Constellation Brands, Inc. (NYSE:STZ) Shares Sold by Kayne Anderson Rudnick Investment Management LLC

Kayne Anderson Rudnick Investment Management LLC trimmed its stake in Constellation Brands, Inc. (NYSE:STZ - Free Report) by 17.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,341 shares of the company's stock after selling 3,075 shares during the period. Kayne Anderson Rudnick Investment Management LLC's holdings in Constellation Brands were worth $3,170,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Mainstream Capital Management LLC purchased a new position in shares of Constellation Brands in the 4th quarter valued at approximately $25,000. SBI Securities Co. Ltd. purchased a new position in Constellation Brands in the 4th quarter valued at $26,000. Compagnie Lombard Odier SCmA acquired a new position in Constellation Brands in the 4th quarter valued at $27,000. Union Bancaire Privee UBP SA purchased a new position in Constellation Brands during the 4th quarter worth $28,000. Finally, Versant Capital Management Inc lifted its stake in shares of Constellation Brands by 887.5% in the 4th quarter. Versant Capital Management Inc now owns 158 shares of the company's stock worth $35,000 after acquiring an additional 142 shares during the period. 77.34% of the stock is owned by hedge funds and other institutional investors.

Constellation Brands Price Performance

Shares of Constellation Brands stock traded down $2.14 during trading on Friday, hitting $185.36. 1,054,280 shares of the company were exchanged, compared to its average volume of 1,711,822. The firm has a 50 day moving average price of $180.88 and a 200 day moving average price of $204.36. The stock has a market capitalization of $33.50 billion, a price-to-earnings ratio of 49.83, a P/E/G ratio of 1.52 and a beta of 1.75. The company has a quick ratio of 0.46, a current ratio of 1.10 and a debt-to-equity ratio of 1.26. Constellation Brands, Inc. has a fifty-two week low of $160.46 and a fifty-two week high of $265.70.

Constellation Brands (NYSE:STZ - Get Free Report) last released its quarterly earnings results on Wednesday, April 9th. The company reported $2.63 earnings per share for the quarter, topping analysts' consensus estimates of $2.28 by $0.35. The company had revenue of $2.13 billion during the quarter, compared to analysts' expectations of $2.14 billion. Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The business's revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.26 earnings per share. On average, equities analysts expect that Constellation Brands, Inc. will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 29th will be paid a dividend of $1.02 per share. This is a boost from Constellation Brands's previous quarterly dividend of $1.01. This represents a $4.08 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend is Tuesday, April 29th. Constellation Brands's dividend payout ratio (DPR) is currently -800.00%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on STZ. Wells Fargo & Company cut their price target on shares of Constellation Brands from $230.00 to $210.00 and set an "overweight" rating for the company in a report on Wednesday, April 2nd. Truist Financial reduced their price target on Constellation Brands from $255.00 to $190.00 and set a "hold" rating for the company in a report on Tuesday, January 14th. Jefferies Financial Group restated a "hold" rating and issued a $201.00 price target (down from $310.00) on shares of Constellation Brands in a research note on Monday, January 13th. Evercore ISI cut their price objective on Constellation Brands from $300.00 to $250.00 and set an "outperform" rating for the company in a research report on Monday, January 13th. Finally, The Goldman Sachs Group decreased their target price on shares of Constellation Brands from $260.00 to $225.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $224.42.

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.