Truist Financial Corp Has $9.15 Million Position in Constellation Brands, Inc. (NYSE:STZ)

Truist Financial Corp decreased its position in Constellation Brands, Inc. (NYSE:STZ - Free Report) by 9.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 37,859 shares of the company's stock after selling 3,829 shares during the quarter. Truist Financial Corp's holdings in Constellation Brands were worth $9,152,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. increased its position in shares of Constellation Brands by 18.8% during the third quarter. Robeco Institutional Asset Management B.V. now owns 10,291 shares of the company's stock worth $2,586,000 after acquiring an additional 1,629 shares during the period. Raymond James Financial Services Advisors Inc. boosted its stake in Constellation Brands by 0.7% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 59,892 shares of the company's stock valued at $15,053,000 after acquiring an additional 420 shares in the last quarter. Stratos Wealth Partners LTD. increased its position in shares of Constellation Brands by 6.6% during the third quarter. Stratos Wealth Partners LTD. now owns 12,401 shares of the company's stock worth $3,117,000 after purchasing an additional 763 shares in the last quarter. J.W. Cole Advisors Inc. increased its position in Constellation Brands by 16.3% during the third quarter. J.W. Cole Advisors Inc. now owns 1,750 shares of the company's stock worth $440,000 after buying an additional 245 shares during the period. Finally, NorthRock Partners LLC acquired a new stake in shares of Constellation Brands during the third quarter worth about $252,000. Hedge funds and other institutional investors own 77.34% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on STZ shares. Royal Bank of Canada upped their price target on Constellation Brands from $295.00 to $308.00 and gave the stock an "outperform" rating in a research note on Friday, April 12th. Roth Mkm restated a "buy" rating and issued a $305.00 price objective on shares of Constellation Brands in a research report on Friday, April 12th. UBS Group raised their price objective on shares of Constellation Brands from $312.00 to $320.00 and gave the company a "buy" rating in a research report on Friday, April 12th. Barclays raised their price objective on shares of Constellation Brands from $294.00 to $295.00 and gave the company an "overweight" rating in a research report on Monday, April 15th. Finally, TheStreet downgraded shares of Constellation Brands from a "b" rating to a "c+" rating in a research report on Friday, January 5th. Three research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $298.55.

Constellation Brands Price Performance

Shares of STZ traded up $2.00 during mid-day trading on Friday, reaching $256.08. 735,827 shares of the company's stock were exchanged, compared to its average volume of 1,237,218. 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 simple moving average of $260.65 and a two-hundred day simple moving average of $248.54. Constellation Brands, Inc. has a 52-week low of $221.81 and a 52-week high of $274.87. The company has a market cap of $46.82 billion, a price-to-earnings ratio of 27.30, a PEG ratio of 1.72 and a beta of 0.95.

Constellation Brands (NYSE:STZ - Get Free Report) last issued its quarterly earnings data on Thursday, April 11th. The company reported $2.26 earnings per share for the quarter, topping analysts' consensus estimates of $2.10 by $0.16. Constellation Brands had a net margin of 16.13% and a return on equity of 23.06%. The business had revenue of $2.14 billion during the quarter, compared to analysts' expectations of $2.09 billion. During the same period last year, the company posted $1.98 EPS. The company's revenue was up 7.1% on a year-over-year basis. On average, sell-side analysts predict that Constellation Brands, Inc. will post 13.51 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. Shareholders of record on Friday, May 3rd will be paid a $1.01 dividend. This is a boost from Constellation Brands's previous quarterly dividend of $0.89. This represents a $4.04 annualized dividend and a yield of 1.58%. The ex-dividend date of this dividend is Thursday, May 2nd. Constellation Brands's payout ratio is presently 37.95%.

Insider Activity

In other Constellation Brands news, CEO William A. Newlands sold 4,013 shares of the business's stock in a transaction on Friday, April 19th. The shares were sold at an average price of $263.25, for a total value of $1,056,422.25. Following the transaction, the chief executive officer now owns 5,395 shares in the company, valued at approximately $1,420,233.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO William A. Newlands sold 4,013 shares of the company's stock in a transaction dated Friday, April 19th. The shares were sold at an average price of $263.25, for a total value of $1,056,422.25. Following the sale, the chief executive officer now owns 5,395 shares in the company, valued at approximately $1,420,233.75. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP James A. Jr. Sabia sold 15,781 shares of the business's stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $263.63, for a total transaction of $4,160,345.03. Following the sale, the executive vice president now directly owns 20,910 shares of the company's stock, valued at approximately $5,512,503.30. The disclosure for this sale can be found here. Corporate insiders own 16.19% of the company's stock.

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.