Groupama Asset Managment Trims Holdings in Constellation Brands, Inc. (NYSE:STZ)

Groupama Asset Managment lowered its position in Constellation Brands, Inc. (NYSE:STZ) by 47.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,088 shares of the company’s stock after selling 10,168 shares during the period. Groupama Asset Managment’s holdings in Constellation Brands were worth $2,436,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of STZ. Vanguard Group Inc. lifted its stake in Constellation Brands by 13.3% during the 4th quarter. Vanguard Group Inc. now owns 15,534,787 shares of the company’s stock valued at $3,433,188,000 after acquiring an additional 1,821,969 shares during the period. State Street Corp raised its holdings in shares of Constellation Brands by 6.0% during the third quarter. State Street Corp now owns 7,144,428 shares of the company’s stock worth $1,841,048,000 after purchasing an additional 402,211 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Constellation Brands by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 3,204,003 shares of the company’s stock worth $705,844,000 after purchasing an additional 63,323 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Constellation Brands by 13.2% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,176,095 shares of the company’s stock valued at $482,919,000 after purchasing an additional 253,445 shares during the period. Finally, Norges Bank purchased a new stake in Constellation Brands in the fourth quarter valued at $445,883,000. Institutional investors and hedge funds own 77.34% of the company’s stock.

Constellation Brands Trading Up 0.8 %

Shares of Constellation Brands stock opened at $184.98 on Wednesday. Constellation Brands, Inc. has a twelve month low of $160.46 and a twelve month high of $274.87. The firm’s 50-day moving average price is $177.22 and its 200 day moving average price is $213.55. The company has a current ratio of 1.10, a quick ratio of 0.46 and a debt-to-equity ratio of 1.26. The firm has a market capitalization 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 results on Friday, January 10th. The company reported $3.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.08). Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The firm had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.53 billion. During the same period in the prior year, the firm earned $3.19 earnings per share. The business’s revenue was down .3% on a year-over-year basis. On average, sell-side analysts predict that Constellation Brands, Inc. will post 13.5 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

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

Insider Activity

In other Constellation Brands news, Director William T. Giles purchased 1,000 shares of the stock in a transaction that occurred on Friday, January 17th. The shares were purchased at an average cost of $186.39 per share, for a total transaction of $186,390.00. Following the completion of the transaction, the director now owns 1,463 shares of the company’s stock, valued at $272,688.57. The trade was a 215.98 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 12.19% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on STZ shares. Roth Capital reduced their price objective 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. Piper Sandler cut Constellation Brands from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $245.00 to $200.00 in a research report on Monday, February 3rd. Argus lowered Constellation Brands from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Needham & Company LLC dropped their price objective on shares of Constellation Brands from $240.00 to $215.00 and set a “buy” rating on the stock in a research note on Thursday, March 27th. Finally, Evercore ISI decreased their target price on shares of Constellation Brands from $300.00 to $250.00 and set an “outperform” rating for the company in a research note on Monday, January 13th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $249.18.

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.