Gateway Investment Advisers LLC Decreases Stake in Constellation Brands, Inc. (NYSE:STZ)

Gateway Investment Advisers LLC decreased its position in shares of Constellation Brands, Inc. (NYSE:STZFree Report) by 8.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,281 shares of the company’s stock after selling 219 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Constellation Brands were worth $504,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Versant Capital Management Inc grew its position in Constellation Brands by 887.5% during the 4th quarter. Versant Capital Management Inc now owns 158 shares of the company’s stock worth $35,000 after purchasing an additional 142 shares during the period. Eastern Bank acquired a new stake in Constellation Brands during the third quarter worth about $39,000. FSA Wealth Management LLC acquired a new stake in Constellation Brands during the third quarter worth about $42,000. Truvestments Capital LLC purchased a new position in Constellation Brands during the third quarter valued at approximately $60,000. Finally, Continuum Advisory LLC lifted its holdings in Constellation Brands by 68.0% in the third quarter. Continuum Advisory LLC now owns 252 shares of the company’s stock valued at $61,000 after acquiring an additional 102 shares during the period. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on STZ shares. Needham & Company LLC reiterated a “buy” rating and issued a $280.00 target price on shares of Constellation Brands in a research note on Friday, January 10th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $203.00 price objective (down previously from $262.00) on shares of Constellation Brands in a research report on Monday, January 13th. Piper Sandler dropped their target price on Constellation Brands from $300.00 to $245.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. Truist Financial cut their price target on Constellation Brands from $255.00 to $190.00 and set a “hold” rating for the company in a research note on Tuesday, January 14th. Finally, Roth Mkm reiterated a “buy” rating and set a $298.00 price target on shares of Constellation Brands in a research report on Friday, October 4th. One analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, Constellation Brands has a consensus rating of “Moderate Buy” and an average price target of $259.05.

View Our Latest Analysis on STZ

Constellation Brands Price Performance

STZ stock opened at $184.05 on Friday. Constellation Brands, Inc. has a 1 year low of $176.51 and a 1 year high of $274.87. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.25 and a quick ratio of 0.53. The firm has a market capitalization of $33.42 billion, a PE ratio of 49.48, a price-to-earnings-growth ratio of 1.28 and a beta of 0.91. The business has a 50 day simple moving average of $226.75 and a 200-day simple moving average of $238.96.

Constellation Brands (NYSE:STZGet Free Report) last issued its earnings results on Friday, January 10th. The company reported $3.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.33 by ($0.08). Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. The company had revenue of $2.46 billion during the quarter, compared to analysts’ expectations of $2.53 billion. During the same quarter in the previous year, the company earned $3.19 earnings per share. The firm’s quarterly revenue was down .3% compared to the same quarter last year. Equities research analysts anticipate that Constellation Brands, Inc. will post 13.72 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Friday, February 7th will be issued a $1.01 dividend. The ex-dividend date is Friday, February 7th. This represents a $4.04 annualized dividend and a yield of 2.20%. Constellation Brands’s payout ratio is 108.60%.

Insider Activity

In other news, major shareholder Wildstar Partners Llc sold 660 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $241.00, for a total value of $159,060.00. Following the transaction, the insider now owns 1,736,884 shares of the company’s stock, valued at $418,589,044. This represents a 0.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO William A. Newlands sold 25,000 shares of the stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $243.58, for a total value of $6,089,500.00. Following the transaction, the chief executive officer now owns 7,274 shares of the company’s stock, valued at approximately $1,771,800.92. This represents a 77.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 69,172 shares of company stock valued at $16,778,841 in the last 90 days. Company insiders own 12.19% of the company’s stock.

Constellation Brands Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Constellation Brands (NYSE:STZ)

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