Truist Financial Corp Has $2.88 Million Stock Holdings in Constellation Brands Inc $STZ

Key Points

• Truist Financial cut its Constellation Brands stake by 40.4% in the fourth quarter, leaving it with 20,892 shares worth about $2.88 million.
• Institutional ownership remains heavy, with 77.34% of Constellation Brands stock held by institutional investors and hedge funds. Several large firms, including Vanguard and Ameriprise, also adjusted their positions.
• Analysts are broadly positive: the stock has a Moderate Buy consensus rating with a target price of $176.30, while the company also recently beat quarterly earnings estimates and raised its dividend to $1.03 per share.

Truist Financial Corp reduced its stake in shares of Constellation Brands Inc (NYSE:STZ - Free Report) by 40.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 20,892 shares of the company's stock after selling 14,180 shares during the period. Truist Financial Corp's holdings in Constellation Brands were worth $2,882,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Constellation Brands by 3.3% during the 3rd quarter. Vanguard Group Inc. now owns 18,202,611 shares of the company's stock worth $2,451,346,000 after acquiring an additional 573,766 shares in the last quarter. Capital International Investors grew its stake in shares of Constellation Brands by 0.7% during the 3rd quarter. Capital International Investors now owns 4,337,054 shares of the company's stock worth $584,135,000 after acquiring an additional 28,036 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC grew its stake in shares of Constellation Brands by 1.0% during the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 3,710,940 shares of the company's stock worth $499,752,000 after acquiring an additional 35,085 shares in the last quarter. Ameriprise Financial Inc. grew its stake in shares of Constellation Brands by 76.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 3,126,644 shares of the company's stock worth $421,059,000 after acquiring an additional 1,356,903 shares in the last quarter. Finally, Van ECK Associates Corp grew its stake in shares of Constellation Brands by 15.5% during the 3rd quarter. Van ECK Associates Corp now owns 2,160,202 shares of the company's stock worth $290,915,000 after acquiring an additional 290,701 shares in the last quarter. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Barclays raised their target price on shares of Constellation Brands from $151.00 to $170.00 and gave the company an "equal weight" rating in a research note on Friday, April 10th. Morgan Stanley raised their target price on shares of Constellation Brands from $160.00 to $183.00 and gave the company an "equal weight" rating in a research note on Friday, April 10th. Needham & Company LLC raised their target price on shares of Constellation Brands from $180.00 to $185.00 and gave the company a "buy" rating in a research note on Friday, April 10th. TD Cowen raised shares of Constellation Brands from a "hold" rating to a "buy" rating and raised their target price for the company from $142.00 to $190.00 in a research note on Monday, April 13th. Finally, Weiss Ratings reissued a "hold (c-)" rating on shares of Constellation Brands in a research note on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, Constellation Brands has a consensus rating of "Moderate Buy" and a consensus target price of $176.30.

Constellation Brands Stock Up 0.2%

STZ opened at $142.71 on Wednesday. Constellation Brands Inc has a fifty-two week low of $126.45 and a fifty-two week high of $196.91. 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 company has a market capitalization of $24.58 billion, a P/E ratio of 14.88, a P/E/G ratio of 3.12 and a beta of 1.75. The stock has a fifty day moving average of $153.48 and a 200-day moving average of $148.06.

Constellation Brands (NYSE:STZ - Get Free Report) last posted its quarterly earnings results on Wednesday, April 8th. The company reported $1.90 EPS for the quarter, beating analysts' consensus estimates of $1.71 by $0.19. The business had revenue of $1.92 billion during 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%.Constellation Brands's revenue for the quarter was down 11.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.63 earnings per share. On average, equities analysts expect that Constellation Brands Inc will post 11.9 EPS for the current year.

Constellation Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 14th. Stockholders of record on Wednesday, April 29th will be paid a $1.03 dividend. This is an increase from Constellation Brands's previous quarterly dividend of $1.02. This represents a $4.12 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Wednesday, April 29th. Constellation Brands's payout ratio is currently 42.96%.

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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