Allstate Corp Purchases Shares of 4,985 Constellation Brands, Inc. (NYSE:STZ)

Allstate Corp acquired a new position in Constellation Brands, Inc. (NYSE:STZ) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 4,985 shares of the company’s stock, valued at approximately $1,102,000.

Several other institutional investors have also modified their holdings of STZ. Norges Bank acquired a new stake in Constellation Brands in the 4th quarter valued at about $445,883,000. Vanguard Group Inc. raised its holdings in shares of Constellation Brands by 13.3% in the 4th quarter. Vanguard Group Inc. now owns 15,534,787 shares of the company’s stock worth $3,433,188,000 after purchasing an additional 1,821,969 shares in the last quarter. Van ECK Associates Corp lifted its stake in Constellation Brands by 1,844.7% during the fourth quarter. Van ECK Associates Corp now owns 924,274 shares of the company’s stock valued at $204,265,000 after purchasing an additional 876,745 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Constellation Brands during the fourth quarter worth approximately $105,766,000. Finally, State Street Corp grew its position in Constellation Brands by 6.0% in the third quarter. State Street Corp now owns 7,144,428 shares of the company’s stock worth $1,841,048,000 after buying an additional 402,211 shares during the last quarter. Institutional investors and hedge funds own 77.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on STZ shares. UBS Group cut their price objective on Constellation Brands from $265.00 to $223.00 and set a “buy” rating for the company in a research report on Friday, January 17th. Citigroup lowered Constellation Brands from a “buy” rating to a “neutral” rating and decreased their price target for the company from $260.00 to $200.00 in a research report on Thursday, March 20th. Roth Capital cut their price objective on Constellation Brands from $298.00 to $284.00 and set a “buy” rating on the stock in a report on Friday, January 17th. Piper Sandler lowered shares of Constellation Brands from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $245.00 to $200.00 in a research note on Monday, February 3rd. Finally, Royal Bank of Canada dropped their target price on shares of Constellation Brands from $293.00 to $289.00 and set an “outperform” rating on the stock in a research report on Friday, March 7th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $249.18.

Constellation Brands Price Performance

NYSE STZ opened at $183.69 on Monday. The company has a quick ratio of 0.46, a current ratio of 1.10 and a debt-to-equity ratio of 1.26. The stock has a market capitalization of $33.20 billion, a PE ratio of 49.38, a price-to-earnings-growth ratio of 1.52 and a beta of 1.75. Constellation Brands, Inc. has a 12-month low of $160.46 and a 12-month high of $274.87. The company has a 50 day moving average price of $177.19 and a two-hundred day moving average price of $214.50.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings data on Friday, January 10th. The company reported $3.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.08). Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The business had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.53 billion. During the same quarter in the prior year, the company posted $3.19 earnings per share. The company’s revenue for the quarter was down .3% on a year-over-year basis. As a group, equities analysts predict that Constellation Brands, Inc. will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The business 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 2.20%. Constellation Brands’s dividend payout ratio (DPR) is currently 108.60%.

Insiders Place Their Bets

In other news, Director William T. Giles acquired 1,000 shares of Constellation Brands stock in a transaction dated Friday, January 17th. The stock was acquired at an average cost of $186.39 per share, for a total transaction of $186,390.00. Following the completion of the purchase, the director now owns 1,463 shares of the company’s stock, valued at $272,688.57. This represents a 215.98 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 12.19% of the company’s stock.

Constellation Brands 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.