Atlantic Union Bankshares Corp Reduces Holdings in Constellation Brands Inc (NYSE:STZ)

Atlantic Union Bankshares Corp cut its holdings in Constellation Brands Inc (NYSE:STZ - Free Report) by 59.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 3,556 shares of the company's stock after selling 5,122 shares during the period. Atlantic Union Bankshares Corp's holdings in Constellation Brands were worth $653,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of STZ. Berkshire Hathaway Inc acquired a new stake in shares of Constellation Brands during the fourth quarter valued at approximately $1,242,976,000. Norges Bank acquired a new position in shares of Constellation Brands in the 4th quarter valued at $445,883,000. Vanguard Group Inc. raised its stake in shares of Constellation Brands by 13.3% in the 4th quarter. Vanguard Group Inc. now owns 15,534,787 shares of the company's stock valued at $3,433,188,000 after buying an additional 1,821,969 shares in the last quarter. D1 Capital Partners L.P. increased its position in shares of Constellation Brands by 186.6% during the 4th quarter. D1 Capital Partners L.P. now owns 1,527,689 shares of the company's stock worth $337,619,000 after purchasing an additional 994,639 shares in the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC boosted its stake in Constellation Brands by 42.9% during the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 2,454,258 shares of the company's stock worth $542,391,000 after acquiring an additional 736,780 shares during the last quarter. 77.34% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on STZ shares. Piper Sandler increased their price objective on shares of Constellation Brands from $165.00 to $170.00 and gave the company a "neutral" rating in a research report on Friday, June 6th. Bernstein Bank cut their price target on shares of Constellation Brands from $260.00 to $225.00 and set an "outperform" rating on the stock in a report on Thursday, April 10th. Wells Fargo & Company cut their target price on shares of Constellation Brands from $210.00 to $196.00 and set an "overweight" rating on the stock in a report on Wednesday, June 25th. Royal Bank Of Canada lowered their price target on Constellation Brands from $289.00 to $233.00 and set an "outperform" rating on the stock in a report on Monday, April 14th. Finally, UBS Group upped their price objective on Constellation Brands from $195.00 to $205.00 and gave the company a "buy" rating in a research report on Thursday, July 3rd. Eleven equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $213.74.

Constellation Brands Stock Down 0.5%

STZ stock opened at $170.72 on Monday. The business's 50-day simple moving average is $173.47 and its 200 day simple moving average is $179.24. The company has a quick ratio of 0.68, a current ratio of 1.07 and a debt-to-equity ratio of 1.30. Constellation Brands Inc has a twelve month low of $159.35 and a twelve month high of $261.06. The company has a market cap of $30.10 billion, a PE ratio of -71.43, a price-to-earnings-growth ratio of 10.32 and a beta of 0.67.

Constellation Brands (NYSE:STZ - Get Free Report) last issued its quarterly earnings results on Tuesday, July 1st. The company reported $3.22 earnings per share for the quarter, missing analysts' consensus estimates of $3.45 by ($0.23). Constellation Brands had a negative net margin of 4.11% and a positive return on equity of 31.41%. The company had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.57 billion. During the same period in the prior year, the business earned $3.57 EPS. The business's revenue for the quarter was down 5.5% on a year-over-year basis. On average, research analysts anticipate that Constellation Brands Inc will post 13.5 earnings per share for the current year.

Constellation Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Wednesday, July 30th will be issued a $1.02 dividend. The ex-dividend date is Wednesday, July 30th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.39%. Constellation Brands's payout ratio is -170.71%.

Insider Activity

In other news, EVP Samuel J. Glaetzer sold 3,150 shares of the company's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $188.54, for a total value of $593,901.00. Following the sale, the executive vice president directly owned 3,126 shares of the company's stock, valued at approximately $589,376.04. This represents a 50.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 12.45% of the company's stock.

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.

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