Constellation Brands, Inc. (NYSE:STZ) Shares Sold by Nuveen Asset Management LLC

Nuveen Asset Management LLC trimmed its stake in shares of Constellation Brands, Inc. (NYSE:STZ - Free Report) by 2.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 336,893 shares of the company's stock after selling 9,016 shares during the quarter. Nuveen Asset Management LLC owned about 0.19% of Constellation Brands worth $74,453,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Van ECK Associates Corp lifted its holdings in shares of Constellation Brands by 1,844.7% in the fourth quarter. Van ECK Associates Corp now owns 924,274 shares of the company's stock worth $204,265,000 after acquiring an additional 876,745 shares during the last quarter. Copperleaf Capital LLC acquired a new stake in Constellation Brands during the 4th quarter worth about $343,000. Grimes & Company Inc. bought a new stake in Constellation Brands in the fourth quarter worth approximately $6,099,000. Empowered Funds LLC lifted its stake in Constellation Brands by 62.8% in the fourth quarter. Empowered Funds LLC now owns 16,575 shares of the company's stock valued at $3,663,000 after buying an additional 6,391 shares during the period. Finally, Southern Style Financial Inc. bought a new position in shares of Constellation Brands during the 4th quarter worth approximately $3,074,000. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have issued reports on STZ. Citigroup cut their price target on Constellation Brands from $200.00 to $190.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Truist Financial upgraded Constellation Brands from a "hold" rating to a "buy" rating and set a $215.00 target price on the stock in a report on Wednesday, May 7th. Barclays upped their price target on Constellation Brands from $203.00 to $207.00 and gave the stock an "overweight" rating in a report on Monday, April 14th. Piper Sandler lowered Constellation Brands from an "overweight" rating to a "neutral" rating and lowered their price target for the company from $245.00 to $200.00 in a research report on Monday, February 3rd. Finally, JPMorgan Chase & Co. dropped their price target on shares of Constellation Brands from $203.00 to $194.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Ten analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $225.74.

Constellation Brands Trading Down 1.8%

NYSE STZ traded down $3.55 during trading on Tuesday, hitting $189.36. The stock had a trading volume of 1,377,862 shares, compared to its average volume of 1,753,023. Constellation Brands, Inc. has a one year low of $160.46 and a one year high of $265.70. The stock has a market capitalization of $33.71 billion, a price-to-earnings ratio of 50.90, a P/E/G ratio of 1.52 and a beta of 1.75. The stock has a 50 day simple moving average of $184.28 and a 200 day simple moving average of $198.69. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.46 and a current ratio of 1.10.

Constellation Brands (NYSE:STZ - Get Free Report) last issued its quarterly earnings data on Wednesday, April 9th. The company reported $2.63 EPS for the quarter, topping analysts' consensus estimates of $2.28 by $0.35. The company 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%. Constellation Brands's revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.26 earnings per share. Sell-side analysts predict that Constellation Brands, Inc. will post 13.5 earnings per share for the current year.

Constellation Brands Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Tuesday, April 29th were issued a dividend of $1.02 per share. The ex-dividend date of this dividend was Tuesday, April 29th. This is a positive change from Constellation Brands's previous quarterly dividend of $1.01. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.15%. Constellation Brands's payout ratio is -800.00%.

Insider Buying and Selling at Constellation Brands

In other 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 transaction of $593,901.00. Following the sale, the executive vice president now directly owns 3,126 shares of the company's stock, valued at $589,376.04. This represents a 50.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 12.19% of the company's stock.

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.