Constellation Brands, Inc. (NYSE:STZ) Shares Acquired by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC grew its holdings in Constellation Brands, Inc. (NYSE:STZ) by 20.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,722 shares of the company’s stock after buying an additional 291 shares during the period. Frank Rimerman Advisors LLC’s holdings in Constellation Brands were worth $381,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Van ECK Associates Corp raised its position in shares of Constellation Brands by 1,844.7% in the fourth quarter. Van ECK Associates Corp now owns 924,274 shares of the company’s stock valued at $204,265,000 after buying an additional 876,745 shares during the last quarter. Copperleaf Capital LLC purchased a new stake in shares of Constellation Brands in the fourth quarter valued at about $343,000. Grimes & Company Inc. purchased a new stake in shares of Constellation Brands in the fourth quarter valued at about $6,099,000. Empowered Funds LLC grew its holdings in shares of Constellation Brands by 62.8% in the fourth quarter. Empowered Funds LLC now owns 16,575 shares of the company’s stock valued at $3,663,000 after purchasing an additional 6,391 shares during the period. Finally, Southern Style Financial Inc. purchased a new stake in shares of Constellation Brands in the fourth quarter valued at about $3,074,000. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Constellation Brands Stock Down 0.1 %

Shares of NYSE:STZ opened at $181.46 on Monday. The firm’s 50 day moving average price is $180.58 and its 200 day moving average price is $219.08. The stock has a market cap of $32.79 billion, a price-to-earnings ratio of 48.78, a price-to-earnings-growth ratio of 1.52 and a beta of 1.75. Constellation Brands, Inc. has a fifty-two week low of $160.46 and a fifty-two week 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 issued its 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 firm had revenue of $2.46 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the business earned $3.19 EPS. As a group, equities research analysts predict that Constellation Brands, Inc. will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 7th were issued a $1.01 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $4.04 annualized dividend and a yield of 2.23%. Constellation Brands’s dividend payout ratio (DPR) is 108.60%.

Insider Activity at Constellation Brands

In related news, Director William T. Giles acquired 1,000 shares of the business’s stock in a transaction on Friday, January 17th. The shares were bought at an average price of $186.39 per share, with a total value of $186,390.00. Following the completion of the acquisition, the director now owns 1,463 shares in the company, valued at $272,688.57. This trade represents a 215.98 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 12.19% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Piper Sandler lowered shares of Constellation Brands from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $245.00 to $200.00 in a report on Monday, February 3rd. Argus lowered shares of Constellation Brands from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Evercore ISI dropped their price objective on shares of Constellation Brands from $300.00 to $250.00 and set an “outperform” rating for the company in a report on Monday, January 13th. TD Cowen dropped their price objective on shares of Constellation Brands from $270.00 to $260.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. Finally, Truist Financial lowered their target price on shares of Constellation Brands from $255.00 to $190.00 and set a “hold” rating for the company in a research note on Tuesday, January 14th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $252.81.

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.