Constellation Brands Inc $STZ Shares Sold by DAVENPORT & Co LLC

DAVENPORT & Co LLC trimmed its position in shares of Constellation Brands Inc (NYSE:STZ) by 95.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,363 shares of the company’s stock after selling 211,014 shares during the quarter. DAVENPORT & Co LLC’s holdings in Constellation Brands were worth $1,396,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its position in Constellation Brands by 23.0% during the 4th quarter. Brighton Jones LLC now owns 1,001 shares of the company’s stock worth $221,000 after purchasing an additional 187 shares during the period. State of Wyoming lifted its holdings in shares of Constellation Brands by 232.5% in the 1st quarter. State of Wyoming now owns 838 shares of the company’s stock valued at $154,000 after buying an additional 586 shares during the period. WPG Advisers LLC purchased a new stake in shares of Constellation Brands in the first quarter valued at approximately $43,000. Vident Advisory LLC boosted its stake in shares of Constellation Brands by 70.3% in the first quarter. Vident Advisory LLC now owns 4,828 shares of the company’s stock valued at $886,000 after buying an additional 1,993 shares in the last quarter. Finally, Baird Financial Group Inc. grew its holdings in Constellation Brands by 50.6% during the first quarter. Baird Financial Group Inc. now owns 152,906 shares of the company’s stock worth $28,061,000 after acquiring an additional 51,345 shares during the period. 77.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on STZ shares. Piper Sandler reduced their target price on Constellation Brands from $155.00 to $135.00 and set a “neutral” rating for the company in a report on Friday, November 21st. Roth Capital reiterated a “buy” rating and issued a $209.00 price target (down previously from $239.00) on shares of Constellation Brands in a report on Wednesday, September 3rd. Citigroup reduced their price objective on shares of Constellation Brands from $155.00 to $145.00 and set a “neutral” rating for the company in a research note on Tuesday, September 23rd. UBS Group set a $160.00 price objective on shares of Constellation Brands in a report on Tuesday, October 7th. Finally, Wells Fargo & Company lowered their target price on shares of Constellation Brands from $170.00 to $155.00 and set an “overweight” rating on the stock in a research report on Thursday, September 25th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, ten have issued a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $181.96.

Constellation Brands Price Performance

Constellation Brands stock opened at $139.43 on Monday. The firm has a market capitalization of $24.41 billion, a PE ratio of 20.35, a P/E/G ratio of 0.42 and a beta of 0.46. Constellation Brands Inc has a 52 week low of $126.45 and a 52 week high of $228.89. The firm’s 50-day simple moving average is $136.19 and its 200 day simple moving average is $149.79. The company has a quick ratio of 0.54, a current ratio of 1.08 and a debt-to-equity ratio of 1.26.

Constellation Brands (NYSE:STZ) last announced its earnings results on Thursday, February 23rd. The company reported $3.12 earnings per share (EPS) for the quarter. Constellation Brands had a net margin of 11.88% and a return on equity of 29.82%. The company had revenue of $2.32 billion during the quarter. On average, equities research analysts predict that Constellation Brands Inc will post 13.5 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 13th. Shareholders of record on Thursday, October 30th were issued a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date was Thursday, October 30th. Constellation Brands’s dividend payout ratio is 59.56%.

Constellation Brands Company Profile

Constellation Brands, Inc is a leading producer and marketer of beer, wine and spirits, with operations spanning production, importation, marketing and distribution. The company’s beverage portfolio includes a range of premium and mainstream wines and spirits alongside major imported beer brands; in the U.S. market Constellation is widely known for its role in bringing Mexican imports such as Corona and Modelo to American consumers. Constellation supplies retail, on‑premise and foodservice channels and supports its brands with national sales and marketing platforms and supply‑chain capabilities.

The company traces its roots to the Canandaigua Wine Company, founded by Marvin Sands in 1945, and evolved through organic growth and acquisition into a diversified beverage company.