Choreo LLC Has $1.40 Million Stock Holdings in Constellation Brands, Inc. (NYSE:STZ)

Choreo LLC lessened its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 5.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,363 shares of the company’s stock after selling 371 shares during the period. Choreo LLC’s holdings in Constellation Brands were worth $1,400,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in STZ. Union Bancaire Privee UBP SA bought a new stake in shares of Constellation Brands in the fourth quarter valued at approximately $28,000. Versant Capital Management Inc boosted its position 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 acquiring an additional 142 shares during the period. Eastern Bank bought a new stake in shares of Constellation Brands in the third quarter valued at approximately $39,000. FSA Wealth Management LLC bought a new stake in shares of Constellation Brands in the third quarter valued at approximately $42,000. Finally, Truvestments Capital LLC bought a new stake in shares of Constellation Brands in the third quarter valued at approximately $60,000. Institutional investors and hedge funds own 77.34% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on STZ. BMO Capital Markets reduced their price objective on Constellation Brands from $315.00 to $305.00 and set an “outperform” rating for the company in a research report on Tuesday, October 15th. Wells Fargo & Company reduced their target price on Constellation Brands from $295.00 to $275.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Barclays reduced their target price on Constellation Brands from $282.00 to $214.00 and set an “overweight” rating for the company in a research report on Tuesday, January 14th. Truist Financial reduced their target price 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. Finally, BNP Paribas began coverage on Constellation Brands in a research report on Monday, November 25th. They issued a “neutral” rating and a $261.00 target price for the company. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $254.29.

Insider Activity

In related news, CEO William A. Newlands sold 25,000 shares of Constellation Brands stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $243.58, for a total value of $6,089,500.00. Following the completion of the sale, the chief executive officer now directly owns 7,274 shares in the company, valued at $1,771,800.92. This trade represents a 77.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP James A. Jr. Sabia sold 36,086 shares of Constellation Brands 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 completion of 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. Over the last ninety days, insiders sold 61,746 shares of company stock worth $15,017,097. 12.19% of the stock is owned by corporate insiders.

Constellation Brands Stock Performance

Shares of NYSE:STZ opened at $169.05 on Friday. Constellation Brands, Inc. has a twelve month low of $166.02 and a twelve month high of $274.87. The firm has a market cap of $30.55 billion, a PE ratio of 45.44, a price-to-earnings-growth ratio of 1.59 and a beta of 0.90. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.46 and a current ratio of 1.10. The business has a fifty day moving average of $210.28 and a 200-day moving average of $231.88.

Constellation Brands (NYSE:STZ) last announced its 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). Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. The business had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.53 billion. During the same quarter last year, the business posted $3.19 earnings per share. The business’s quarterly revenue was down .3% compared to the same quarter last year. On average, equities research analysts predict that Constellation Brands, Inc. will post 13.52 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Friday, February 7th will be paid a $1.01 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 2.39%. Constellation Brands’s dividend payout ratio (DPR) is presently 108.60%.

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.