Harbor Investment Advisory LLC Reduces Stock Holdings in Constellation Brands, Inc. (NYSE:STZ)

Harbor Investment Advisory LLC lessened its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 38.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,976 shares of the company’s stock after selling 1,254 shares during the period. Harbor Investment Advisory LLC’s holdings in Constellation Brands were worth $437,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Versant Capital Management Inc boosted its stake in shares of Constellation Brands by 887.5% during the 4th quarter. Versant Capital Management Inc now owns 158 shares of the company’s stock worth $35,000 after purchasing an additional 142 shares during the period. Eastern Bank purchased a new stake in Constellation Brands in the 3rd quarter worth about $39,000. FSA Wealth Management LLC bought a new position in shares of Constellation Brands during the third quarter valued at approximately $42,000. Truvestments Capital LLC purchased a new stake in shares of Constellation Brands in the third quarter worth approximately $60,000. Finally, Continuum Advisory LLC raised its holdings in shares of Constellation Brands by 68.0% in the third quarter. Continuum Advisory LLC now owns 252 shares of the company’s stock worth $61,000 after buying an additional 102 shares during the period. 77.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Piper Sandler dropped their price objective on Constellation Brands from $300.00 to $245.00 and set an “overweight” rating for the company in a report on Monday, January 13th. UBS Group reduced their price target on shares of Constellation Brands from $265.00 to $223.00 and set a “buy” rating on the stock in a research note on Friday, January 17th. Royal Bank of Canada reiterated an “outperform” rating and set a $308.00 price objective on shares of Constellation Brands in a report on Tuesday, January 7th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $203.00 target price (down from $262.00) on shares of Constellation Brands in a research note on Monday, January 13th. Finally, Bank of America reiterated a “neutral” rating and issued a $255.00 price target (down previously from $300.00) on shares of Constellation Brands in a report on Monday, October 7th. One analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $259.05.

Insiders Place Their Bets

In related news, CEO William A. Newlands sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $243.58, for a total value of $6,089,500.00. Following the sale, the chief executive officer now owns 7,274 shares in the company, valued at $1,771,800.92. This represents a 77.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William T. Giles purchased 1,000 shares of Constellation Brands stock in a transaction on Friday, January 17th. The shares were acquired at an average cost of $186.39 per share, with a total value of $186,390.00. Following the completion of the transaction, the director now directly owns 1,463 shares in the company, valued at $272,688.57. The trade was a 215.98 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 69,172 shares of company stock valued at $16,778,841. Insiders own 12.19% of the company’s stock.

Constellation Brands Stock Performance

Shares of STZ opened at $182.99 on Wednesday. The company has a current ratio of 1.10, a quick ratio of 0.46 and a debt-to-equity ratio of 1.26. The firm has a market cap of $33.07 billion, a PE ratio of 49.19, a P/E/G ratio of 1.62 and a beta of 0.91. Constellation Brands, Inc. has a 12 month low of $176.51 and a 12 month high of $274.87. The stock has a fifty day moving average price of $225.70 and a 200-day moving average price of $238.27.

Constellation Brands (NYSE:STZ) last released 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). The business had revenue of $2.46 billion during the quarter, compared to analysts’ expectations of $2.53 billion. Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. The company’s quarterly revenue was down .3% compared to the same quarter last year. During the same quarter last year, the business posted $3.19 earnings per share. Equities research analysts predict that Constellation Brands, Inc. will post 13.52 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

The business also recently declared 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. The ex-dividend date of this dividend is Friday, February 7th. This represents a $4.04 dividend on an annualized basis and a yield of 2.21%. Constellation Brands’s payout ratio is 108.60%.

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.