Brandywine Global Investment Management LLC Sells 1,950 Shares of Constellation Brands, Inc. (NYSE:STZ)

Brandywine Global Investment Management LLC cut its position in Constellation Brands, Inc. (NYSE:STZ) by 7.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,180 shares of the company’s stock after selling 1,950 shares during the quarter. Brandywine Global Investment Management LLC’s holdings in Constellation Brands were worth $5,123,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Allworth Financial LP boosted its position in shares of Constellation Brands by 0.8% in the fourth quarter. Allworth Financial LP now owns 7,357 shares of the company’s stock valued at $1,626,000 after acquiring an additional 59 shares during the period. BSW Wealth Partners raised its stake in Constellation Brands by 4.2% in the 4th quarter. BSW Wealth Partners now owns 1,563 shares of the company’s stock worth $345,000 after purchasing an additional 63 shares in the last quarter. Philip James Wealth Mangement LLC boosted its holdings in Constellation Brands by 8.0% in the 4th quarter. Philip James Wealth Mangement LLC now owns 923 shares of the company’s stock valued at $204,000 after purchasing an additional 68 shares during the period. Oak Asset Management LLC grew its position in shares of Constellation Brands by 0.4% during the 4th quarter. Oak Asset Management LLC now owns 17,611 shares of the company’s stock worth $3,892,000 after purchasing an additional 71 shares in the last quarter. Finally, Barden Capital Management Inc. increased its holdings in shares of Constellation Brands by 1.3% during the fourth quarter. Barden Capital Management Inc. now owns 5,574 shares of the company’s stock worth $1,232,000 after purchasing an additional 72 shares during the period. 77.34% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director William T. Giles bought 1,000 shares of the stock in a transaction that occurred on Friday, January 17th. The stock was acquired at an average price of $186.39 per share, with a total value of $186,390.00. Following the completion of the purchase, the director now directly owns 1,463 shares of the company’s stock, valued at approximately $272,688.57. This represents a 215.98 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 12.19% of the company’s stock.

Constellation Brands Stock Up 0.8 %

NYSE:STZ opened at $184.98 on Wednesday. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.10 and a quick ratio of 0.46. Constellation Brands, Inc. has a one year low of $160.46 and a one year high of $274.87. The firm’s 50 day simple moving average is $177.22 and its 200 day simple moving average is $213.55. The company has a market cap of $33.43 billion, a PE ratio of 49.73, a P/E/G ratio of 1.52 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 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 26.55% and a net margin of 6.27%. The business’s revenue for the quarter was down .3% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.19 EPS. On average, research analysts anticipate that Constellation Brands, Inc. will post 13.5 earnings per share for the current year.

Constellation Brands Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 7th were given a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date of this dividend was Friday, February 7th. Constellation Brands’s dividend payout ratio is presently 108.60%.

Analysts Set New Price Targets

STZ has been the subject of several recent research reports. Evercore ISI cut their price target on Constellation Brands from $300.00 to $250.00 and set an “outperform” rating for the company in a research note on Monday, January 13th. Barclays cut their target price on Constellation Brands from $205.00 to $203.00 and set an “overweight” rating for the company in a research report on Thursday, March 27th. Roth Capital dropped their price target on Constellation Brands from $298.00 to $284.00 and set a “buy” rating for the company in a research note on Friday, January 17th. TD Cowen reduced their price objective on shares of Constellation Brands from $270.00 to $260.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Finally, Needham & Company LLC dropped their target price on shares of Constellation Brands from $240.00 to $215.00 and set a “buy” rating for the company in a research report on Thursday, March 27th. One investment 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, Constellation Brands has a consensus rating of “Hold” and an average target price of $249.18.

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.