Parallel Advisors LLC Sells 5,438 Shares of Constellation Brands, Inc. (NYSE:STZ)

Parallel Advisors LLC cut its holdings in Constellation Brands, Inc. (NYSE:STZ - Free Report) by 32.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,484 shares of the company's stock after selling 5,438 shares during the quarter. Parallel Advisors LLC's holdings in Constellation Brands were worth $2,107,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Allworth Financial LP grew its holdings in shares of Constellation Brands by 0.8% in the 4th quarter. Allworth Financial LP now owns 7,357 shares of the company's stock worth $1,626,000 after acquiring an additional 59 shares during the last quarter. Moody National Bank Trust Division boosted its position in shares of Constellation Brands by 0.9% in the 1st quarter. Moody National Bank Trust Division now owns 6,991 shares of the company's stock valued at $1,283,000 after purchasing an additional 64 shares during the period. Philip James Wealth Mangement LLC increased 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 worth $204,000 after purchasing an additional 68 shares in the last quarter. Barden Capital Management Inc. raised its holdings in Constellation Brands by 1.3% during the 4th quarter. Barden Capital Management Inc. now owns 5,574 shares of the company's stock worth $1,232,000 after buying an additional 72 shares during the period. Finally, Vista Investment Management lifted its stake in Constellation Brands by 0.7% during the fourth quarter. Vista Investment Management now owns 11,479 shares of the company's stock valued at $2,537,000 after buying an additional 84 shares in the last quarter. 77.34% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Constellation Brands

In other news, EVP Samuel J. Glaetzer sold 3,150 shares of the business's 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 transaction, the executive vice president now owns 3,126 shares in the company, valued at approximately $589,376.04. The trade was a 50.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 12.19% of the company's stock.

Analyst Upgrades and Downgrades

STZ has been the topic of several analyst reports. JPMorgan Chase & Co. dropped their target price 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. Truist Financial raised shares of Constellation Brands from a "hold" rating to a "buy" rating and set a $215.00 target price on the stock in a research note on Wednesday, May 7th. Piper Sandler cut Constellation Brands from an "overweight" rating to a "neutral" rating and decreased their target price for the stock from $245.00 to $200.00 in a research report on Monday, February 3rd. Wall Street Zen raised Constellation Brands from a "sell" rating to a "hold" rating in a research note on Tuesday, May 20th. Finally, Roth Mkm reduced their price target on shares of Constellation Brands from $284.00 to $256.00 and set a "buy" rating for the company in a research report on Thursday, April 3rd. Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, Constellation Brands presently has a consensus rating of "Moderate Buy" and an average target price of $225.74.

Constellation Brands Stock Performance

Shares of NYSE STZ traded up $2.68 during trading hours on Tuesday, hitting $176.85. 1,945,620 shares of the stock were exchanged, compared to its average volume of 1,778,078. Constellation Brands, Inc. has a one year low of $160.46 and a one year high of $265.70. The company's 50 day moving average is $184.71 and its 200 day moving average is $194.89. 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 firm has a market capitalization of $31.48 billion, a P/E ratio of 47.54, a P/E/G ratio of 1.52 and a beta of 1.75.

Constellation Brands (NYSE:STZ - Get Free Report) last posted 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 business had revenue of $2.13 billion for the quarter, compared to analyst estimates 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 company posted $2.26 earnings per share. On average, research analysts expect that Constellation Brands, Inc. will post 13.5 EPS for the current year.

Constellation Brands Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Tuesday, April 29th were given a dividend of $1.02 per share. The ex-dividend date was Tuesday, April 29th. This represents a $4.08 dividend on an annualized basis and a yield of 2.31%. This is a positive change from Constellation Brands's previous quarterly dividend of $1.01. Constellation Brands's payout ratio is -800.00%.

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.