Park Avenue Securities LLC Sells 1,672 Shares of Constellation Brands, Inc. (NYSE:STZ)

Park Avenue Securities LLC reduced its position in shares of Constellation Brands, Inc. (NYSE:STZ - Free Report) by 29.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,918 shares of the company's stock after selling 1,672 shares during the period. Park Avenue Securities LLC's holdings in Constellation Brands were worth $719,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Allworth Financial LP boosted its holdings in Constellation Brands by 0.8% in the fourth quarter. Allworth Financial LP now owns 7,357 shares of the company's stock valued at $1,626,000 after acquiring an additional 59 shares during the last quarter. Piscataqua Savings Bank boosted its holdings in Constellation Brands by 1.7% in the first quarter. Piscataqua Savings Bank now owns 3,720 shares of the company's stock valued at $683,000 after acquiring an additional 62 shares during the last quarter. Moody National Bank Trust Division boosted its holdings in Constellation Brands by 0.9% in the first quarter. Moody National Bank Trust Division now owns 6,991 shares of the company's stock valued at $1,283,000 after acquiring an additional 64 shares during the last quarter. Philip James Wealth Mangement LLC boosted its holdings in Constellation Brands by 8.0% in the fourth quarter. Philip James Wealth Mangement LLC now owns 923 shares of the company's stock valued at $204,000 after acquiring an additional 68 shares during the last quarter. Finally, Barden Capital Management Inc. boosted its holdings in Constellation Brands by 1.3% in the fourth quarter. Barden Capital Management Inc. now owns 5,574 shares of the company's stock valued at $1,232,000 after acquiring an additional 72 shares during the last quarter. 77.34% of the stock is currently owned by institutional investors.

Insider Transactions at Constellation Brands

In other news, EVP Samuel J. Glaetzer sold 3,150 shares of the stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $188.54, for a total transaction of $593,901.00. Following the completion of the transaction, the executive vice president now owns 3,126 shares in the company, valued at approximately $589,376.04. This represents a 50.19% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 12.19% of the stock is owned by corporate insiders.

Constellation Brands Stock Performance

Shares of Constellation Brands stock traded down $5.12 during trading hours on Friday, hitting $164.69. 1,942,365 shares of the company's stock traded hands, compared to its average volume of 1,811,310. Constellation Brands, Inc. has a 12-month low of $160.46 and a 12-month high of $265.70. The stock has a market capitalization of $29.32 billion, a price-to-earnings ratio of 44.27, a PEG ratio of 1.52 and a beta of 1.75. The company has a fifty day simple moving average of $183.21 and a 200-day simple moving average of $191.30. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.10 and a quick ratio of 0.46.

Constellation Brands (NYSE:STZ - Get Free Report) last announced its earnings results on Wednesday, April 9th. The company reported $2.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.28 by $0.35. The firm had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.14 billion. Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The business's revenue was up 1.2% compared to the same quarter last year. During the same period last year, the firm posted $2.26 EPS. Equities research analysts anticipate that Constellation Brands, Inc. will post 13.5 EPS for the current fiscal year.

Constellation Brands Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Tuesday, April 29th were paid a dividend of $1.02 per share. This is an increase from Constellation Brands's previous quarterly dividend of $1.01. The ex-dividend date of this dividend was Tuesday, April 29th. This represents a $4.08 annualized dividend and a dividend yield of 2.48%. Constellation Brands's dividend payout ratio is presently -800.00%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on STZ shares. Morgan Stanley dropped their price target on Constellation Brands from $202.00 to $195.00 and set an "equal weight" rating on the stock in a research note on Friday, April 11th. The Goldman Sachs Group dropped their price target on Constellation Brands from $260.00 to $225.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. Truist Financial raised Constellation Brands from a "hold" rating to a "buy" rating and boosted their price target for the company from $190.00 to $215.00 in a research note on Wednesday, May 7th. Needham & Company LLC reissued a "buy" rating and issued a $215.00 price target on shares of Constellation Brands in a research note on Thursday, April 10th. Finally, Piper Sandler boosted their price target on Constellation Brands from $165.00 to $170.00 and gave the company a "neutral" rating in a research note on Friday, June 6th. Eleven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, Constellation Brands has a consensus rating of "Moderate Buy" and an average price target of $220.00.

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.