Constellation Brands, Inc. (NYSE:STZ) Shares Sold by Huntington National Bank

Huntington National Bank lessened its stake in Constellation Brands, Inc. (NYSE:STZ) by 53.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 138,538 shares of the company’s stock after selling 158,615 shares during the quarter. Huntington National Bank owned approximately 0.08% of Constellation Brands worth $30,617,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new stake in Constellation Brands during the fourth quarter worth about $445,883,000. Vanguard Group Inc. increased its stake in Constellation Brands by 13.3% during the fourth quarter. Vanguard Group Inc. now owns 15,534,787 shares of the company’s stock worth $3,433,188,000 after purchasing an additional 1,821,969 shares during the period. Van ECK Associates Corp grew its stake in Constellation Brands by 1,844.7% during the 4th quarter. Van ECK Associates Corp now owns 924,274 shares of the company’s stock worth $204,265,000 after purchasing an additional 876,745 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Constellation Brands during the 4th quarter worth $105,766,000. Finally, State Street Corp raised its holdings in Constellation Brands by 6.0% during the third quarter. State Street Corp now owns 7,144,428 shares of the company’s stock worth $1,841,048,000 after purchasing an additional 402,211 shares in the last quarter. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Truist Financial decreased their price objective on Constellation Brands from $255.00 to $190.00 and set a “hold” rating for the company in a research report on Tuesday, January 14th. Jefferies Financial Group restated a “hold” rating and set a $201.00 price objective (down previously from $310.00) on shares of Constellation Brands in a report on Monday, January 13th. Roth Capital decreased their target price on Constellation Brands from $298.00 to $284.00 and set a “buy” rating for the company in a report on Friday, January 17th. UBS Group cut their price objective on Constellation Brands from $265.00 to $223.00 and set a “buy” rating on the stock in a research report on Friday, January 17th. Finally, Morgan Stanley downgraded Constellation Brands from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $220.00 to $202.00 in a research report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Constellation Brands currently has an average rating of “Hold” and an average price target of $249.18.

Constellation Brands Stock Performance

Shares of NYSE:STZ opened at $184.98 on Wednesday. The firm has a market cap of $33.43 billion, a PE ratio of 49.73, a PEG ratio of 1.52 and a beta of 1.75. The company’s 50 day moving average price is $177.22 and its two-hundred day moving average price is $213.55. Constellation Brands, Inc. has a 12-month low of $160.46 and a 12-month high of $274.87. The company has a quick ratio of 0.46, a current ratio of 1.10 and a debt-to-equity ratio of 1.26.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings results on Friday, January 10th. The company reported $3.25 EPS for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.08). The business had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.53 billion. Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. Constellation Brands’s quarterly revenue was down .3% on a year-over-year basis. During the same period last year, the firm posted $3.19 EPS. Equities research analysts predict that Constellation Brands, Inc. will post 13.5 earnings per share for the current year.

Constellation Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 7th were issued a dividend of $1.01 per share. The ex-dividend date was Friday, February 7th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 2.18%. Constellation Brands’s dividend payout ratio (DPR) is presently 108.60%.

Insider Activity at Constellation Brands

In other news, Director William T. Giles bought 1,000 shares of Constellation Brands stock in a transaction dated Friday, January 17th. The stock was bought at an average cost of $186.39 per share, for a total transaction of $186,390.00. Following the purchase, the director now directly owns 1,463 shares in the company, valued at approximately $272,688.57. This represents a 215.98 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 12.19% of the stock is currently owned by company insiders.

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.