Townsend Asset Management Corp NC ADV Sells 5,724 Shares of Constellation Brands, Inc. (NYSE:STZ)

Townsend Asset Management Corp NC ADV reduced its position in Constellation Brands, Inc. (NYSE:STZ) by 78.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,559 shares of the company’s stock after selling 5,724 shares during the period. Townsend Asset Management Corp NC ADV’s holdings in Constellation Brands were worth $345,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Farther Finance Advisors LLC lifted its stake in shares of Constellation Brands by 22.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 812 shares of the company’s stock valued at $209,000 after buying an additional 150 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its position in shares of Constellation Brands by 2.4% during the third quarter. Robeco Institutional Asset Management B.V. now owns 9,995 shares of the company’s stock worth $2,576,000 after acquiring an additional 237 shares in the last quarter. Asset Management One Co. Ltd. boosted its holdings in shares of Constellation Brands by 2.3% in the third quarter. Asset Management One Co. Ltd. now owns 61,102 shares of the company’s stock worth $15,745,000 after acquiring an additional 1,377 shares during the period. HMS Capital Management LLC grew its position in shares of Constellation Brands by 8.2% in the third quarter. HMS Capital Management LLC now owns 3,060 shares of the company’s stock valued at $789,000 after purchasing an additional 232 shares in the last quarter. Finally, 1834 Investment Advisors Co. raised its stake in shares of Constellation Brands by 10.2% during the 3rd quarter. 1834 Investment Advisors Co. now owns 1,586 shares of the company’s stock valued at $409,000 after purchasing an additional 147 shares during the period. 77.34% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Constellation Brands

In other Constellation Brands news, Director William T. Giles bought 1,000 shares of the company’s stock in a transaction dated Friday, January 17th. The shares were purchased at an average price of $186.39 per share, for a total transaction of $186,390.00. Following the acquisition, the director now owns 1,463 shares in the company, valued at approximately $272,688.57. This represents a 215.98 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 12.19% of the company’s stock.

Wall Street Analyst Weigh In

STZ has been the subject of several analyst reports. Morgan Stanley downgraded Constellation Brands from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $220.00 to $202.00 in a research note on Thursday, February 27th. StockNews.com upgraded shares of Constellation Brands from a “sell” rating to a “hold” rating in a research report on Thursday. Truist Financial decreased their target price on shares of Constellation Brands from $255.00 to $190.00 and set a “hold” rating on the stock in a report on Tuesday, January 14th. Royal Bank of Canada reissued an “outperform” rating and issued a $293.00 price target on shares of Constellation Brands in a report on Monday, February 3rd. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $203.00 price target (down previously from $262.00) on shares of Constellation Brands in a report on Monday, January 13th. Eleven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $253.43.

Constellation Brands Trading Up 0.9 %

STZ opened at $174.08 on Thursday. Constellation Brands, Inc. has a one year low of $160.46 and a one year high of $274.87. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.10 and a quick ratio of 0.46. The business has a 50 day simple moving average of $185.90 and a two-hundred day simple moving average of $222.14. The firm has a market capitalization of $31.46 billion, a price-to-earnings ratio of 46.79, a PEG ratio of 1.52 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last announced its earnings results on Friday, January 10th. The company reported $3.25 EPS for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.08). The business had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.53 billion. Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. Constellation Brands’s revenue was down .3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.19 EPS. Analysts predict that Constellation Brands, Inc. will post 13.5 EPS for the current year.

Constellation Brands Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 7th were issued a dividend of $1.01 per share. The ex-dividend date was Friday, February 7th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 2.32%. Constellation Brands’s dividend payout ratio (DPR) is 108.60%.

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.