Nuveen Asset Management LLC Sells 9,016 Shares of Constellation Brands, Inc. (NYSE:STZ)

Nuveen Asset Management LLC trimmed its holdings in Constellation Brands, Inc. (NYSE:STZ - Free Report) by 2.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 336,893 shares of the company's stock after selling 9,016 shares during the period. Nuveen Asset Management LLC owned approximately 0.19% of Constellation Brands worth $74,453,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Allworth Financial LP grew its stake in Constellation Brands by 0.8% in the 4th quarter. Allworth Financial LP now owns 7,357 shares of the company's stock valued at $1,626,000 after buying an additional 59 shares in the last quarter. BSW Wealth Partners grew its stake in Constellation Brands by 4.2% in the 4th quarter. BSW Wealth Partners now owns 1,563 shares of the company's stock valued at $345,000 after buying an additional 63 shares in the last quarter. Philip James Wealth Mangement LLC grew its stake in Constellation Brands by 8.0% in the 4th quarter. Philip James Wealth Mangement LLC now owns 923 shares of the company's stock valued at $204,000 after buying an additional 68 shares in the last quarter. Barden Capital Management Inc. grew its stake in Constellation Brands by 1.3% in the 4th quarter. Barden Capital Management Inc. now owns 5,574 shares of the company's stock valued at $1,232,000 after buying an additional 72 shares in the last quarter. Finally, Brown Brothers Harriman & Co. grew its stake in Constellation Brands by 4.5% in the 4th quarter. Brown Brothers Harriman & Co. now owns 1,988 shares of the company's stock valued at $439,000 after buying an additional 86 shares in the last quarter. 77.34% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

STZ has been the subject of a number of recent analyst reports. Barclays boosted their price target on shares of Constellation Brands from $203.00 to $207.00 and gave the company an "overweight" rating in a research report on Monday, April 14th. Truist Financial upgraded shares of Constellation Brands from a "hold" rating to a "buy" rating and set a $215.00 price target for the company in a research report on Wednesday, May 7th. Citigroup reduced their price target on shares of Constellation Brands from $200.00 to $190.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Wells Fargo & Company reduced their price target on shares of Constellation Brands from $230.00 to $210.00 and set an "overweight" rating for the company in a research report on Wednesday, April 2nd. Finally, JPMorgan Chase & Co. reduced their price target on shares of Constellation Brands from $203.00 to $194.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $225.74.

Constellation Brands Trading Down 0.0%

Constellation Brands stock traded down $0.08 during mid-day trading on Friday, hitting $184.68. The company's stock had a trading volume of 1,313,050 shares, compared to its average volume of 1,757,684. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.10 and a quick ratio of 0.46. The stock has a market cap of $32.88 billion, a price-to-earnings ratio of 49.64, a price-to-earnings-growth ratio of 1.52 and a beta of 1.75. The business has a 50 day moving average price of $184.66 and a 200-day moving average price of $197.80. Constellation Brands, Inc. has a 12 month low of $160.46 and a 12 month high of $265.70.

Constellation Brands (NYSE:STZ - Get Free Report) last posted its quarterly earnings results on Wednesday, April 9th. The company reported $2.63 earnings per share for the quarter, topping the consensus estimate of $2.28 by $0.35. The business had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.14 billion. Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. 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 firm posted $2.26 earnings per share. As a group, analysts forecast that Constellation Brands, Inc. will post 13.5 EPS for the current year.

Constellation Brands Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Tuesday, April 29th were paid a $1.02 dividend. The ex-dividend date of this dividend was Tuesday, April 29th. This is an increase from Constellation Brands's previous quarterly dividend of $1.01. This represents a $4.08 annualized dividend and a yield of 2.21%. Constellation Brands's payout ratio is currently -800.00%.

Insiders Place Their Bets

In other Constellation Brands news, EVP Samuel J. Glaetzer sold 3,150 shares of the business's 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 directly owns 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 at the SEC website. 12.19% of the stock is currently owned by insiders.

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.