Constellation Brands, Inc. (NYSE:STZ) Shares Sold by Pacific Global Investment Management Co.

Pacific Global Investment Management Co. trimmed its stake in Constellation Brands, Inc. (NYSE:STZ) by 94.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,369 shares of the company’s stock after selling 21,712 shares during the quarter. Pacific Global Investment Management Co.’s holdings in Constellation Brands were worth $302,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. SBI Securities Co. Ltd. purchased a new position in Constellation Brands in the 4th quarter worth about $26,000. Compagnie Lombard Odier SCmA purchased a new position in shares of Constellation Brands in the fourth quarter worth approximately $27,000. Union Bancaire Privee UBP SA purchased a new position in shares of Constellation Brands in the fourth quarter worth approximately $28,000. Versant Capital Management Inc raised its holdings in shares of 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 acquiring an additional 142 shares during the period. Finally, Centricity Wealth Management LLC purchased a new stake in shares of Constellation Brands in the 4th quarter valued at approximately $35,000. 77.34% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Constellation Brands

In other news, Director William T. Giles bought 1,000 shares of the business’s stock in a transaction on Friday, January 17th. The stock was purchased at an average price of $186.39 per share, with a total value of $186,390.00. Following the transaction, the director now directly owns 1,463 shares in the company, valued at approximately $272,688.57. The trade was a 215.98 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 12.19% of the stock is currently owned by company insiders.

Constellation Brands Price Performance

NYSE STZ opened at $175.74 on Monday. Constellation Brands, Inc. has a fifty-two week low of $160.46 and a fifty-two week high of $274.87. The stock’s 50-day moving average is $189.00 and its two-hundred day moving average is $223.48. The firm has a market cap of $31.76 billion, a P/E ratio of 47.24, a price-to-earnings-growth ratio of 1.52 and a beta of 1.75. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.10 and a quick ratio of 0.46.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings data 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 company had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.53 billion. Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. The firm’s revenue was down .3% on a year-over-year basis. During the same period in the previous year, the business posted $3.19 earnings per share. On average, analysts anticipate that Constellation Brands, Inc. will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 7th were issued a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a dividend yield of 2.30%. The ex-dividend date of this dividend was Friday, February 7th. Constellation Brands’s dividend payout ratio is currently 108.60%.

Analyst Ratings Changes

Several research firms have weighed in on STZ. UBS Group lowered their price objective on shares of Constellation Brands from $265.00 to $223.00 and set a “buy” rating on the stock in a research report on Friday, January 17th. Piper Sandler downgraded Constellation Brands from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $245.00 to $200.00 in a report on Monday, February 3rd. Jefferies Financial Group reissued a “hold” rating and issued a $201.00 price objective (down from $310.00) on shares of Constellation Brands in a research note on Monday, January 13th. BNP Paribas began coverage on Constellation Brands in a research report on Monday, November 25th. They set a “neutral” rating and a $261.00 price objective for the company. Finally, StockNews.com downgraded Constellation Brands from a “hold” rating to a “sell” rating in a report on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $253.43.

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.