CNB Bank Reduces Holdings in Constellation Brands Inc (NYSE:STZ)

CNB Bank reduced its holdings in shares of Constellation Brands Inc (NYSE:STZ - Free Report) by 70.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 747 shares of the company's stock after selling 1,802 shares during the quarter. CNB Bank's holdings in Constellation Brands were worth $137,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of STZ. Berkshire Hathaway Inc purchased a new stake in shares of Constellation Brands during the fourth quarter worth about $1,242,976,000. Norges Bank purchased a new stake in shares of Constellation Brands during the fourth quarter worth about $445,883,000. Vanguard Group Inc. grew its holdings in shares of 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. D1 Capital Partners L.P. grew its holdings in shares of Constellation Brands by 186.6% during the fourth quarter. D1 Capital Partners L.P. now owns 1,527,689 shares of the company's stock worth $337,619,000 after buying an additional 994,639 shares in the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC boosted its position in shares of Constellation Brands by 42.9% in the fourth 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 hedge funds and other institutional investors.

Constellation Brands Trading Up 0.0%

NYSE STZ opened at $161.34 on Friday. The company's fifty day simple moving average is $178.84 and its 200-day simple moving average is $185.96. Constellation Brands Inc has a 52 week low of $159.35 and a 52 week high of $264.45. The company has a current ratio of 0.92, a quick ratio of 0.56 and a debt-to-equity ratio of 1.30. The stock has a market cap of $28.72 billion, a P/E ratio of -316.35, a PEG ratio of 8.92 and a beta of 0.70.

Constellation Brands (NYSE:STZ - Get Free Report) last posted its earnings results on Wednesday, April 9th. The company reported $2.63 EPS for the quarter, topping analysts' consensus estimates of $2.28 by $0.35. Constellation Brands had a negative net margin of 0.74% and a positive return on equity of 29.56%. The business had revenue of $2.13 billion for the quarter, compared to analysts' expectations of $2.14 billion. During the same period in the previous year, the company posted $2.26 earnings per share. The business's revenue for the quarter was up 1.2% compared to the same quarter last year. Equities research analysts predict that Constellation Brands Inc will post 13.5 EPS for the current fiscal year.

Constellation Brands Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Tuesday, April 29th were given a dividend of $1.02 per share. This is a boost from Constellation Brands's previous quarterly dividend of $1.01. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date of this dividend was Tuesday, April 29th. Constellation Brands's payout ratio is presently -800.00%.

Analyst Ratings Changes

Several research firms recently issued reports on STZ. Barclays set a $202.00 target price on shares of Constellation Brands and gave the stock an "overweight" rating in a research report on Thursday. Roth Capital decreased their target price on shares of Constellation Brands from $256.00 to $239.00 and set a "buy" rating on the stock in a research report on Tuesday, May 20th. Citigroup decreased their target price on shares of Constellation Brands from $190.00 to $170.00 and set a "neutral" rating on the stock in a research report on Wednesday, June 18th. Truist Financial raised shares of Constellation Brands from a "hold" rating to a "buy" rating and raised their target price for the stock from $190.00 to $215.00 in a research report on Wednesday, May 7th. Finally, Wells Fargo & Company decreased their target price on shares of Constellation Brands from $210.00 to $196.00 and set an "overweight" rating on the stock in a research report on Wednesday. Eleven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $211.91.

Insider Transactions at Constellation Brands

In related 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 value of $593,901.00. Following the completion of the sale, the executive vice president now owns 3,126 shares in the company, valued at approximately $589,376.04. The trade was a 50.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 12.45% of the company's stock.

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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