Constellation Brands, Inc. (NYSE:STZ) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. trimmed its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 0.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 60,744 shares of the company’s stock after selling 110 shares during the quarter. Victory Capital Management Inc.’s holdings in Constellation Brands were worth $13,424,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Mainstream Capital Management LLC bought a new position in Constellation Brands during the fourth quarter valued at about $25,000. Charles Schwab Investment Management Inc. lifted its holdings in Constellation Brands by 2.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,782,964 shares of the company’s stock valued at $394,035,000 after acquiring an additional 38,786 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its position in shares of Constellation Brands by 5.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 15,682 shares of the company’s stock valued at $3,466,000 after purchasing an additional 821 shares in the last quarter. Meridian Wealth Management LLC grew its stake in shares of Constellation Brands by 7.0% in the 4th quarter. Meridian Wealth Management LLC now owns 1,825 shares of the company’s stock worth $403,000 after purchasing an additional 120 shares during the last quarter. Finally, Mission Wealth Management LP bought a new stake in shares of Constellation Brands in the 4th quarter worth approximately $204,000. 77.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Needham & Company LLC restated a “buy” rating and set a $240.00 target price on shares of Constellation Brands in a report on Monday, January 27th. Argus lowered Constellation Brands from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. UBS Group cut their target price on Constellation Brands from $265.00 to $223.00 and set a “buy” rating on the stock in a research report on Friday, January 17th. 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 report on Tuesday, January 14th. Finally, Morgan Stanley lowered shares of Constellation Brands from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $220.00 to $202.00 in a research note on Thursday, February 27th. Eleven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $253.24.

Constellation Brands Price Performance

NYSE STZ opened at $183.95 on Thursday. The company has a 50 day moving average price of $182.22 and a two-hundred day moving average price of $220.07. Constellation Brands, Inc. has a 12-month low of $160.46 and a 12-month high of $274.87. The stock has a market capitalization of $33.24 billion, a PE ratio of 49.45, a price-to-earnings-growth ratio of 1.52 and a beta of 1.75. The company has a quick ratio of 0.46, a current ratio of 1.10 and a debt-to-equity ratio of 1.26.

Constellation Brands (NYSE:STZ) last issued 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 return on equity of 26.55% and a net margin of 6.27%. The business had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.53 billion. During the same quarter in the prior year, the company posted $3.19 earnings per share. The company’s revenue for the quarter was down .3% on a year-over-year basis. As a group, equities analysts predict that Constellation Brands, Inc. will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 7th were paid a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date was Friday, February 7th. Constellation Brands’s payout ratio is 108.60%.

Insider Buying and Selling

In other news, Director William T. Giles acquired 1,000 shares of the firm’s stock in a transaction that occurred on Friday, January 17th. The stock was acquired at an average cost of $186.39 per share, with a total value of $186,390.00. Following the acquisition, the director now owns 1,463 shares in the company, valued at approximately $272,688.57. This represents a 215.98 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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.