Constellation Brands Inc (NYSE:STZ) Shares Sold by Hohimer Wealth Management LLC

Hohimer Wealth Management LLC reduced its position in Constellation Brands Inc (NYSE:STZ - Free Report) by 66.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,471 shares of the company's stock after selling 8,875 shares during the period. Hohimer Wealth Management LLC's holdings in Constellation Brands were worth $821,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. boosted its position in shares of Constellation Brands by 36.4% during the 1st quarter. Harbor Capital Advisors Inc. now owns 3,051 shares of the company's stock valued at $560,000 after acquiring an additional 815 shares during the last quarter. Golden State Wealth Management LLC raised its stake in Constellation Brands by 137.0% during the first quarter. Golden State Wealth Management LLC now owns 2,204 shares of the company's stock valued at $405,000 after purchasing an additional 1,274 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its position in Constellation Brands by 28.9% during the first quarter. Oppenheimer Asset Management Inc. now owns 7,360 shares of the company's stock valued at $1,351,000 after purchasing an additional 1,651 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Constellation Brands by 7.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 17,206 shares of the company's stock worth $3,180,000 after buying an additional 1,185 shares in the last quarter. Finally, Johnson Investment Counsel Inc. grew its stake in shares of Constellation Brands by 8.1% in the 1st quarter. Johnson Investment Counsel Inc. now owns 2,495 shares of the company's stock worth $458,000 after buying an additional 187 shares in the last quarter. 77.34% of the stock is owned by institutional investors.

Constellation Brands Stock Down 4.5%

NYSE:STZ traded down $7.73 during mid-day trading on Monday, hitting $164.47. 3,671,576 shares of the company's stock traded hands, compared to its average volume of 2,536,695. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.68 and a current ratio of 1.07. The company has a market capitalization of $29.28 billion, a P/E ratio of -68.81, a P/E/G ratio of 10.42 and a beta of 1.75. The company has a fifty day moving average of $175.56 and a 200 day moving average of $181.10. Constellation Brands Inc has a twelve month low of $159.35 and a twelve month high of $261.06.

Constellation Brands (NYSE:STZ - Get Free Report) last announced its quarterly earnings data on Tuesday, July 1st. The company reported $3.22 EPS for the quarter, missing the consensus estimate of $3.45 by ($0.23). The company had revenue of $2.52 billion during the quarter, compared to analysts' expectations 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 period in the previous year, the business earned $3.57 earnings per share. On average, analysts forecast that Constellation Brands Inc will post 13.5 EPS for the current year.

Constellation Brands Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Wednesday, July 30th will be given a dividend of $1.02 per share. The ex-dividend date of this dividend is Wednesday, July 30th. This represents a $4.08 dividend on an annualized basis and a yield of 2.48%. Constellation Brands's dividend payout ratio is currently -170.71%.

Insiders Place Their Bets

In related news, EVP Samuel J. Glaetzer sold 3,150 shares of Constellation Brands stock in a transaction dated 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 sale, the executive vice president owned 3,126 shares of the company's stock, valued at $589,376.04. The trade was a 50.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 12.45% of the company's stock.

Analysts Set New Price Targets

STZ has been the subject of a number of analyst reports. Truist Financial raised shares of Constellation Brands from a "hold" rating to a "buy" rating and increased their price target for the company from $190.00 to $215.00 in a report on Wednesday, May 7th. Cowen restated a "hold" rating on shares of Constellation Brands in a research report on Monday, July 7th. Raymond James Financial upgraded Constellation Brands to a "strong-buy" rating in a report on Monday, July 7th. Wells Fargo & Company cut their target price on Constellation Brands from $210.00 to $196.00 and set an "overweight" rating on the stock in a research report on Wednesday, June 25th. Finally, Jefferies Financial Group upgraded Constellation Brands from a "hold" rating to a "buy" rating and raised their price target for the stock from $194.00 to $205.00 in a research report on Monday, July 7th. Eleven equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Constellation Brands currently has a consensus rating of "Moderate Buy" and a consensus 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.