Lazard Asset Management LLC Lowers Stock Holdings in Constellation Brands, Inc. (NYSE:STZ)

Lazard Asset Management LLC reduced its stake in Constellation Brands, Inc. (NYSE:STZ - Free Report) by 92.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,526 shares of the company's stock after selling 19,549 shares during the quarter. Lazard Asset Management LLC's holdings in Constellation Brands were worth $336,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of STZ. Mainstream Capital Management LLC purchased a new position in shares of Constellation Brands in the fourth quarter worth $25,000. SBI Securities Co. Ltd. acquired a new position in shares of Constellation Brands in the 4th quarter valued at $26,000. Compagnie Lombard Odier SCmA purchased a new position in Constellation Brands in the 4th quarter worth $27,000. Union Bancaire Privee UBP SA purchased a new stake in Constellation Brands during the 4th quarter valued at about $28,000. Finally, Optiver Holding B.V. acquired a new position in shares of Constellation Brands in the fourth quarter valued at about $31,000. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Barclays lifted their target price on Constellation Brands from $203.00 to $207.00 and gave the stock an "overweight" rating in a report on Monday, April 14th. Morgan Stanley reduced their target price on shares of Constellation Brands from $202.00 to $195.00 and set an "equal weight" rating for the company in a report on Friday, April 11th. Truist Financial upgraded shares of Constellation Brands from a "hold" rating to a "buy" rating and set a $215.00 target price for the company in a research report on Wednesday, May 7th. BMO Capital Markets lowered their price target on shares of Constellation Brands from $260.00 to $215.00 and set an "outperform" rating on the stock in a report on Friday, April 11th. Finally, Wells Fargo & Company reduced their price objective on Constellation Brands from $230.00 to $210.00 and set an "overweight" rating for the company in a research note on Wednesday, April 2nd. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $225.74.

Constellation Brands Price Performance

NYSE:STZ traded down $2.98 during trading hours on Wednesday, hitting $182.93. 215,108 shares of the stock were exchanged, compared to its average volume of 1,750,902. The firm's fifty day moving average price is $184.91 and its 200 day moving average price is $196.90. Constellation Brands, Inc. has a 52-week low of $160.46 and a 52-week high of $265.70. The company has a market cap of $32.57 billion, a P/E ratio of 49.16, a P/E/G ratio of 1.52 and a beta of 1.75. The company has a current ratio of 1.10, a quick ratio of 0.46 and a debt-to-equity ratio of 1.26.

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

Constellation Brands Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Tuesday, April 29th were paid a $1.02 dividend. This is an increase from Constellation Brands's previous quarterly dividend of $1.01. This represents a $4.08 annualized dividend and a dividend yield of 2.23%. The ex-dividend date of this dividend was Tuesday, April 29th. Constellation Brands's dividend payout ratio (DPR) is currently -800.00%.

Insider Buying and Selling

In other Constellation Brands news, EVP Samuel J. Glaetzer sold 3,150 shares of the stock in a transaction dated 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. This represents a 50.19% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 12.19% of the stock is currently owned by company insiders.

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.