Constellation Brands, Inc. (NYSE:STZ) Shares Sold by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. lessened its stake in Constellation Brands, Inc. (NYSE:STZ - Free Report) by 0.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 383,309 shares of the company's stock after selling 3,074 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned 0.21% of Constellation Brands worth $92,665,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Impact Partnership Wealth LLC raised its stake in shares of Constellation Brands by 1,175.0% during the 3rd quarter. Impact Partnership Wealth LLC now owns 102 shares of the company's stock worth $26,000 after buying an additional 94 shares during the last quarter. BKM Wealth Management LLC acquired a new position in Constellation Brands during the fourth quarter worth about $28,000. Asset Dedication LLC lifted its holdings in shares of Constellation Brands by 3,833.3% in the third quarter. Asset Dedication LLC now owns 118 shares of the company's stock valued at $30,000 after purchasing an additional 115 shares in the last quarter. Resurgent Financial Advisors LLC acquired a new stake in shares of Constellation Brands in the fourth quarter valued at approximately $34,000. Finally, Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Constellation Brands in the fourth quarter valued at approximately $37,000. Institutional investors and hedge funds own 77.34% of the company's stock.

Wall Street Analysts Forecast Growth

STZ has been the subject of a number of analyst reports. JPMorgan Chase & Co. cut their price target on Constellation Brands from $309.00 to $301.00 and set an "overweight" rating for the company in a report on Thursday, December 21st. Piper Sandler began coverage on shares of Constellation Brands in a report on Friday, March 22nd. They issued an "overweight" rating and a $300.00 target price on the stock. Royal Bank of Canada raised their price target on shares of Constellation Brands from $295.00 to $308.00 and gave the stock an "outperform" rating in a research note on Friday, April 12th. BMO Capital Markets boosted their price objective on shares of Constellation Brands from $290.00 to $315.00 and gave the company an "outperform" rating in a research report on Friday, April 12th. Finally, TheStreet lowered shares of Constellation Brands from a "b" rating to a "c+" rating in a research report on Friday, January 5th. Three equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $298.55.

Insider Buying and Selling

In other Constellation Brands news, EVP James A. Jr. Sabia sold 15,781 shares of the firm's stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $263.63, for a total value of $4,160,345.03. Following the transaction, the executive vice president now directly owns 20,910 shares of the company's stock, valued at $5,512,503.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 16.19% of the stock is owned by corporate insiders.

Constellation Brands Trading Down 0.2 %

Shares of Constellation Brands stock traded down $0.47 during trading hours on Wednesday, reaching $257.31. The stock had a trading volume of 1,530,438 shares, compared to its average volume of 1,275,867. The firm has a market capitalization of $47.04 billion, a price-to-earnings ratio of 27.43, a P/E/G ratio of 1.75 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 current ratio of 1.19, a quick ratio of 0.53 and a debt-to-equity ratio of 1.06. The firm has a 50 day simple moving average of $257.51 and a two-hundred day simple moving average of $247.13.

Constellation Brands (NYSE:STZ - Get Free Report) last posted 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. Constellation Brands had a net margin of 16.13% and a return on equity of 23.06%. The firm had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.09 billion. During the same quarter last year, the firm posted $1.98 earnings per share. Constellation Brands's revenue for the quarter was up 7.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Constellation Brands, Inc. will post 13.5 earnings per share for the current year.

Constellation Brands Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Friday, May 3rd will be issued a dividend of $1.01 per share. 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. This represents a $4.04 annualized dividend and a dividend yield of 1.57%. Constellation Brands's payout ratio is presently 37.95%.

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.