Rockefeller Capital Management L.P. Sells 11,545 Shares of Constellation Brands Inc $STZ

Key Points

• Rockefeller Capital Management cut its Constellation Brands stake by 30.5% in the fourth quarter, selling 11,545 shares and ending with 26,264 shares valued at about $3.62 million.
• Analyst sentiment remains generally constructive: UBS lowered its price target to $175, while TD Cowen and Needham reiterated buy ratings with targets of $174 and $185, respectively. The overall consensus rating is Moderate Buy with a $173 target price.
• Constellation Brands reported earnings that beat expectations, paying $1.90 per share versus the $1.71 consensus, and it also raised its quarterly dividend to $1.03 per share, implying a 2.8% yield.

Rockefeller Capital Management L.P. lessened its position in Constellation Brands Inc (NYSE:STZ - Free Report) by 30.5% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 26,264 shares of the company's stock after selling 11,545 shares during the period. Rockefeller Capital Management L.P.'s holdings in Constellation Brands were worth $3,623,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. MV Capital Management Inc. bought a new position in shares of Constellation Brands in the 4th quarter worth $26,000. Stance Capital LLC bought a new stake in Constellation Brands during the 3rd quarter valued at $26,000. Strive Financial Group LLC acquired a new position in Constellation Brands during the fourth quarter worth $27,000. GoalVest Advisory LLC acquired a new position in Constellation Brands during the fourth quarter worth $28,000. Finally, Elyxium Wealth LLC bought a new position in shares of Constellation Brands in the fourth quarter valued at $33,000. Institutional investors own 77.34% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on STZ. UBS Group decreased their target price on shares of Constellation Brands from $186.00 to $175.00 and set a "buy" rating for the company in a research report on Wednesday, June 17th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Constellation Brands in a research report on Monday, May 4th. Evercore set a $175.00 price target on Constellation Brands and gave the company an "outperform" rating in a research note on Friday, April 10th. JPMorgan Chase & Co. boosted their price objective on Constellation Brands from $168.00 to $169.00 and gave the stock a "neutral" rating in a report on Thursday. Finally, Morgan Stanley raised their target price on Constellation Brands from $160.00 to $183.00 and gave the company an "equal weight" rating in a report on Friday, April 10th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $173.00.

Constellation Brands News Summary

Here are the key news stories impacting Constellation Brands this week:

• Positive Sentiment: RBC said Constellation Brands is likely to post in-line quarterly results and reiterated its outlook, which suggests the company may be on track heading into earnings. Constellation Brands Likely to Report In-Line Quarterly Results, Reiterate Outlook, RBC Says
• Positive Sentiment: TD Cowen reaffirmed its buy rating and set a $174 price target, implying meaningful upside from recent trading levels. Benzinga analyst update
• Positive Sentiment: Needham also reaffirmed a buy rating and raised its price target to $185, signaling continued confidence in the company’s long-term earnings potential. Benzinga analyst update

Constellation Brands Trading Up 1.3%

NYSE:STZ opened at $146.37 on Friday. Constellation Brands Inc has a 52 week low of $126.45 and a 52 week high of $178.13. The firm has a 50-day moving average price of $146.88 and a two-hundred day moving average price of $150.29. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.55 and a current ratio of 1.08. The firm has a market cap of $25.20 billion, a price-to-earnings ratio of 15.26, a price-to-earnings-growth ratio of 4.29 and a beta of 0.39.

Constellation Brands (NYSE:STZ - Get Free Report) last announced its earnings results on Wednesday, April 8th. The company reported $1.90 earnings per share for the quarter, topping analysts' consensus estimates of $1.71 by $0.19. The firm had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.84 billion. Constellation Brands had a return on equity of 26.18% and a net margin of 17.29%.The company's revenue was down 11.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.63 EPS. On average, equities analysts expect that Constellation Brands Inc will post 11.77 earnings per share for the current fiscal year.

Constellation Brands Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Wednesday, April 29th were paid a $1.03 dividend. This is a boost from Constellation Brands's previous quarterly dividend of $1.02. The ex-dividend date was Wednesday, April 29th. This represents a $4.12 dividend on an annualized basis and a yield of 2.8%. Constellation Brands's dividend payout ratio is currently 42.96%.

Insider Transactions at Constellation Brands

In other news, EVP James O. Bourdeau sold 4,407 shares of the firm's stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $143.24, for a total transaction of $631,258.68. Following the completion of the sale, the executive vice president directly owned 9,109 shares of the company's stock, valued at $1,304,773.16. This trade represents a 32.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 12.20% of the stock is owned by company insiders.

About Constellation Brands

Constellation Brands, Inc is a leading producer and marketer of beer, wine and spirits, with operations spanning production, importation, marketing and distribution. The company's beverage portfolio includes a range of premium and mainstream wines and spirits alongside major imported beer brands; in the U.S. market Constellation is widely known for its role in bringing Mexican imports such as Corona and Modelo to American consumers. Constellation supplies retail, on‑premise and foodservice channels and supports its brands with national sales and marketing platforms and supply‑chain capabilities.

The company traces its roots to the Canandaigua Wine Company, founded by Marvin Sands in 1945, and evolved through organic growth and acquisition into a diversified beverage company.

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