Pinebridge Investments L.P. Lowers Stock Holdings in Constellation Brands, Inc. (NYSE:STZ)

Pinebridge Investments L.P. lessened its stake in shares of Constellation Brands, Inc. (NYSE:STZ - Free Report) by 14.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,701 shares of the company's stock after selling 4,220 shares during the period. Pinebridge Investments L.P.'s holdings in Constellation Brands were worth $5,680,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Mainstream Capital Management LLC purchased a new stake in shares of Constellation Brands during the fourth quarter valued at approximately $25,000. SBI Securities Co. Ltd. purchased a new position in Constellation Brands in the 4th quarter worth about $26,000. Compagnie Lombard Odier SCmA bought a new position in Constellation Brands during the 4th quarter valued at about $27,000. Union Bancaire Privee UBP SA purchased a new position in shares of Constellation Brands during the fourth quarter valued at approximately $28,000. Finally, Versant Capital Management Inc lifted its position in Constellation Brands by 887.5% during the fourth quarter. Versant Capital Management Inc now owns 158 shares of the company's stock valued at $35,000 after purchasing an additional 142 shares during the period. Hedge funds and other institutional investors own 77.34% of the company's stock.

Analyst Ratings Changes

STZ has been the topic of a number of recent research reports. Piper Sandler downgraded Constellation Brands from an "overweight" rating to a "neutral" rating and lowered their target price for the company from $245.00 to $200.00 in a report on Monday, February 3rd. Royal Bank of Canada reduced their price target on Constellation Brands from $289.00 to $233.00 and set an "outperform" rating for the company in a research report on Monday, April 14th. Citigroup lowered their price target on shares of Constellation Brands from $200.00 to $190.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Roth Capital cut their price target on Constellation Brands from $298.00 to $284.00 and set a "buy" rating for the company in a research note on Friday, January 17th. Finally, Roth Mkm lowered their price target on Constellation Brands from $284.00 to $256.00 and set a "buy" rating on the stock in a report on Thursday, April 3rd. One analyst has rated the stock with a sell rating, ten have issued a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $224.42.

Constellation Brands Trading Up 0.3 %

STZ traded up $0.61 during trading on Wednesday, reaching $186.89. The company had a trading volume of 235,680 shares, compared to its average volume of 1,708,669. The company has a quick ratio of 0.46, a current ratio of 1.10 and a debt-to-equity ratio of 1.26. The business has a 50 day simple moving average of $181.43 and a 200-day simple moving average of $203.85. The stock has a market cap of $33.78 billion, a P/E ratio of 50.24, a PEG 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.

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

Constellation Brands Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 29th will be paid a dividend of $1.02 per share. This is a positive change from Constellation Brands's previous quarterly dividend of $1.01. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date is Tuesday, April 29th. Constellation Brands's dividend payout ratio (DPR) is currently -800.00%.

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.