U S Global Investors Inc. Trims Holdings in Constellation Brands Inc (NYSE:STZ)

U S Global Investors Inc. trimmed its position in Constellation Brands Inc (NYSE:STZ - Free Report) by 71.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,800 shares of the company's stock after selling 4,500 shares during the period. U S Global Investors Inc.'s holdings in Constellation Brands were worth $330,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Constellation Brands by 15.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 28,246 shares of the company's stock valued at $5,190,000 after purchasing an additional 3,784 shares in the last quarter. Park Place Capital Corp lifted its holdings in shares of Constellation Brands by 17.6% during the 1st quarter. Park Place Capital Corp now owns 547 shares of the company's stock worth $100,000 after acquiring an additional 82 shares during the period. DLK Investment Management LLC purchased a new position in shares of Constellation Brands during the 1st quarter worth about $5,759,000. Nvest Financial LLC lifted its holdings in shares of Constellation Brands by 9.8% during the 1st quarter. Nvest Financial LLC now owns 2,127 shares of the company's stock worth $390,000 after acquiring an additional 189 shares during the period. Finally, Creative Financial Designs Inc. ADV lifted its holdings in shares of Constellation Brands by 9.7% during the 1st quarter. Creative Financial Designs Inc. ADV now owns 890 shares of the company's stock worth $163,000 after acquiring an additional 79 shares during the period. 77.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Constellation Brands

In other news, EVP Samuel J. Glaetzer sold 3,150 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $188.54, for a total transaction of $593,901.00. Following the completion of the sale, the executive vice president now owns 3,126 shares of the company's stock, valued at approximately $589,376.04. This trade represents a 50.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 12.45% of the company's stock.

Constellation Brands Stock Up 0.0%

Shares of NYSE:STZ opened at $161.34 on Friday. The company has a quick ratio of 0.56, a current ratio of 0.92 and a debt-to-equity ratio of 1.30. Constellation Brands Inc has a 52-week low of $159.35 and a 52-week high of $264.45. The company has a 50 day moving average of $178.84 and a two-hundred day moving average of $185.96. The company has a market capitalization of $28.72 billion, a price-to-earnings ratio of -316.35, a price-to-earnings-growth ratio of 8.92 and a beta of 0.70.

Constellation Brands (NYSE:STZ - Get Free Report) last issued its quarterly earnings data on Wednesday, April 9th. The company reported $2.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.28 by $0.35. Constellation Brands had a negative net margin of 0.74% and a positive return on equity of 29.56%. The company had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.14 billion. During the same quarter last year, the company earned $2.26 earnings per share. Constellation Brands's revenue for the quarter was up 1.2% on a year-over-year basis. As a group, analysts forecast that Constellation Brands Inc will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders 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 dividend yield of 2.53%. This is an increase from Constellation Brands's previous quarterly dividend of $1.01. Constellation Brands's dividend payout ratio (DPR) is presently -800.00%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on STZ shares. Barclays set a $202.00 price objective on shares of Constellation Brands and gave the stock an "overweight" rating in a report on Thursday. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Constellation Brands from $191.00 to $185.00 and set a "hold" rating on the stock in a report on Thursday, June 5th. Truist Financial upgraded shares of Constellation Brands from a "hold" rating to a "buy" rating and increased their price objective for the stock from $190.00 to $215.00 in a report on Wednesday, May 7th. BMO Capital Markets cut their price objective on shares of Constellation Brands from $260.00 to $215.00 and set an "outperform" rating on the stock in a report on Friday, April 11th. Finally, Needham & Company LLC cut their price objective on shares of Constellation Brands from $215.00 to $195.00 and set a "buy" rating on the stock in a report on Wednesday. Eleven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $211.91.

Constellation Brands 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.

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