands sold 354,616 shares of the stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $250.26, for a total value of $88,746,200.16. Following the completion of the sale, the insider now owns 54,461 shares of the company’s stock, valued at $13,629,409.86. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 16.19% of the company’s stock.

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 Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Victoria, Vicky Chamoy, and Pacifico brands.