Constellation Brands, Inc. (NYSE:STZ) Holdings Lessened by Joho Capital LLC

Joho Capital LLC reduced its position in Constellation Brands, Inc. (NYSE:STZ) by 19.0% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 9,815 shares of the company’s stock after selling 2,300 shares during the period. Constellation Brands accounts for about 0.4% of Joho Capital LLC’s holdings, making the stock its 10th biggest holding. Joho Capital LLC’s holdings in Constellation Brands were worth $2,529,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. New Millennium Group LLC purchased a new position in Constellation Brands during the 2nd quarter worth $25,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Constellation Brands during the second quarter worth about $29,000. Horizon Bancorp Inc. IN acquired a new position in Constellation Brands in the 2nd quarter valued at about $32,000. LRI Investments LLC purchased a new stake in Constellation Brands during the 1st quarter valued at approximately $37,000. Finally, Opal Wealth Advisors LLC purchased a new stake in Constellation Brands during the 2nd quarter valued at approximately $36,000. 77.34% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on STZ shares. Bank of America reissued a “neutral” rating and issued a $255.00 target price (down previously from $300.00) on shares of Constellation Brands in a report on Monday, October 7th. Evercore ISI lowered their target price on shares of Constellation Brands from $310.00 to $300.00 and set an “outperform” rating on the stock in a report on Friday, October 4th. BMO Capital Markets reduced their price objective on shares of Constellation Brands from $315.00 to $305.00 and set an “outperform” rating for the company in a research report on Tuesday, October 15th. Truist Financial cut their target price on Constellation Brands from $265.00 to $255.00 and set a “hold” rating for the company in a research note on Friday, October 4th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $308.00 price objective on shares of Constellation Brands in a report on Tuesday, November 19th. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, Constellation Brands has a consensus rating of “Moderate Buy” and an average price target of $289.16.

Insider Activity at Constellation Brands

In other news, EVP James A. Jr. Sabia sold 36,086 shares of Constellation Brands stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $242.99, for a total value of $8,768,537.14. Following the completion of the sale, the executive vice president now owns 16,042 shares of the company’s stock, valued at $3,898,045.58. The trade was a 69.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William A. Newlands sold 7,426 shares of the stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $237.24, for a total value of $1,761,744.24. Following the transaction, the chief executive officer now owns 7,274 shares in the company, valued at $1,725,683.76. This trade represents a 50.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 189,956 shares of company stock valued at $46,058,091. Company insiders own 12.19% of the company’s stock.

Constellation Brands Price Performance

Shares of NYSE:STZ opened at $235.97 on Friday. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.53 and a current ratio of 1.25. The business’s fifty day moving average price is $241.87 and its two-hundred day moving average price is $246.92. The stock has a market cap of $42.84 billion, a PE ratio of 76.37, a price-to-earnings-growth ratio of 1.67 and a beta of 0.90. Constellation Brands, Inc. has a one year low of $224.76 and a one year high of $274.87.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings data on Thursday, October 3rd. The company reported $4.32 EPS for the quarter, beating analysts’ consensus estimates of $4.08 by $0.24. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The business had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.95 billion. During the same quarter last year, the company earned $3.70 earnings per share. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. On average, analysts forecast that Constellation Brands, Inc. will post 13.57 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th were given a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date of this dividend was Tuesday, November 5th. Constellation Brands’s dividend payout ratio is presently 130.74%.

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.