Douglas Lane & Associates LLC Sells 67,180 Shares of Constellation Brands Inc $STZ

Douglas Lane & Associates LLC trimmed its stake in Constellation Brands Inc (NYSE:STZ) by 68.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 30,259 shares of the company’s stock after selling 67,180 shares during the period. Douglas Lane & Associates LLC’s holdings in Constellation Brands were worth $4,075,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Gilbert & Cook Inc. lifted its stake in Constellation Brands by 2.6% in the second quarter. Gilbert & Cook Inc. now owns 2,385 shares of the company’s stock worth $388,000 after purchasing an additional 60 shares during the last quarter. V Square Quantitative Management LLC grew its holdings in Constellation Brands by 3.8% in the 2nd quarter. V Square Quantitative Management LLC now owns 1,682 shares of the company’s stock worth $274,000 after acquiring an additional 62 shares during the last quarter. Oak Asset Management LLC raised its stake in shares of Constellation Brands by 0.4% during the second quarter. Oak Asset Management LLC now owns 18,281 shares of the company’s stock valued at $2,974,000 after acquiring an additional 70 shares during the last quarter. Geneos Wealth Management Inc. boosted its holdings in shares of Constellation Brands by 9.9% during the first quarter. Geneos Wealth Management Inc. now owns 813 shares of the company’s stock worth $149,000 after purchasing an additional 73 shares during the period. Finally, Rise Advisors LLC boosted its holdings in shares of Constellation Brands by 8.8% during the third quarter. Rise Advisors LLC now owns 937 shares of the company’s stock worth $126,000 after purchasing an additional 76 shares during the period. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on STZ. The Goldman Sachs Group reduced their price target on shares of Constellation Brands from $196.00 to $168.00 and set a “buy” rating on the stock in a research report on Thursday, October 2nd. Piper Sandler dropped their target price on shares of Constellation Brands from $155.00 to $135.00 and set a “neutral” rating on the stock in a research note on Friday, November 21st. Wells Fargo & Company dropped their price objective on Constellation Brands from $170.00 to $155.00 and set an “overweight” rating on the stock in a research report on Thursday, September 25th. BNP Paribas downgraded shares of Constellation Brands from a “hold” rating to a “strong sell” rating in a research report on Wednesday, September 3rd. Finally, Roth Capital reaffirmed a “buy” rating and set a $209.00 price target (down previously from $239.00) on shares of Constellation Brands in a research report on Wednesday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, ten have given a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, Constellation Brands currently has an average rating of “Hold” and a consensus target price of $181.96.

Constellation Brands Trading Down 1.3%

STZ opened at $134.96 on Monday. Constellation Brands Inc has a 12 month low of $126.45 and a 12 month high of $229.07. The company has a current ratio of 1.08, a quick ratio of 0.54 and a debt-to-equity ratio of 1.26. The stock has a 50-day moving average of $136.23 and a 200 day moving average of $150.88. The firm has a market cap of $23.62 billion, a P/E ratio of 19.70, a P/E/G ratio of 0.41 and a beta of 0.46.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings data on Thursday, February 23rd. The company reported $3.12 earnings per share for the quarter. Constellation Brands had a net margin of 11.88% and a return on equity of 29.82%. The business had revenue of $2.32 billion for the quarter. As a group, research analysts forecast that Constellation Brands Inc will post 13.5 EPS for the current year.

Constellation Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 13th. Stockholders of record on Thursday, October 30th were given a $1.02 dividend. This represents a $4.08 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend was Thursday, October 30th. Constellation Brands’s dividend payout ratio is presently 59.56%.

About Constellation Brands

Constellation Brands, Inc is a leading producer and marketer of beer, wine and spirits, with operations spanning production, importation, marketing and distribution. The company’s beverage portfolio includes a range of premium and mainstream wines and spirits alongside major imported beer brands; in the U.S. market Constellation is widely known for its role in bringing Mexican imports such as Corona and Modelo to American consumers. Constellation supplies retail, on‑premise and foodservice channels and supports its brands with national sales and marketing platforms and supply‑chain capabilities.

The company traces its roots to the Canandaigua Wine Company, founded by Marvin Sands in 1945, and evolved through organic growth and acquisition into a diversified beverage company.