Bryn Mawr Capital Management LLC Reduces Position in Constellation Brands Inc (NYSE:STZ)

Bryn Mawr Capital Management LLC trimmed its position in shares of Constellation Brands Inc (NYSE:STZ - Free Report) by 34.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,821 shares of the company's stock after selling 13,780 shares during the period. Bryn Mawr Capital Management LLC's holdings in Constellation Brands were worth $4,739,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Constellation Brands by 13.3% during the fourth quarter. Vanguard Group Inc. now owns 15,534,787 shares of the company's stock worth $3,433,188,000 after buying an additional 1,821,969 shares in the last quarter. Capital World Investors grew its stake in Constellation Brands by 3.4% during the fourth quarter. Capital World Investors now owns 9,755,602 shares of the company's stock worth $2,155,946,000 after buying an additional 324,690 shares in the last quarter. Berkshire Hathaway Inc acquired a new stake in Constellation Brands during the fourth quarter worth about $1,242,976,000. Geode Capital Management LLC boosted its stake in shares of Constellation Brands by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 3,204,003 shares of the company's stock valued at $705,844,000 after purchasing an additional 63,323 shares in the last quarter. Finally, Capital Research Global Investors boosted its stake in shares of Constellation Brands by 0.6% in the 4th quarter. Capital Research Global Investors now owns 2,901,975 shares of the company's stock valued at $641,336,000 after purchasing an additional 18,557 shares in the last quarter. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Constellation Brands Stock Up 1.0%

STZ stock traded up $1.73 during midday trading on Wednesday, reaching $167.72. 977,109 shares of the company's stock traded hands, compared to its average volume of 1,930,652. The company has a market cap of $29.57 billion, a price-to-earnings ratio of -70.18, a P/E/G ratio of 9.96 and a beta of 0.67. The firm's fifty day moving average price is $174.68 and its 200-day moving average price is $180.59. 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 52 week low of $159.35 and a 52 week high of $261.06.

Constellation Brands (NYSE:STZ - Get Free Report) last announced its quarterly earnings results on Tuesday, July 1st. The company reported $3.22 EPS for the quarter, missing analysts' consensus estimates of $3.45 by ($0.23). The business had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.57 billion. Constellation Brands had a negative net margin of 4.11% and a positive return on equity of 31.41%. The business's revenue for the quarter was down 5.5% compared to the same quarter last year. During the same quarter last year, the firm posted $3.57 EPS. As a group, sell-side analysts forecast that Constellation Brands Inc will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Wednesday, July 30th will be issued a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date of this dividend is Wednesday, July 30th. Constellation Brands's dividend payout ratio is -170.71%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on STZ shares. Truist Financial upgraded shares of Constellation Brands from a "hold" rating to a "buy" rating and raised their price target for the company from $190.00 to $215.00 in a research note on Wednesday, May 7th. Roth Capital reduced their price target on shares of Constellation Brands from $256.00 to $239.00 and set a "buy" rating on the stock in a research note on Tuesday, May 20th. Barclays set a $202.00 price target on shares of Constellation Brands and gave the company an "overweight" rating in a research note on Thursday, June 26th. JPMorgan Chase & Co. raised their price target on shares of Constellation Brands from $170.00 to $182.00 and gave the company a "neutral" rating in a research note on Thursday, July 3rd. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of Constellation Brands from $191.00 to $185.00 and set a "hold" rating on the stock in a research note on Thursday, June 5th. Eleven analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $213.74.

Insider Transactions at Constellation Brands

In other Constellation Brands news, EVP Samuel J. Glaetzer sold 3,150 shares of Constellation Brands stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $188.54, for a total transaction of $593,901.00. Following the transaction, the executive vice president directly owned 3,126 shares of the company's stock, valued at $589,376.04. The trade was a 50.19% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 12.45% of the stock is owned by corporate insiders.

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.