Coerente Capital Management Sells 458 Shares of Constellation Brands, Inc. (NYSE:STZ)

Coerente Capital Management cut its position in Constellation Brands, Inc. (NYSE:STZFree Report) by 0.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 88,883 shares of the company’s stock after selling 458 shares during the period. Constellation Brands comprises about 4.4% of Coerente Capital Management’s portfolio, making the stock its 10th largest position. Coerente Capital Management’s holdings in Constellation Brands were worth $21,487,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Moneta Group Investment Advisors LLC raised its holdings in shares of Constellation Brands by 84,839.5% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 3,742,434 shares of the company’s stock worth $867,309,000 after acquiring an additional 3,738,028 shares during the period. Norges Bank acquired a new stake in shares of Constellation Brands during the fourth quarter worth $373,796,000. Barclays PLC raised its holdings in shares of Constellation Brands by 102.0% during the second quarter. Barclays PLC now owns 2,937,570 shares of the company’s stock worth $723,027,000 after acquiring an additional 1,483,668 shares during the period. Morgan Stanley raised its holdings in shares of Constellation Brands by 31.3% during the fourth quarter. Morgan Stanley now owns 3,809,273 shares of the company’s stock worth $882,799,000 after acquiring an additional 908,486 shares during the period. Finally, Darsana Capital Partners LP raised its holdings in shares of Constellation Brands by 288.9% during the third quarter. Darsana Capital Partners LP now owns 875,000 shares of the company’s stock worth $219,914,000 after acquiring an additional 650,000 shares during the period. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on STZ. Piper Sandler began coverage on shares of Constellation Brands in a report on Friday, March 22nd. They set an “overweight” rating and a $300.00 price objective on the stock. Argus downgraded shares of Constellation Brands from a “buy” rating to a “hold” rating in a research report on Wednesday, January 10th. JPMorgan Chase & Co. decreased their price objective on shares of Constellation Brands from $309.00 to $301.00 and set an “overweight” rating for the company in a research report on Thursday, December 21st. Bank of America lifted their price objective on shares of Constellation Brands from $290.00 to $300.00 and gave the company a “buy” rating in a research report on Monday, March 18th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $295.00 price objective on shares of Constellation Brands in a research report on Thursday, March 7th. Four equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, Constellation Brands has a consensus rating of “Moderate Buy” and an average price target of $290.37.

Read Our Latest Research Report on Constellation Brands

Constellation Brands Price Performance

Shares of Constellation Brands stock opened at $265.98 on Tuesday. Constellation Brands, Inc. has a twelve month low of $217.05 and a twelve month high of $273.65. The company has a quick ratio of 0.46, a current ratio of 1.05 and a debt-to-equity ratio of 1.05. The company has a 50-day simple moving average of $253.72 and a two-hundred day simple moving average of $246.42. The stock has a market capitalization of $48.63 billion, a price-to-earnings ratio of 31.48, a price-to-earnings-growth ratio of 1.89 and a beta of 0.97.

Constellation Brands (NYSE:STZGet Free Report) last issued its earnings results on Friday, January 5th. The company reported $3.19 EPS for the quarter, beating the consensus estimate of $3.03 by $0.16. The company had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.54 billion. Constellation Brands had a net margin of 14.76% and a return on equity of 23.35%. The business’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same period in the previous year, the company earned $2.83 EPS. Analysts forecast that Constellation Brands, Inc. will post 11.92 EPS for the current year.

Constellation Brands Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 22nd. Stockholders of record on Thursday, February 8th were given a $0.89 dividend. This represents a $3.56 annualized dividend and a dividend yield of 1.34%. The ex-dividend date was Wednesday, February 7th. Constellation Brands’s payout ratio is presently 42.13%.

Insider Activity

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

About Constellation Brands

(Free Report)

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.

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Institutional Ownership by Quarter for Constellation Brands (NYSE:STZ)

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