Teamwork Financial Advisors LLC Trims Stake in Constellation Brands, Inc. (NYSE:STZ)

Teamwork Financial Advisors LLC trimmed its position in Constellation Brands, Inc. (NYSE:STZ) by 31.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,339 shares of the company’s stock after selling 602 shares during the quarter. Teamwork Financial Advisors LLC’s holdings in Constellation Brands were worth $296,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. State Street Corp lifted its stake in shares of Constellation Brands by 6.0% during the 3rd quarter. State Street Corp now owns 7,144,428 shares of the company’s stock worth $1,841,048,000 after purchasing an additional 402,211 shares during the last quarter. Janus Henderson Group PLC grew its position in shares of Constellation Brands by 1.2% in the 3rd quarter. Janus Henderson Group PLC now owns 1,853,081 shares of the company’s stock worth $477,515,000 after buying an additional 21,454 shares during the last quarter. Legal & General Group Plc raised its stake in shares of Constellation Brands by 5.7% during the 2nd quarter. Legal & General Group Plc now owns 1,335,976 shares of the company’s stock worth $343,717,000 after acquiring an additional 72,637 shares in the last quarter. International Assets Investment Management LLC lifted its position in Constellation Brands by 23,184.7% during the third quarter. International Assets Investment Management LLC now owns 499,689 shares of the company’s stock valued at $128,765,000 after acquiring an additional 497,543 shares during the last quarter. Finally, National Pension Service boosted its stake in Constellation Brands by 13.6% in the third quarter. National Pension Service now owns 381,755 shares of the company’s stock valued at $98,374,000 after acquiring an additional 45,707 shares in the last quarter. Institutional investors own 77.34% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $203.00 price target (down from $262.00) on shares of Constellation Brands in a research report on Monday, January 13th. Barclays decreased their price target on Constellation Brands from $282.00 to $214.00 and set an “overweight” rating for the company in a research note on Tuesday, January 14th. Roth Capital dropped their price target on Constellation Brands from $298.00 to $284.00 and set a “buy” rating on the stock in a research note on Friday, January 17th. Piper Sandler lowered their target price on shares of Constellation Brands from $300.00 to $245.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. Finally, BNP Paribas initiated coverage on shares of Constellation Brands in a research note on Monday, November 25th. They set a “neutral” rating and a $261.00 price target on the stock. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Constellation Brands has a consensus rating of “Moderate Buy” and an average price target of $259.05.

Constellation Brands Stock Down 2.2 %

Shares of STZ stock opened at $178.99 on Thursday. Constellation Brands, Inc. has a twelve month low of $176.51 and a twelve month high of $274.87. The stock has a market cap of $32.35 billion, a P/E ratio of 48.12, a P/E/G ratio of 1.61 and a beta of 0.91. The stock has a 50 day moving average of $223.36 and a 200 day moving average of $237.32. The company has a current ratio of 1.10, a quick ratio of 0.46 and a debt-to-equity ratio of 1.26.

Constellation Brands (NYSE:STZ) last posted its earnings results on Friday, January 10th. The company reported $3.25 earnings per share for the quarter, missing the consensus estimate of $3.33 by ($0.08). Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. The firm had revenue of $2.46 billion for the quarter, compared to analysts’ expectations of $2.53 billion. During the same period last year, the firm earned $3.19 earnings per share. Constellation Brands’s revenue for the quarter was down .3% compared to the same quarter last year. As a group, sell-side analysts expect that Constellation Brands, Inc. will post 13.52 EPS for the current year.

Constellation Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Friday, February 7th will be given a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date of this dividend is Friday, February 7th. Constellation Brands’s dividend payout ratio (DPR) is presently 108.60%.

Insider Activity at Constellation Brands

In other news, CEO William A. Newlands sold 7,426 shares of the business’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $237.24, for a total transaction of $1,761,744.24. Following the completion of the sale, the chief executive officer now owns 7,274 shares of the company’s stock, valued at $1,725,683.76. The trade was a 50.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Wildstar Partners Llc sold 660 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $241.00, for a total transaction of $159,060.00. Following the completion of the transaction, the insider now directly owns 1,736,884 shares in the company, valued at $418,589,044. This represents a 0.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 69,172 shares of company stock worth $16,778,841 in the last 90 days. Corporate insiders own 12.19% of the company’s stock.

About Constellation Brands

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.