Metis Global Partners LLC Sells 276 Shares of Constellation Brands, Inc. (NYSE:STZ)

Metis Global Partners LLC lessened its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 4.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,646 shares of the company’s stock after selling 276 shares during the period. Metis Global Partners LLC’s holdings in Constellation Brands were worth $1,365,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BKM Wealth Management LLC acquired a new position in shares of Constellation Brands in the 4th quarter worth approximately $28,000. Asset Dedication LLC lifted its position in shares of Constellation Brands by 3,833.3% during the 3rd quarter. Asset Dedication LLC now owns 118 shares of the company’s stock valued at $30,000 after acquiring an additional 115 shares during the period. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Constellation Brands during the 4th quarter valued at $37,000. Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of Constellation Brands during the 3rd quarter valued at $41,000. Finally, Exchange Traded Concepts LLC bought a new stake in Constellation Brands during the 4th quarter valued at $45,000. 77.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have commented on STZ. Royal Bank of Canada boosted their price target on shares of Constellation Brands from $295.00 to $308.00 and gave the company an “outperform” rating in a research note on Friday, April 12th. Evercore ISI boosted their price target on shares of Constellation Brands from $300.00 to $310.00 and gave the company an “outperform” rating in a research note on Friday, April 12th. Piper Sandler began coverage on shares of Constellation Brands in a research note on Friday, March 22nd. They set an “overweight” rating and a $300.00 price target for the company. BMO Capital Markets upped their target price on shares of Constellation Brands from $290.00 to $315.00 and gave the stock an “outperform” rating in a research note on Friday, April 12th. Finally, Jefferies Financial Group upped their target price on shares of Constellation Brands from $292.00 to $314.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. Three equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Constellation Brands presently has an average rating of “Moderate Buy” and a consensus target price of $298.55.

Constellation Brands Price Performance

NYSE STZ opened at $258.36 on Thursday. The company has a market cap of $47.27 billion, a PE ratio of 27.54, a price-to-earnings-growth ratio of 1.73 and a beta of 1.75. Constellation Brands, Inc. has a 52 week low of $223.01 and a 52 week high of $274.87. The company has a quick ratio of 0.53, a current ratio of 1.19 and a debt-to-equity ratio of 1.06. The firm’s 50-day simple moving average is $261.27 and its two-hundred day simple moving average is $249.24.

Constellation Brands (NYSE:STZ) last released its quarterly earnings data on Thursday, April 11th. The company reported $2.26 EPS for the quarter, beating the consensus estimate of $2.10 by $0.16. The business had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.09 billion. Constellation Brands had a net margin of 16.13% and a return on equity of 23.06%. The company’s revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.98 earnings per share. Research analysts predict that Constellation Brands, Inc. will post 13.51 earnings per share for the current year.

Constellation Brands Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Friday, May 3rd will be issued a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.56%. This is an increase from Constellation Brands’s previous quarterly dividend of $0.89. The ex-dividend date is Thursday, May 2nd. Constellation Brands’s dividend payout ratio is presently 43.07%.

Insider Transactions at Constellation Brands

In other news, EVP James A. Jr. Sabia sold 15,781 shares of the stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $263.63, for a total value of $4,160,345.03. Following the sale, the executive vice president now directly owns 20,910 shares of the company’s stock, valued at $5,512,503.30. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, EVP James A. Jr. Sabia sold 15,781 shares of the firm’s stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $263.63, for a total value of $4,160,345.03. Following the sale, the executive vice president now directly owns 20,910 shares of the company’s stock, valued at $5,512,503.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William A. Newlands sold 4,013 shares of the firm’s stock in a transaction that occurred on Friday, April 19th. The shares were sold at an average price of $263.25, for a total transaction of $1,056,422.25. Following the completion of the sale, the chief executive officer now directly owns 5,395 shares in the company, valued at $1,420,233.75. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 23,031 shares of company stock valued at $6,043,821. 16.19% of the stock is currently owned by corporate insiders.

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 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.