Peddock Capital Advisors LLC Cuts Position in Constellation Brands, Inc. (NYSE:STZ)

Peddock Capital Advisors LLC lessened its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 0.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,364 shares of the company’s stock after selling 112 shares during the period. Constellation Brands comprises 1.0% of Peddock Capital Advisors LLC’s investment portfolio, making the stock its 21st biggest holding. Peddock Capital Advisors LLC’s holdings in Constellation Brands were worth $4,058,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Oakworth Capital Inc. increased its stake in Constellation Brands by 4.4% in the third quarter. Oakworth Capital Inc. now owns 989 shares of the company’s stock valued at $255,000 after purchasing an additional 42 shares during the last quarter. PFG Investments LLC raised its stake in shares of Constellation Brands by 3.8% in the 3rd quarter. PFG Investments LLC now owns 1,150 shares of the company’s stock valued at $296,000 after acquiring an additional 42 shares during the period. Brighton Jones LLC lifted its stake in shares of Constellation Brands by 4.7% during the second quarter. Brighton Jones LLC now owns 950 shares of the company’s stock worth $244,000 after purchasing an additional 43 shares in the last quarter. Metis Global Partners LLC boosted its holdings in Constellation Brands by 0.8% in the 3rd quarter. Metis Global Partners LLC now owns 5,570 shares of the company’s stock worth $1,435,000 after acquiring an additional 46 shares during the period. Finally, Rosenberg Matthew Hamilton grew its holdings in Constellation Brands by 6.2% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 858 shares of the company’s stock valued at $221,000 after purchasing an additional 50 shares in the last quarter. 77.34% of the stock is owned by hedge funds and other institutional investors.

Constellation Brands Price Performance

Constellation Brands stock traded up $4.03 during midday trading on Monday, reaching $185.84. 5,460,442 shares of the stock traded hands, compared to its average volume of 3,255,860. Constellation Brands, Inc. has a 12 month low of $176.51 and a 12 month high of $274.87. The company has a quick ratio of 0.53, a current ratio of 1.25 and a debt-to-equity ratio of 1.31. The stock’s fifty day moving average is $231.88 and its 200-day moving average is $241.28. The stock has a market cap of $33.74 billion, a P/E ratio of 60.14, a PEG ratio of 1.69 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $2.53 billion. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The business’s quarterly revenue was down .3% on a year-over-year basis. During the same period last year, the firm earned $3.19 EPS. As a group, equities research analysts anticipate that Constellation Brands, Inc. will post 13.57 EPS for the current year.

Constellation Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Friday, February 7th will be given a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a dividend yield of 2.17%. The ex-dividend date of this dividend is Friday, February 7th. Constellation Brands’s payout ratio is 130.74%.

Insider Buying and Selling at Constellation Brands

In related news, Director Robert Sands sold 119,274 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the director now owns 431,729 shares in the company, valued at $104,638,157.73. The trade was a 21.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William A. Newlands sold 7,426 shares of the company’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $237.24, for a total transaction of $1,761,744.24. Following the completion of the sale, the chief executive officer now owns 7,274 shares of the company’s stock, valued at approximately $1,725,683.76. This trade represents a 50.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 188,446 shares of company stock worth $45,687,281 in the last three months. 12.19% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on STZ shares. Jefferies Financial Group reaffirmed a “hold” rating and set a $201.00 target price (down previously from $310.00) on shares of Constellation Brands in a report on Monday. BNP Paribas began coverage on Constellation Brands in a research note on Monday, November 25th. They set a “neutral” rating and a $261.00 target price on the stock. Evercore ISI dropped their target price on Constellation Brands from $300.00 to $250.00 and set an “outperform” rating on the stock in a report on Monday. Piper Sandler decreased their target price on Constellation Brands from $300.00 to $245.00 and set an “overweight” rating on the stock in a report on Monday. Finally, Needham & Company LLC restated a “buy” rating and issued a $280.00 price target on shares of Constellation Brands in a research report on Friday. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $268.05.

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.