Moody National Bank Trust Division Cuts Position in Constellation Brands, Inc. (NYSE:STZ)

Moody National Bank Trust Division trimmed its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 5.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 6,927 shares of the company’s stock after selling 380 shares during the period. Moody National Bank Trust Division’s holdings in Constellation Brands were worth $1,531,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in STZ. Wedmont Private Capital raised its stake in Constellation Brands by 32.8% during the fourth quarter. Wedmont Private Capital now owns 2,671 shares of the company’s stock valued at $590,000 after buying an additional 660 shares during the last quarter. Brookstone Capital Management increased its holdings in shares of Constellation Brands by 5.8% during the fourth quarter. Brookstone Capital Management now owns 16,654 shares of the company’s stock valued at $3,681,000 after acquiring an additional 920 shares in the last quarter. Crescent Sterling Ltd. raised its position in shares of Constellation Brands by 28.1% in the 4th quarter. Crescent Sterling Ltd. now owns 5,747 shares of the company’s stock worth $1,270,000 after purchasing an additional 1,259 shares during the last quarter. Czech National Bank boosted its stake in Constellation Brands by 6.1% in the 4th quarter. Czech National Bank now owns 33,851 shares of the company’s stock worth $7,481,000 after purchasing an additional 1,933 shares in the last quarter. Finally, Jacobs & Co. CA grew its position in Constellation Brands by 4.2% during the 4th quarter. Jacobs & Co. CA now owns 39,189 shares of the company’s stock valued at $8,660,000 after purchasing an additional 1,564 shares during the last quarter. 77.34% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $280.00 target price on shares of Constellation Brands in a report on Friday. Evercore ISI cut their target price on Constellation Brands from $300.00 to $250.00 and set an “outperform” rating on the stock in a research note on Monday. JPMorgan Chase & Co. restated a “neutral” rating and issued a $203.00 price target (down previously from $262.00) on shares of Constellation Brands in a research note on Monday. TD Cowen reduced their price objective on Constellation Brands from $270.00 to $260.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. Finally, Piper Sandler lowered their target price on shares of Constellation Brands from $300.00 to $245.00 and set an “overweight” rating on the stock in a research note on Monday. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $268.05.

Constellation Brands Stock Performance

NYSE:STZ opened at $185.84 on Tuesday. The stock has a 50-day moving average price of $230.80 and a 200 day moving average price of $240.79. The stock has a market capitalization of $33.74 billion, a P/E ratio of 60.14, a P/E/G ratio of 1.69 and a beta of 1.75. Constellation Brands, Inc. has a 12-month low of $176.51 and a 12-month high of $274.87. The company has a current ratio of 1.25, a quick ratio of 0.53 and a debt-to-equity ratio of 1.31.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings data on Friday, January 10th. The company reported $3.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $2.53 billion. During the same period last year, the business earned $3.19 earnings per share. The company’s quarterly revenue was down .3% compared to the same quarter last year. Equities research analysts forecast that Constellation Brands, Inc. will post 13.57 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Friday, February 7th will be issued a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a dividend yield of 2.17%. The ex-dividend date is Friday, February 7th. Constellation Brands’s dividend payout ratio (DPR) is presently 130.74%.

Insider Activity

In other news, Director Robert Sands sold 119,274 shares of the company’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $242.37, for a total transaction of $28,908,439.38. Following the sale, the director now directly owns 431,729 shares in the company, valued at approximately $104,638,157.73. This represents a 21.65 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William A. Newlands sold 7,426 shares of Constellation Brands stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $237.24, for a total value of $1,761,744.24. Following the completion of the transaction, the chief executive officer now owns 7,274 shares of the company’s stock, valued at approximately $1,725,683.76. This represents a 50.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 188,446 shares of company stock worth $45,687,281 over the last 90 days. Corporate insiders own 12.19% of the company’s stock.

Constellation Brands Company Profile

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.