Allspring Global Investments Holdings LLC Has $18.28 Million Stock Holdings in Constellation Brands, Inc. (NYSE:STZ)

Allspring Global Investments Holdings LLC lowered its position in shares of Constellation Brands, Inc. (NYSE:STZ - Free Report) by 11.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 75,614 shares of the company's stock after selling 10,000 shares during the period. Allspring Global Investments Holdings LLC's holdings in Constellation Brands were worth $18,280,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in STZ. Moneta Group Investment Advisors LLC increased its stake in shares of Constellation Brands by 84,839.5% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 3,742,434 shares of the company's stock worth $867,309,000 after buying an additional 3,738,028 shares during the last quarter. Norges Bank acquired a new position in shares of Constellation Brands during the fourth quarter valued at $373,796,000. Barclays PLC boosted its holdings in shares of Constellation Brands by 102.0% during the second quarter. Barclays PLC now owns 2,937,570 shares of the company's stock valued at $723,027,000 after acquiring an additional 1,483,668 shares during the period. Morgan Stanley boosted its holdings in shares of Constellation Brands by 31.3% during the fourth quarter. Morgan Stanley now owns 3,809,273 shares of the company's stock valued at $882,799,000 after acquiring an additional 908,486 shares during the period. Finally, Darsana Capital Partners LP boosted its holdings in shares of Constellation Brands by 288.9% during the third quarter. Darsana Capital Partners LP now owns 875,000 shares of the company's stock valued at $219,914,000 after acquiring an additional 650,000 shares during the period. Hedge funds and other institutional investors own 77.34% of the company's stock.

Constellation Brands Stock Down 1.4 %

Shares of STZ traded down $3.72 during trading hours on Monday, reaching $258.52. The company's stock had a trading volume of 1,825,209 shares, compared to its average volume of 1,265,415. The firm has a market cap of $47.26 billion, a price-to-earnings ratio of 27.69, a P/E/G ratio of 1.78 and a beta of 0.97. Constellation Brands, Inc. has a 1-year low of $221.81 and a 1-year high of $274.87. The company has a quick ratio of 0.53, a current ratio of 1.19 and a debt-to-equity ratio of 1.06. The company has a 50 day moving average of $256.84 and a two-hundred day moving average of $246.96.

Constellation Brands (NYSE:STZ - Get Free Report) last announced its quarterly earnings results on Thursday, April 11th. The company reported $2.26 EPS for the quarter, beating the consensus estimate of $2.10 by $0.16. The business had revenue of $2.14 billion during the quarter, compared to analysts' expectations of $2.09 billion. Constellation Brands had a return on equity of 23.06% and a net margin of 16.13%. The firm's quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.98 EPS. As a group, research analysts predict that Constellation Brands, Inc. will post 13.43 EPS for the current fiscal year.

Constellation Brands Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Friday, May 3rd will be paid a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.56%. This is a positive change from Constellation Brands's previous quarterly dividend of $0.89. The ex-dividend date of this dividend is Thursday, May 2nd. Constellation Brands's dividend payout ratio is presently 37.95%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on STZ. Wedbush reaffirmed an "outperform" rating and issued a $300.00 price objective on shares of Constellation Brands in a report on Wednesday, April 10th. Royal Bank of Canada boosted their price target on shares of Constellation Brands from $295.00 to $308.00 and gave the stock an "outperform" rating in a research report on Friday. JPMorgan Chase & Co. dropped their price target on shares of Constellation Brands from $309.00 to $301.00 and set an "overweight" rating on the stock in a research report on Thursday, December 21st. Jefferies Financial Group boosted their price target on shares of Constellation Brands from $292.00 to $314.00 and gave the stock a "buy" rating in a research report on Friday. Finally, Piper Sandler started coverage on shares of Constellation Brands in a research report on Friday, March 22nd. They issued an "overweight" rating and a $300.00 price target on the stock. Three research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $298.55.

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 Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Victoria, Vicky Chamoy, and Pacifico brands.