Truist Financial Corp Sells 14,180 Shares of Constellation Brands Inc $STZ

Truist Financial Corp trimmed its position in shares of Constellation Brands Inc (NYSE:STZ) by 40.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 20,892 shares of the company’s stock after selling 14,180 shares during the period. Truist Financial Corp’s holdings in Constellation Brands were worth $2,882,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Constellation Brands by 3.3% during the third quarter. Vanguard Group Inc. now owns 18,202,611 shares of the company’s stock worth $2,451,346,000 after purchasing an additional 573,766 shares during the period. Capital International Investors raised its position in shares of Constellation Brands by 0.7% during the third quarter. Capital International Investors now owns 4,337,054 shares of the company’s stock worth $584,135,000 after purchasing an additional 28,036 shares during the period. Grantham Mayo Van Otterloo & Co. LLC raised its position in shares of Constellation Brands by 1.0% during the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 3,710,940 shares of the company’s stock worth $499,752,000 after purchasing an additional 35,085 shares during the period. Ameriprise Financial Inc. raised its position in shares of Constellation Brands by 76.7% during the third quarter. Ameriprise Financial Inc. now owns 3,126,644 shares of the company’s stock worth $421,059,000 after purchasing an additional 1,356,903 shares during the period. Finally, Van ECK Associates Corp raised its position in shares of Constellation Brands by 15.5% during the third quarter. Van ECK Associates Corp now owns 2,160,202 shares of the company’s stock worth $290,915,000 after purchasing an additional 290,701 shares during the period. 77.34% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. JPMorgan Chase & Co. increased their price target on Constellation Brands from $155.00 to $163.00 and gave the company a “neutral” rating in a research report on Wednesday, April 1st. Deutsche Bank Aktiengesellschaft increased their price target on Constellation Brands from $154.00 to $155.00 and gave the company a “hold” rating in a research report on Friday, April 10th. Weiss Ratings reissued a “hold (c-)” rating on shares of Constellation Brands in a research report on Monday, May 4th. Bank of America increased their price target on Constellation Brands from $142.00 to $154.00 and gave the company an “underperform” rating in a research report on Friday, April 10th. Finally, Barclays increased their price target on Constellation Brands from $151.00 to $170.00 and gave the company an “equal weight” rating in a research report on Friday, April 10th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $176.30.

Constellation Brands Stock Up 0.2%

Shares of NYSE STZ opened at $142.71 on Wednesday. Constellation Brands Inc has a 52 week low of $126.45 and a 52 week high of $196.91. The business has a 50-day simple moving average of $153.48 and a two-hundred day simple moving average of $148.06. The company has a quick ratio of 0.55, a current ratio of 1.08 and a debt-to-equity ratio of 1.16. The company has a market cap of $24.58 billion, a P/E ratio of 14.88, a P/E/G ratio of 3.12 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last issued its earnings results on Wednesday, April 8th. The company reported $1.90 EPS for the quarter, topping the consensus estimate of $1.71 by $0.19. The business had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.84 billion. Constellation Brands had a return on equity of 26.18% and a net margin of 17.29%.The firm’s revenue was down 11.3% compared to the same quarter last year. During the same quarter last year, the company earned $2.63 EPS. Research analysts anticipate that Constellation Brands Inc will post 11.9 earnings per share for the current fiscal year.

Constellation Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 14th. Investors of record on Wednesday, April 29th will be issued a dividend of $1.03 per share. The ex-dividend date of this dividend is Wednesday, April 29th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.9%. This is a positive change from Constellation Brands’s previous quarterly dividend of $1.02. Constellation Brands’s payout ratio is 42.96%.

Constellation Brands Profile

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.