Searle & CO. Lowers Holdings in Constellation Brands, Inc. (NYSE:STZ)

Searle & CO. lowered its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 8.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 1,050 shares of the company’s stock after selling 100 shares during the period. Searle & CO.’s holdings in Constellation Brands were worth $254,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Morgan Stanley increased its position in shares of Constellation Brands by 1.5% during the third quarter. Morgan Stanley now owns 4,050,468 shares of the company’s stock worth $1,018,005,000 after purchasing an additional 58,518 shares in the last quarter. Northern Trust Corp increased its position in shares of Constellation Brands by 3.7% in the 3rd quarter. Northern Trust Corp now owns 1,499,035 shares of the company’s stock valued at $376,752,000 after acquiring an additional 53,862 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Constellation Brands by 9.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,015,105 shares of the company’s stock valued at $255,126,000 after acquiring an additional 85,330 shares during the period. Darsana Capital Partners LP increased its position in shares of Constellation Brands by 288.9% in the 3rd quarter. Darsana Capital Partners LP now owns 875,000 shares of the company’s stock valued at $219,914,000 after acquiring an additional 650,000 shares during the period. Finally, Grantham Mayo Van Otterloo & Co. LLC grew its position in Constellation Brands by 9.9% during the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 800,686 shares of the company’s stock worth $201,236,000 after purchasing an additional 71,979 shares during the period. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Constellation Brands Stock Performance

NYSE STZ traded up $0.49 on Wednesday, hitting $253.95. 1,007,775 shares of the company’s stock were exchanged, compared to its average volume of 1,249,633. The firm has a market cap of $46.43 billion, a price-to-earnings ratio of 27.02, a P/E/G ratio of 1.76 and a beta of 0.97. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.19 and a quick ratio of 0.53. The firm’s 50-day moving average price is $260.31 and its two-hundred day moving average price is $248.46. Constellation Brands, Inc. has a fifty-two week low of $221.81 and a fifty-two week high of $274.87.

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

Constellation Brands Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Friday, May 3rd will be issued a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date is Thursday, May 2nd. This is a boost from Constellation Brands’s previous quarterly dividend of $0.89. Constellation Brands’s dividend payout ratio is 37.95%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on STZ. Barclays increased their price target on Constellation Brands from $294.00 to $295.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Bank of America raised their price target on shares of Constellation Brands from $290.00 to $300.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Piper Sandler initiated coverage on shares of Constellation Brands in a research note on Friday, March 22nd. They issued an “overweight” rating and a $300.00 target price on the stock. Deutsche Bank Aktiengesellschaft raised their price target on shares of Constellation Brands from $256.00 to $262.00 and gave the stock a “hold” rating in a report on Wednesday, April 10th. Finally, Jefferies Financial Group raised their price target on shares of Constellation Brands from $292.00 to $314.00 and gave the stock a “buy” rating in a report on Friday, April 12th. Three equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $298.55.

Insider Buying and Selling at Constellation Brands

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

Constellation Brands Company 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.