Allspring Global Investments Holdings LLC Sells 10,000 Shares of Constellation Brands, Inc. (NYSE:STZ)

Allspring Global Investments Holdings LLC lowered its stake in Constellation Brands, Inc. (NYSE:STZ) by 11.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 75,614 shares of the company’s stock after selling 10,000 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Constellation Brands were worth $18,280,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of STZ. Prudential PLC acquired a new stake in shares of Constellation Brands during the 1st quarter worth approximately $705,000. Cetera Investment Advisers increased its stake in shares of Constellation Brands by 1.0% in the 1st quarter. Cetera Investment Advisers now owns 17,026 shares of the company’s stock valued at $3,921,000 after purchasing an additional 163 shares during the last quarter. Sequoia Financial Advisors LLC raised its holdings in shares of Constellation Brands by 17.6% during the 1st quarter. Sequoia Financial Advisors LLC now owns 3,149 shares of the company’s stock worth $725,000 after buying an additional 471 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Constellation Brands by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 12,601,280 shares of the company’s stock worth $2,902,327,000 after buying an additional 313,344 shares during the last quarter. Finally, Ergoteles LLC acquired a new stake in Constellation Brands in the first quarter valued at about $257,000. Institutional investors and hedge funds own 77.34% of the company’s stock.

Wall Street Analyst Weigh In

STZ has been the subject of a number of research reports. Bank of America increased their target price on shares of Constellation Brands from $290.00 to $300.00 and gave the stock a “buy” rating in a report on Monday, March 18th. HSBC raised their target price on shares of Constellation Brands from $290.00 to $300.00 and gave the company a “buy” rating in a research report on Friday. Deutsche Bank Aktiengesellschaft increased their price target on Constellation Brands from $256.00 to $262.00 and gave the company a “hold” rating in a research note on Wednesday, April 10th. Wedbush restated an “outperform” rating and set a $300.00 price objective on shares of Constellation Brands in a research report on Wednesday, April 10th. Finally, Barclays dropped their target price on Constellation Brands from $296.00 to $294.00 and set an “overweight” rating for the company in a research report on Friday, April 5th. Four equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, Constellation Brands presently has an average rating of “Moderate Buy” and a consensus target price of $298.11.

Constellation Brands Stock Performance

STZ stock opened at $262.24 on Monday. The firm has a market cap of $47.94 billion, a PE ratio of 27.96, a price-to-earnings-growth ratio of 1.82 and a beta of 0.97. The company has a current ratio of 1.19, a quick ratio of 0.46 and a debt-to-equity ratio of 1.06. The stock has a 50-day moving average price of $256.84 and a 200-day moving average price of $246.96. Constellation Brands, Inc. has a 1-year low of $221.81 and a 1-year high of $274.87.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings results on Thursday, April 11th. The company reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.10 by $0.16. The firm had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.09 billion. Constellation Brands had a return on equity of 23.06% and a net margin of 16.13%. The company’s revenue was up 7.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.98 earnings per share. As a group, equities research analysts expect that Constellation Brands, Inc. will post 13.43 earnings per share for the current year.

Constellation Brands Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Friday, May 3rd will be issued a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a yield of 1.54%. This is a boost from Constellation Brands’s previous quarterly dividend of $0.89. The ex-dividend date of this dividend is Thursday, May 2nd. Constellation Brands’s dividend payout ratio (DPR) is presently 43.07%.

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 Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Victoria, Vicky Chamoy, and Pacifico brands.