Truist Financial Corp Sells 10,062 Shares of Constellation Brands, Inc. (NYSE:STZ)

Truist Financial Corp cut its holdings in Constellation Brands, Inc. (NYSE:STZ) by 15.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 55,593 shares of the company’s stock after selling 10,062 shares during the period. Truist Financial Corp’s holdings in Constellation Brands were worth $12,286,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. Van ECK Associates Corp increased its position in Constellation Brands by 1,844.7% in the 4th quarter. Van ECK Associates Corp now owns 924,274 shares of the company’s stock valued at $204,265,000 after buying an additional 876,745 shares in the last quarter. Grimes & Company Inc. bought a new stake in Constellation Brands in the 4th quarter valued at about $6,099,000. Copperleaf Capital LLC bought a new stake in Constellation Brands in the 4th quarter valued at about $343,000. Empowered Funds LLC increased its position in Constellation Brands by 62.8% in the 4th quarter. Empowered Funds LLC now owns 16,575 shares of the company’s stock valued at $3,663,000 after buying an additional 6,391 shares in the last quarter. Finally, Southern Style Financial Inc. bought a new stake in Constellation Brands in the 4th quarter valued at about $3,074,000. 77.34% of the stock is owned by institutional investors.

Constellation Brands Trading Down 0.1 %

Shares of STZ stock opened at $172.25 on Friday. The company’s fifty day simple moving average is $195.56 and its two-hundred day simple moving average is $226.30. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.10 and a quick ratio of 0.46. Constellation Brands, Inc. has a 1 year low of $160.46 and a 1 year high of $274.87. The stock has a market capitalization of $31.13 billion, a price-to-earnings ratio of 46.30, a PEG ratio of 1.49 and a beta of 0.90.

Constellation Brands (NYSE:STZ) last issued its earnings results on Friday, January 10th. The company reported $3.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.08). The business had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.53 billion. Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. The company’s revenue was down .3% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.19 EPS. As a group, analysts anticipate that Constellation Brands, Inc. will post 13.5 earnings per share for the current year.

Constellation Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Friday, February 7th will be issued a $1.01 dividend. The ex-dividend date is Friday, February 7th. This represents a $4.04 annualized dividend and a dividend yield of 2.35%. Constellation Brands’s payout ratio is currently 108.60%.

Analysts Set New Price Targets

A number of brokerages recently commented on STZ. Needham & Company LLC reaffirmed a “buy” rating and issued a $240.00 target price on shares of Constellation Brands in a research report on Monday, January 27th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $293.00 target price on shares of Constellation Brands in a research report on Monday, February 3rd. Morgan Stanley decreased their target price on Constellation Brands from $280.00 to $220.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. StockNews.com upgraded Constellation Brands from a “sell” rating to a “hold” rating in a research note on Thursday, February 13th. Finally, Evercore ISI cut their price target on Constellation Brands from $300.00 to $250.00 and set an “outperform” rating for the company in a research note on Monday, January 13th. Ten equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $254.29.

Insider Buying and Selling

In related news, Director William T. Giles bought 1,000 shares of the business’s stock in a transaction that occurred on Friday, January 17th. The stock was bought at an average cost of $186.39 per share, for a total transaction of $186,390.00. Following the completion of the transaction, the director now owns 1,463 shares of the company’s stock, valued at approximately $272,688.57. The trade was a 215.98 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 12.19% of the stock is owned by company insiders.

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.