CCM Investment Advisers LLC Sells 5,431 Shares of Constellation Brands, Inc. (NYSE:STZ)

CCM Investment Advisers LLC trimmed its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 15.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 29,631 shares of the company’s stock after selling 5,431 shares during the quarter. CCM Investment Advisers LLC’s holdings in Constellation Brands were worth $6,548,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of STZ. Ashton Thomas Private Wealth LLC bought a new position in Constellation Brands during the 2nd quarter worth about $36,000. Wellington Shields & Co. LLC lifted its stake in Constellation Brands by 50.0% in the 2nd quarter. Wellington Shields & Co. LLC now owns 150 shares of the company’s stock valued at $39,000 after acquiring an additional 50 shares in the last quarter. Eastern Bank bought a new position in shares of Constellation Brands during the 3rd quarter worth approximately $39,000. Versant Capital Management Inc raised its holdings in shares of Constellation Brands by 887.5% in 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 last quarter. Finally, FSA Wealth Management LLC bought a new stake in shares of Constellation Brands in the third quarter worth $42,000. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have issued reports on STZ. Evercore ISI lowered their price target on shares of Constellation Brands from $310.00 to $300.00 and set an “outperform” rating on the stock in a research note on Friday, October 4th. Truist Financial dropped their target price on Constellation Brands from $265.00 to $255.00 and set a “hold” rating on the stock in a report on Friday, October 4th. Wells Fargo & Company decreased their price target on Constellation Brands from $295.00 to $275.00 and set an “overweight” rating for the company in a research note on Tuesday. JPMorgan Chase & Co. dropped their price objective on Constellation Brands from $293.00 to $262.00 and set an “overweight” rating on the stock in a research note on Tuesday. Finally, Bank of America reissued a “neutral” rating and issued a $255.00 price objective (down previously from $300.00) on shares of Constellation Brands in a report on Monday, October 7th. Five investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $284.75.

Constellation Brands Stock Performance

Shares of Constellation Brands stock traded down $33.09 during trading on Friday, reaching $186.19. The company’s stock had a trading volume of 3,490,548 shares, compared to its average volume of 1,992,941. Constellation Brands, Inc. has a 52 week low of $186.13 and a 52 week high of $274.87. The firm has a market cap of $33.81 billion, a PE ratio of 60.26, a P/E/G ratio of 1.69 and a beta of 1.75. The business’s 50-day moving average price is $232.90 and its 200-day moving average price is $242.14. The company has a quick ratio of 0.53, a current ratio of 1.25 and a debt-to-equity ratio of 1.31.

Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Friday, January 10th. The company reported $3.25 earnings per share for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.08). The business had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.53 billion. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. The firm’s quarterly revenue was down .3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.19 earnings per share. Equities analysts forecast that Constellation Brands, Inc. will post 13.57 earnings per share for the current year.

Constellation Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Friday, February 7th will be given a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a yield of 2.17%. Constellation Brands’s dividend payout ratio is presently 130.74%.

Insider Activity at Constellation Brands

In other Constellation Brands news, Director Robert Sands sold 119,274 shares of Constellation Brands stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $242.37, for a total transaction of $28,908,439.38. Following the transaction, the director now directly owns 431,729 shares of the company’s stock, valued at approximately $104,638,157.73. The trade was a 21.65 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP James A. Jr. Sabia sold 36,086 shares of the stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $242.99, for a total value of $8,768,537.14. Following the sale, the executive vice president now owns 16,042 shares of the company’s stock, valued at approximately $3,898,045.58. The trade was a 69.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 189,956 shares of company stock valued at $46,058,091. 12.19% of the stock is owned by insiders.

Constellation Brands 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.