Rockefeller Capital Management L.P. Sells 5,580 Shares of Constellation Brands, Inc. (NYSE:STZ)

Rockefeller Capital Management L.P. cut its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 5.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 104,306 shares of the company’s stock after selling 5,580 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Constellation Brands were worth $26,880,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in STZ. International Assets Investment Management LLC grew its stake in shares of Constellation Brands by 23,184.7% during the third quarter. International Assets Investment Management LLC now owns 499,689 shares of the company’s stock worth $128,765,000 after buying an additional 497,543 shares during the last quarter. Manning & Napier Advisors LLC acquired a new stake in shares of Constellation Brands during the 2nd quarter valued at $119,394,000. Dimensional Fund Advisors LP increased its holdings in Constellation Brands by 31.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,002,332 shares of the company’s stock worth $257,865,000 after purchasing an additional 241,982 shares in the last quarter. Coho Partners Ltd. raised its position in Constellation Brands by 40.1% in the third quarter. Coho Partners Ltd. now owns 283,079 shares of the company’s stock valued at $72,947,000 after purchasing an additional 80,970 shares during the last quarter. Finally, Interval Partners LP acquired a new stake in shares of Constellation Brands during the second quarter valued at about $19,134,000. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

STZ has been the subject of a number of research reports. BNP Paribas assumed coverage on shares of Constellation Brands in a report on Monday, November 25th. They issued a “neutral” rating and a $261.00 price objective for the company. BMO Capital Markets dropped their price target on shares of Constellation Brands from $315.00 to $305.00 and set an “outperform” rating for the company in a research note on Tuesday, October 15th. Truist Financial reduced their price objective on shares of Constellation Brands from $265.00 to $255.00 and set a “hold” rating on the stock in a research note on Friday, October 4th. Barclays lowered their target price on Constellation Brands from $309.00 to $300.00 and set an “overweight” rating for the company in a research report on Monday, October 7th. Finally, Evercore ISI reduced their price target on Constellation Brands from $310.00 to $300.00 and set an “outperform” rating on the stock in a research report on Friday, October 4th. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $289.16.

Constellation Brands Stock Up 2.1 %

STZ stock opened at $240.95 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. Constellation Brands, Inc. has a fifty-two week low of $224.76 and a fifty-two week high of $274.87. The stock’s 50 day simple moving average is $241.72 and its 200 day simple moving average is $246.75. The company has a market cap of $43.75 billion, a P/E ratio of 77.98, a price-to-earnings-growth ratio of 1.67 and a beta of 1.75.

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

Constellation Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th were paid a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 1.68%. The ex-dividend date of this dividend was Tuesday, November 5th. Constellation Brands’s dividend payout ratio (DPR) is presently 130.74%.

Insider Activity

In related news, Director Robert Sands sold 119,274 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $242.37, for a total transaction of $28,908,439.38. Following the transaction, the director now directly owns 431,729 shares of the company’s stock, valued at $104,638,157.73. This trade represents a 21.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Samuel J. Glaetzer sold 1,510 shares of the company’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $245.57, for a total transaction of $370,810.70. Following the completion of the sale, the executive vice president now directly owns 4,970 shares of the company’s stock, valued at $1,220,482.90. The trade was a 23.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 189,956 shares of company stock worth $46,058,091 over the last 90 days. 12.19% of the stock is currently owned by corporate insiders.

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 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.