Federated Hermes Inc. Has $756,000 Stock Position in Constellation Brands Inc (NYSE:STZ)

Federated Hermes Inc. cut its stake in shares of Constellation Brands Inc (NYSE:STZ - Free Report) by 76.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,120 shares of the company's stock after selling 13,403 shares during the period. Federated Hermes Inc.'s holdings in Constellation Brands were worth $756,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the stock. Berkshire Hathaway Inc acquired a new stake in Constellation Brands in the fourth quarter valued at $1,242,976,000. D1 Capital Partners L.P. raised its holdings in shares of Constellation Brands by 186.6% in the 4th quarter. D1 Capital Partners L.P. now owns 1,527,689 shares of the company's stock valued at $337,619,000 after purchasing an additional 994,639 shares during the period. GAMMA Investing LLC lifted its stake in Constellation Brands by 7,602.6% in the 1st quarter. GAMMA Investing LLC now owns 396,220 shares of the company's stock valued at $72,714,000 after purchasing an additional 391,076 shares during the last quarter. Kovitz Investment Group Partners LLC increased its position in Constellation Brands by 840.9% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 378,563 shares of the company's stock worth $83,662,000 after buying an additional 338,330 shares during the last quarter. Finally, Capital World Investors increased its position 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 during the last quarter. 77.34% of the stock is currently owned by institutional investors.

Constellation Brands Trading Up 2.3%

Shares of STZ opened at $173.09 on Friday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.68 and a current ratio of 1.07. Constellation Brands Inc has a 52-week low of $159.35 and a 52-week high of $261.06. The firm has a market cap of $30.51 billion, a price-to-earnings ratio of -72.42, a PEG ratio of 10.24 and a beta of 1.75. The business's fifty day moving average is $169.28 and its 200-day moving average is $176.93.

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

Constellation Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Wednesday, July 30th will be issued a dividend of $1.02 per share. The ex-dividend date is Wednesday, July 30th. This represents a $4.08 annualized dividend and a dividend yield of 2.4%. Constellation Brands's dividend payout ratio is -170.71%.

Insider Buying and Selling at Constellation Brands

In other Constellation Brands news, EVP Samuel J. Glaetzer sold 3,150 shares of the stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $188.54, for a total value of $593,901.00. Following the completion of the transaction, the executive vice president directly owned 3,126 shares in the company, valued at approximately $589,376.04. This trade represents a 50.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP James O. Bourdeau sold 821 shares of Constellation Brands stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $169.00, for a total value of $138,749.00. Following the sale, the executive vice president directly owned 9,438 shares in the company, valued at $1,595,022. The trade was a 8.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. 12.45% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on STZ shares. Jefferies Financial Group upgraded Constellation Brands from a "hold" rating to a "buy" rating and lifted their target price for the stock from $194.00 to $205.00 in a research note on Monday, July 7th. UBS Group upped their price objective on shares of Constellation Brands from $195.00 to $205.00 and gave the company a "buy" rating in a report on Thursday, July 3rd. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Constellation Brands from $191.00 to $185.00 and set a "hold" rating on the stock in a research report on Thursday, June 5th. Royal Bank Of Canada reduced their target price on shares of Constellation Brands from $289.00 to $233.00 and set an "outperform" rating for the company in a report on Monday, April 14th. Finally, JPMorgan Chase & Co. increased their price target on shares of Constellation Brands from $170.00 to $182.00 and gave the company a "neutral" rating in a 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, Constellation Brands currently has an average rating of "Moderate Buy" and an average target price of $213.74.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.