Sterling Capital Management LLC Has $135,000 Stock Holdings in Constellation Brands, Inc. (NYSE:STZ)

Sterling Capital Management LLC lowered its stake in Constellation Brands, Inc. (NYSE:STZ) by 96.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 609 shares of the company’s stock after selling 14,573 shares during the period. Sterling Capital Management LLC’s holdings in Constellation Brands were worth $135,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Allworth Financial LP grew its position in Constellation Brands by 0.8% during the 4th quarter. Allworth Financial LP now owns 7,357 shares of the company’s stock worth $1,626,000 after acquiring an additional 59 shares during the last quarter. BSW Wealth Partners increased its stake in shares of Constellation Brands by 4.2% in the fourth quarter. BSW Wealth Partners now owns 1,563 shares of the company’s stock valued at $345,000 after buying an additional 63 shares during the period. Philip James Wealth Mangement LLC raised its holdings in Constellation Brands by 8.0% in the 4th quarter. Philip James Wealth Mangement LLC now owns 923 shares of the company’s stock valued at $204,000 after buying an additional 68 shares during the last quarter. Oak Asset Management LLC boosted its position in Constellation Brands by 0.4% during the 4th quarter. Oak Asset Management LLC now owns 17,611 shares of the company’s stock worth $3,892,000 after buying an additional 71 shares during the period. Finally, Barden Capital Management Inc. boosted its position in Constellation Brands by 1.3% during the 4th quarter. Barden Capital Management Inc. now owns 5,574 shares of the company’s stock worth $1,232,000 after buying an additional 72 shares during the period. Institutional investors own 77.34% of the company’s stock.

Constellation Brands Stock Performance

NYSE STZ opened at $187.69 on Tuesday. Constellation Brands, Inc. has a 12-month low of $160.46 and a 12-month high of $265.70. The company has a market cap of $33.92 billion, a P/E ratio of 50.45, a PEG ratio of 1.52 and a beta of 1.75. The company has a fifty day simple moving average of $179.10 and a 200 day simple moving average of $205.88. The company has a current ratio of 1.10, a quick ratio of 0.46 and a debt-to-equity ratio of 1.26.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Wednesday, April 9th. The company reported $2.63 earnings per share for the quarter, beating the consensus estimate of $2.28 by $0.35. The business had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $2.14 billion. Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. The firm’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter last year, the firm earned $2.26 EPS. Sell-side analysts predict that Constellation Brands, Inc. will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 29th will be issued a $1.02 dividend. The ex-dividend date of this dividend is Tuesday, April 29th. This represents a $4.08 annualized dividend and a dividend yield of 2.17%. This is an increase from Constellation Brands’s previous quarterly dividend of $1.01. Constellation Brands’s dividend payout ratio is currently -800.00%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on STZ. Roth Mkm cut their price target on shares of Constellation Brands from $284.00 to $256.00 and set a “buy” rating on the stock in a report on Thursday, April 3rd. Roth Capital cut their target price on Constellation Brands from $298.00 to $284.00 and set a “buy” rating on the stock in a report on Friday, January 17th. Piper Sandler downgraded Constellation Brands from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $245.00 to $200.00 in a research report on Monday, February 3rd. StockNews.com cut Constellation Brands from a “hold” rating to a “sell” rating in a report on Thursday, April 17th. Finally, Citigroup lowered their price target on shares of Constellation Brands from $200.00 to $190.00 and set a “neutral” rating for the company in a report on Friday, April 11th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $224.42.

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.