Baird Financial Group Inc. Trims Stock Holdings in Constellation Brands, Inc. (NYSE:STZ)

Baird Financial Group Inc. trimmed its position in shares of Constellation Brands, Inc. (NYSE:STZ - Free Report) by 7.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 101,561 shares of the company's stock after selling 8,546 shares during the period. Baird Financial Group Inc. owned approximately 0.06% of Constellation Brands worth $22,445,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Mainstream Capital Management LLC acquired a new stake in Constellation Brands during the 4th quarter worth approximately $25,000. SBI Securities Co. Ltd. acquired a new position in Constellation Brands in the fourth quarter valued at $26,000. Compagnie Lombard Odier SCmA purchased a new position in Constellation Brands during the 4th quarter worth approximately $27,000. Union Bancaire Privee UBP SA purchased a new position in shares of Constellation Brands during the fourth quarter worth approximately $28,000. Finally, Optiver Holding B.V. purchased a new position in Constellation Brands during the 4th quarter worth $31,000. Institutional investors and hedge funds own 77.34% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on STZ shares. Barclays lifted their target price on Constellation Brands from $203.00 to $207.00 and gave the company an "overweight" rating in a research note on Monday, April 14th. JPMorgan Chase & Co. dropped their target price on shares of Constellation Brands from $203.00 to $194.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Truist Financial cut their price target on Constellation Brands from $255.00 to $190.00 and set a "hold" rating for the company in a research note on Tuesday, January 14th. BMO Capital Markets cut their price objective on Constellation Brands from $260.00 to $215.00 and set an "outperform" rating for the company in a research report on Friday, April 11th. Finally, Evercore ISI reduced their target price on shares of Constellation Brands from $300.00 to $250.00 and set an "outperform" rating on the stock in a report on Monday, January 13th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat, Constellation Brands presently has a consensus rating of "Hold" and a consensus price target of $224.42.

Constellation Brands Stock Performance

NYSE:STZ opened at $187.20 on Wednesday. Constellation Brands, Inc. has a twelve month low of $160.46 and a twelve month high of $265.70. The firm has a market capitalization of $33.33 billion, a price-to-earnings ratio of 50.32, a PEG ratio of 1.52 and a beta of 1.75. 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's fifty day simple moving average is $182.42 and its 200 day simple moving average is $201.90.

Constellation Brands (NYSE:STZ - Get Free Report) last issued its quarterly earnings data on Wednesday, April 9th. The company reported $2.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.28 by $0.35. Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. The company had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.14 billion. During the same quarter last year, the company earned $2.26 earnings per share. Constellation Brands's revenue for the quarter was up 1.2% on a year-over-year basis. As a group, equities research analysts expect that Constellation Brands, Inc. will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 29th will be issued a dividend of $1.02 per share. The ex-dividend date is Tuesday, April 29th. This is an increase from Constellation Brands's previous quarterly dividend of $1.01. This represents a $4.08 annualized dividend and a yield of 2.18%. Constellation Brands's payout ratio is currently -800.00%.

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.

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