7,769 Constellation Brands Inc $STZ Shares Sold by Confluence Investment Management LLC

Confluence Investment Management LLC lowered its position in shares of Constellation Brands Inc (NYSE:STZ) by 4.9% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 151,797 shares of the company’s stock after selling 7,769 shares during the period. Confluence Investment Management LLC’s holdings in Constellation Brands were worth $17,162,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. HB Wealth Management LLC increased its position in shares of Constellation Brands by 0.7% in the first quarter. HB Wealth Management LLC now owns 10,795 shares of the company’s stock valued at $1,619,000 after acquiring an additional 72 shares during the period. Chicago Partners Investment Group LLC grew its stake in shares of Constellation Brands by 4.3% in the first quarter. Chicago Partners Investment Group LLC now owns 1,888 shares of the company’s stock worth $296,000 after purchasing an additional 77 shares during the last quarter. Rexford Capital Inc. grew its stake in shares of Constellation Brands by 4.0% in the first quarter. Rexford Capital Inc. now owns 2,072 shares of the company’s stock worth $311,000 after purchasing an additional 79 shares during the last quarter. Keybank National Association OH increased its holdings in Constellation Brands by 4.0% during the 1st quarter. Keybank National Association OH now owns 2,338 shares of the company’s stock valued at $351,000 after purchasing an additional 90 shares during the period. Finally, Banque Cantonale Vaudoise increased its holdings in Constellation Brands by 3.6% during the 1st quarter. Banque Cantonale Vaudoise now owns 2,643 shares of the company’s stock valued at $397,000 after purchasing an additional 93 shares during the period. Institutional investors own 77.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on STZ. Evercore set a $160.00 price objective on Constellation Brands in a report on Monday, September 21st. Piper Sandler restated a “neutral” rating and set a $160.00 target price on shares of Constellation Brands in a report on Wednesday, July 1st. TD Cowen dropped their price target on Constellation Brands from $174.00 to $150.00 and set a “buy” rating for the company in a research note on Thursday, September 17th. Citigroup cut their price target on shares of Constellation Brands from $185.00 to $165.00 and set a “buy” rating on the stock in a report on Tuesday, September 22nd. Finally, Sanford C. Bernstein reduced their price objective on shares of Constellation Brands from $197.00 to $180.00 and set an “outperform” rating on the stock in a research report on Monday. Twelve research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $159.33.

Constellation Brands Stock Up 0.2%

Shares of NYSE:STZ traded up $0.17 during trading on Thursday, hitting $113.23. The stock had a trading volume of 469,650 shares, compared to its average volume of 2,213,986. Constellation Brands Inc has a 12 month low of $111.54 and a 12 month high of $168.60. The company has a market capitalization of $19.34 billion, a PE ratio of 10.77, a PEG ratio of 2.24 and a beta of 0.41. The firm’s fifty day moving average is $127.63 and its 200 day moving average is $139.70. The company has a quick ratio of 0.48, a current ratio of 0.91 and a debt-to-equity ratio of 1.06.

Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Tuesday, June 30th. The company reported $3.43 earnings per share for the quarter, missing the consensus estimate of $3.70 by ($0.27). The firm had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.39 billion. Constellation Brands had a net margin of 18.87% and a return on equity of 25.58%. The company’s revenue for the quarter was down 3.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.22 earnings per share. Analysts anticipate that Constellation Brands Inc will post 11.81 EPS for the current fiscal year.

About Constellation Brands

Constellation Brands, Inc is a beverage alcohol company that develops, markets and distributes beer, wine and spirits. Its portfolio includes well-known beer brands such as Modelo Especial, Corona Extra, Corona Light and Pacifico, along with wine brands including Robert Mondavi, Kim Crawford, Meiomi, The Prisoner Wine Company and Ruffino.

The company also offers spirits through brands such as Casa Noble tequila and High West whiskey. Constellation’s products are sold through retailers, distributors, restaurants and other on-premise locations, with a primary focus on the United States.