Constellation Brands, Inc. (NYSE:STZ) Shares Sold by Clark Capital Management Group Inc.

Clark Capital Management Group Inc. reduced its position in Constellation Brands, Inc. (NYSE:STZ - Free Report) by 22.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 113,852 shares of the company's stock after selling 33,729 shares during the quarter. Clark Capital Management Group Inc. owned approximately 0.06% of Constellation Brands worth $25,161,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of STZ. Mainstream Capital Management LLC acquired a new position in Constellation Brands in the 4th quarter valued at about $25,000. SBI Securities Co. Ltd. acquired a new position in Constellation Brands in the 4th quarter valued at about $26,000. Compagnie Lombard Odier SCmA acquired a new position in Constellation Brands in the 4th quarter valued at about $27,000. Union Bancaire Privee UBP SA acquired a new position in Constellation Brands in the 4th quarter valued at about $28,000. Finally, Optiver Holding B.V. acquired a new position in Constellation Brands in the 4th quarter valued at about $31,000. 77.34% of the stock is owned by institutional investors and hedge funds.

Constellation Brands Price Performance

Shares of Constellation Brands stock traded down $1.61 on Tuesday, hitting $188.29. The company's stock had a trading volume of 1,392,180 shares, compared to its average volume of 1,733,112. Constellation Brands, Inc. has a 52-week low of $160.46 and a 52-week high of $265.70. The company has a quick ratio of 0.46, a current ratio of 1.10 and a debt-to-equity ratio of 1.26. The firm has a fifty day moving average price of $183.69 and a 200-day moving average price of $200.23. The company has a market capitalization of $33.52 billion, a P/E ratio of 50.62, a price-to-earnings-growth ratio of 1.52 and a beta of 1.75.

Constellation Brands (NYSE:STZ - Get Free Report) last released its quarterly earnings data on Wednesday, April 9th. The company reported $2.63 EPS for the quarter, topping the consensus estimate of $2.28 by $0.35. The business had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.14 billion. Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. The business's revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.26 EPS. On average, 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 business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 29th will be paid a dividend of $1.02 per share. The ex-dividend date is Tuesday, April 29th. This represents a $4.08 dividend on an annualized basis 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

Several equities analysts have recently issued reports on STZ shares. The Goldman Sachs Group decreased their price objective on Constellation Brands from $260.00 to $225.00 and set a "buy" rating for the company in a research note on Friday, April 11th. Barclays lifted their price objective on Constellation Brands from $203.00 to $207.00 and gave the company an "overweight" rating in a research note on Monday, April 14th. Morgan Stanley decreased their price objective on Constellation Brands from $202.00 to $195.00 and set an "equal weight" rating for the company in a research note on Friday, April 11th. JPMorgan Chase & Co. decreased their price objective on Constellation Brands from $203.00 to $194.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Finally, Piper Sandler cut Constellation Brands from an "overweight" rating to a "neutral" rating and decreased their price objective for the company from $245.00 to $200.00 in a research note on Monday, February 3rd. Ten investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $225.74.

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.