Oak Ridge Investments LLC Trims Stock Holdings in Constellation Brands, Inc. (NYSE:STZ)

Oak Ridge Investments LLC lowered its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 9.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 23,027 shares of the company’s stock after selling 2,336 shares during the quarter. Oak Ridge Investments LLC’s holdings in Constellation Brands were worth $5,089,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of STZ. Vanguard Personalized Indexing Management LLC increased its stake in Constellation Brands by 20.1% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 10,675 shares of the company’s stock worth $2,694,000 after buying an additional 1,783 shares during the period. Brighton Jones LLC grew its stake in Constellation Brands by 4.7% in the 2nd quarter. Brighton Jones LLC now owns 950 shares of the company’s stock worth $244,000 after acquiring an additional 43 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its position in shares of Constellation Brands by 14.1% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 3,118 shares of the company’s stock worth $802,000 after acquiring an additional 385 shares during the period. Benjamin Edwards Inc. raised its stake in shares of Constellation Brands by 3,785.0% during the second quarter. Benjamin Edwards Inc. now owns 1,554 shares of the company’s stock valued at $400,000 after acquiring an additional 1,514 shares in the last quarter. Finally, King Luther Capital Management Corp boosted its holdings in shares of Constellation Brands by 14.1% in the second quarter. King Luther Capital Management Corp now owns 1,255 shares of the company’s stock valued at $323,000 after purchasing an additional 155 shares during the period. Institutional investors own 77.34% of the company’s stock.

Insider Activity

In related news, EVP James A. Jr. Sabia sold 36,086 shares of the firm’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $242.99, for a total transaction of $8,768,537.14. Following the sale, the executive vice president now directly owns 16,042 shares of the company’s stock, valued at $3,898,045.58. This trade represents a 69.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William A. Newlands sold 7,426 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $237.24, for a total value of $1,761,744.24. Following the completion of the transaction, the chief executive officer now directly owns 7,274 shares of the company’s stock, valued at $1,725,683.76. The trade was a 50.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 69,172 shares of company stock valued at $16,778,841 in the last ninety days. Insiders own 12.19% of the company’s stock.

Constellation Brands Trading Down 0.3 %

NYSE:STZ opened at $184.05 on Friday. The company has a current ratio of 1.25, a quick ratio of 0.53 and a debt-to-equity ratio of 1.31. The firm has a fifty day simple moving average of $226.75 and a 200-day simple moving average of $238.96. Constellation Brands, Inc. has a 12 month low of $176.51 and a 12 month high of $274.87. The company has a market capitalization of $33.42 billion, a P/E ratio of 49.48, a PEG ratio of 1.28 and a beta of 0.91.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings results on Friday, January 10th. The company reported $3.25 EPS for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.08). Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The firm had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.53 billion. During the same period in the prior year, the firm posted $3.19 EPS. The business’s revenue was down .3% compared to the same quarter last year. On average, equities research analysts anticipate that Constellation Brands, Inc. will post 13.72 earnings per share for the current year.

Constellation Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Friday, February 7th will be paid a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 2.20%. The ex-dividend date of this dividend is Friday, February 7th. Constellation Brands’s payout ratio is 108.60%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on STZ. UBS Group decreased their target price on Constellation Brands from $265.00 to $223.00 and set a “buy” rating for the company in a research report on Friday. Bank of America restated a “neutral” rating and issued a $255.00 price objective (down from $300.00) on shares of Constellation Brands in a report on Monday, October 7th. Royal Bank of Canada reiterated an “outperform” rating and set a $308.00 target price on shares of Constellation Brands in a report on Tuesday, January 7th. Piper Sandler reduced their price target on shares of Constellation Brands from $300.00 to $245.00 and set an “overweight” rating for the company in a report on Monday, January 13th. Finally, Morgan Stanley dropped their price objective on shares of Constellation Brands from $280.00 to $220.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, Constellation Brands currently has an average rating of “Moderate Buy” and a consensus price target of $259.05.

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.