Crestwood Advisors Group LLC Cuts Stock Holdings in Constellation Brands Inc $STZ

Crestwood Advisors Group LLC decreased its stake in shares of Constellation Brands Inc (NYSE:STZ) by 38.3% during the 4th quarter, Holdings Channel reports. The institutional investor owned 36,347 shares of the company’s stock after selling 22,543 shares during the period. Crestwood Advisors Group LLC’s holdings in Constellation Brands were worth $5,015,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Oppenheimer Asset Management Inc. lifted its holdings in Constellation Brands by 329.8% during the third quarter. Oppenheimer Asset Management Inc. now owns 73,323 shares of the company’s stock worth $9,874,000 after acquiring an additional 56,263 shares during the period. Bayforest Capital Ltd lifted its holdings in Constellation Brands by 5,810.2% during the third quarter. Bayforest Capital Ltd now owns 6,974 shares of the company’s stock worth $939,000 after acquiring an additional 6,856 shares during the period. Hudson Edge Investment Partners Inc. lifted its holdings in Constellation Brands by 22.7% during the third quarter. Hudson Edge Investment Partners Inc. now owns 35,316 shares of the company’s stock worth $4,756,000 after acquiring an additional 6,542 shares during the period. Nordea Investment Management AB lifted its holdings in Constellation Brands by 6.1% during the fourth quarter. Nordea Investment Management AB now owns 867,776 shares of the company’s stock worth $120,300,000 after acquiring an additional 49,625 shares during the period. Finally, Arlington Partners LLC lifted its holdings in Constellation Brands by 146.9% during the third quarter. Arlington Partners LLC now owns 35,407 shares of the company’s stock worth $4,768,000 after acquiring an additional 21,067 shares during the period. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Constellation Brands Stock Performance

Shares of STZ opened at $148.00 on Friday. The firm has a market cap of $25.49 billion, a PE ratio of 15.43, a PEG ratio of 3.30 and a beta of 0.43. The stock’s fifty day moving average price is $154.20 and its two-hundred day moving average price is $147.99. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.08 and a quick ratio of 0.55. Constellation Brands Inc has a 1 year low of $126.45 and a 1 year high of $196.91.

Constellation Brands (NYSE:STZ) last issued its earnings results on Wednesday, April 8th. The company reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.71 by $0.19. The firm had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.84 billion. Constellation Brands had a return on equity of 26.18% and a net margin of 17.29%.The business’s revenue was down 11.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.63 earnings per share. On average, equities research analysts forecast that Constellation Brands Inc will post 11.9 EPS for the current year.

Constellation Brands Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 14th. Investors of record on Wednesday, April 29th will be paid a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Wednesday, April 29th. This is a positive change from Constellation Brands’s previous quarterly dividend of $1.02. Constellation Brands’s dividend payout ratio is presently 42.96%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on STZ shares. Sanford C. Bernstein lifted their price target on Constellation Brands from $195.00 to $197.00 and gave the stock an “outperform” rating in a report on Friday, January 9th. Royal Bank Of Canada restated an “outperform” rating and issued a $185.00 target price on shares of Constellation Brands in a research note on Friday, April 10th. Citigroup restated a “buy” rating on shares of Constellation Brands in a research note on Friday, April 10th. Barclays boosted their target price on Constellation Brands from $151.00 to $170.00 and gave the company an “equal weight” rating in a research note on Friday, April 10th. Finally, Piper Sandler boosted their target price on Constellation Brands from $146.00 to $160.00 and gave the company a “neutral” rating in a research note on Friday, April 10th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $176.30.

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.