Beacon Pointe Advisors LLC Sells 1,508 Shares of Constellation Brands, Inc. (NYSE:STZ)

Beacon Pointe Advisors LLC cut its stake in shares of Constellation Brands, Inc. (NYSE:STZ - Free Report) by 10.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 12,434 shares of the company's stock after selling 1,508 shares during the period. Beacon Pointe Advisors LLC's holdings in Constellation Brands were worth $2,748,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Quarry LP purchased a new position in shares of Constellation Brands in the fourth quarter worth approximately $77,000. Shorepoint Capital Partners LLC boosted its stake in shares of Constellation Brands by 7.1% during the 4th quarter. Shorepoint Capital Partners LLC now owns 13,522 shares of the company's stock worth $2,988,000 after acquiring an additional 902 shares during the last quarter. Oxford Asset Management LLP bought a new stake in shares of Constellation Brands during the 4th quarter valued at $694,000. Boothbay Fund Management LLC purchased a new stake in shares of Constellation Brands in the 4th quarter worth $216,000. Finally, Coldstream Capital Management Inc. raised its holdings in Constellation Brands by 1.5% in the 4th quarter. Coldstream Capital Management Inc. now owns 20,142 shares of the company's stock worth $4,451,000 after purchasing an additional 296 shares during the period. 77.34% of the stock is owned by institutional investors.

Constellation Brands Price Performance

Shares of STZ traded up $1.61 during mid-day trading on Friday, hitting $187.05. 1,146,224 shares of the stock were exchanged, compared to its average volume of 1,720,312. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.46 and a current ratio of 1.10. The company has a market cap of $33.81 billion, a PE ratio of 50.28, a price-to-earnings-growth ratio of 1.52 and a beta of 1.75. Constellation Brands, Inc. has a 52-week low of $160.46 and a 52-week high of $265.70. The firm has a 50-day moving average of $181.96 and a two-hundred day moving average of $202.65.

Constellation Brands (NYSE:STZ - Get Free Report) last released its quarterly earnings results on Wednesday, April 9th. The company reported $2.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $2.14 billion. During the same quarter in the prior year, the firm earned $2.26 earnings per share. Constellation Brands's revenue was up 1.2% on a year-over-year basis. On average, equities analysts predict that Constellation Brands, Inc. will post 13.5 earnings per share for the current year.

Constellation Brands Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 29th will be given a $1.02 dividend. The ex-dividend date of this dividend is Tuesday, April 29th. This represents a $4.08 annualized dividend and a yield of 2.18%. This is a positive change from Constellation Brands's previous quarterly dividend of $1.01. Constellation Brands's dividend payout ratio (DPR) is currently -800.00%.

Analysts Set New Price Targets

STZ has been the subject of a number of analyst reports. Morgan Stanley reduced their price target on Constellation Brands from $202.00 to $195.00 and set an "equal weight" rating for the company in a research report on Friday, April 11th. Truist Financial reduced their target price on shares of Constellation Brands from $255.00 to $190.00 and set a "hold" rating for the company in a report on Tuesday, January 14th. TD Cowen lowered their price target on shares of Constellation Brands from $270.00 to $260.00 and set a "hold" rating on the stock in a report on Wednesday, January 8th. Evercore ISI reduced their price objective on shares of Constellation Brands from $300.00 to $250.00 and set an "outperform" rating for the company in a research note on Monday, January 13th. Finally, BMO Capital Markets lowered their target price on shares of Constellation Brands from $260.00 to $215.00 and set an "outperform" rating on the stock in a research note on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Constellation Brands presently has an average 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.