Grove Bank & Trust Sells 221 Shares of Constellation Brands, Inc. (NYSE:STZ)

Grove Bank & Trust decreased its holdings in Constellation Brands, Inc. (NYSE:STZ) by 7.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,617 shares of the company’s stock after selling 221 shares during the quarter. Grove Bank & Trust’s holdings in Constellation Brands were worth $578,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in STZ. International Assets Investment Management LLC lifted its stake in Constellation Brands by 23,184.7% in the third quarter. International Assets Investment Management LLC now owns 499,689 shares of the company’s stock valued at $128,765,000 after buying an additional 497,543 shares during the period. State Street Corp increased its position in shares of 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 acquiring an additional 402,211 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Constellation Brands by 66.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 369,966 shares of the company’s stock valued at $81,762,000 after purchasing an additional 147,457 shares during the period. NFJ Investment Group LLC lifted its stake in Constellation Brands by 617.3% in the 3rd quarter. NFJ Investment Group LLC now owns 108,382 shares of the company’s stock valued at $27,929,000 after acquiring an additional 93,273 shares in the last quarter. Finally, World Investment Advisors LLC boosted its holdings in Constellation Brands by 4,601.2% during the third quarter. World Investment Advisors LLC now owns 87,771 shares of the company’s stock worth $22,618,000 after purchasing an additional 85,904 shares during the last quarter. Institutional investors and hedge funds own 77.34% of the company’s stock.

Insiders Place Their Bets

In other news, CEO William A. Newlands sold 7,426 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $237.24, for a total transaction of $1,761,744.24. Following the transaction, the chief executive officer now owns 7,274 shares of the company’s stock, valued at approximately $1,725,683.76. This represents a 50.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP James A. Jr. Sabia sold 36,086 shares of the business’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $242.99, for a total transaction of $8,768,537.14. Following the completion of the sale, the executive vice president now directly owns 16,042 shares of the company’s stock, valued at approximately $3,898,045.58. This trade represents a 69.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 69,172 shares of company stock worth $16,778,841 in the last 90 days. 12.19% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. TD Cowen decreased their target price on shares of Constellation Brands from $270.00 to $260.00 and set a “hold” rating for the company in a research note on Wednesday, January 8th. BNP Paribas initiated coverage on Constellation Brands in a research note on Monday, November 25th. They issued a “neutral” rating and a $261.00 price target for the company. Truist Financial lowered their target price on shares of Constellation Brands from $255.00 to $190.00 and set a “hold” rating on the stock in a report on Tuesday, January 14th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $308.00 price objective on shares of Constellation Brands in a research report on Tuesday, January 7th. Finally, Bank of America reaffirmed a “neutral” rating and issued a $255.00 target price (down previously from $300.00) on shares of Constellation Brands in a report on Monday, October 7th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Constellation Brands currently has an average rating of “Moderate Buy” and a consensus price target of $259.05.

Constellation Brands Stock Performance

Shares of STZ opened at $184.05 on Monday. The company has a current ratio of 1.25, a quick ratio of 0.53 and a debt-to-equity ratio of 1.31. The company has a market cap of $33.26 billion, a price-to-earnings ratio of 49.48, a P/E/G ratio of 1.28 and a beta of 1.75. The business’s fifty day simple moving average is $226.75 and its two-hundred day simple moving average is $238.82. Constellation Brands, Inc. has a 12 month low of $176.51 and a 12 month high of $274.87.

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 the consensus estimate 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 firm’s revenue was down .3% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.19 earnings per share. Research analysts anticipate that Constellation Brands, Inc. will post 13.72 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Friday, February 7th will be paid a dividend of $1.01 per share. The ex-dividend date is Friday, February 7th. This represents a $4.04 annualized dividend and a yield of 2.20%. Constellation Brands’s payout ratio is 108.60%.

Constellation Brands Company 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.