UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 108,337 Shares of Constellation Brands, Inc. (NYSE:STZ)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its position in Constellation Brands, Inc. (NYSE:STZ - Free Report) by 9.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,000,772 shares of the company's stock after selling 108,337 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.55% of Constellation Brands worth $221,171,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Constellation Brands by 13.3% during the fourth quarter. Vanguard Group Inc. now owns 15,534,787 shares of the company's stock valued at $3,433,188,000 after buying an additional 1,821,969 shares during the period. Capital World Investors grew its holdings in shares of Constellation Brands by 3.4% during the fourth quarter. Capital World Investors now owns 9,755,602 shares of the company's stock worth $2,155,946,000 after purchasing an additional 324,690 shares in the last quarter. Berkshire Hathaway Inc purchased a new position in shares of Constellation Brands during the fourth quarter worth about $1,242,976,000. Geode Capital Management LLC grew its holdings in shares of Constellation Brands by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 3,204,003 shares of the company's stock worth $705,844,000 after purchasing an additional 63,323 shares in the last quarter. Finally, Capital Research Global Investors grew its holdings in shares of Constellation Brands by 0.6% during the fourth quarter. Capital Research Global Investors now owns 2,901,975 shares of the company's stock worth $641,336,000 after purchasing an additional 18,557 shares in the last quarter. 77.34% of the stock is currently owned by institutional investors.

Constellation Brands Trading Down 2.3%

Shares of NYSE:STZ traded down $4.19 during trading on Wednesday, reaching $181.72. 524,245 shares of the company traded hands, compared to its average volume of 1,752,539. The firm has a market capitalization of $32.35 billion, a price-to-earnings ratio of 48.89, a P/E/G ratio of 1.52 and a beta of 1.75. Constellation Brands, Inc. has a 52-week low of $160.46 and a 52-week high of $265.70. The company has a current ratio of 1.10, a quick ratio of 0.46 and a debt-to-equity ratio of 1.26. The business's fifty day moving average is $184.91 and its 200-day moving average is $196.90.

Constellation Brands (NYSE:STZ - Get Free Report) last announced its earnings results on Wednesday, April 9th. The company reported $2.63 EPS for the quarter, beating 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 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 quarter in the prior year, the company earned $2.26 earnings per share. As a group, analysts forecast that Constellation Brands, Inc. will post 13.5 EPS for the current year.

Constellation Brands Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Tuesday, April 29th were issued a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date was Tuesday, April 29th. This is an increase from Constellation Brands's previous quarterly dividend of $1.01. Constellation Brands's dividend payout ratio is currently -800.00%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on STZ shares. Barclays boosted their price objective on Constellation Brands from $203.00 to $207.00 and gave the stock an "overweight" rating in a report on Monday, April 14th. Royal Bank of Canada cut their price objective on Constellation Brands from $289.00 to $233.00 and set an "outperform" rating for the company in a report on Monday, April 14th. Wells Fargo & Company cut their price objective on Constellation Brands from $230.00 to $210.00 and set an "overweight" rating for the company in a report on Wednesday, April 2nd. Citigroup cut their price objective on Constellation Brands from $200.00 to $190.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Finally, Truist Financial raised Constellation Brands from a "hold" rating to a "buy" rating and set a $215.00 target price for the company in a research note on Wednesday, May 7th. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat, Constellation Brands has an average rating of "Moderate Buy" and an average target price of $225.74.

Insider Activity at Constellation Brands

In other Constellation Brands news, EVP Samuel J. Glaetzer sold 3,150 shares of the stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $188.54, for a total value of $593,901.00. Following the completion of the transaction, the executive vice president now owns 3,126 shares in the company, valued at approximately $589,376.04. This represents a 50.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 12.19% of the stock is owned by corporate insiders.

About Constellation Brands

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.