Thrivent Financial for Lutherans Acquires 239 Shares of Constellation Brands, Inc. (NYSE:STZ)

Thrivent Financial for Lutherans grew its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 3.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 7,580 shares of the company’s stock after purchasing an additional 239 shares during the period. Thrivent Financial for Lutherans’ holdings in Constellation Brands were worth $1,697,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of STZ. Glenmede Trust Co. NA lifted its holdings in shares of Constellation Brands by 16.5% during the 3rd quarter. Glenmede Trust Co. NA now owns 3,908 shares of the company’s stock worth $1,007,000 after acquiring an additional 554 shares during the last quarter. CreativeOne Wealth LLC purchased a new position in shares of Constellation Brands in the 3rd quarter worth about $565,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Constellation Brands by 12.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 80,025 shares of the company’s stock valued at $20,622,000 after purchasing an additional 9,154 shares during the last quarter. Fiduciary Trust Co raised its holdings in shares of Constellation Brands by 2.4% during the 3rd quarter. Fiduciary Trust Co now owns 5,231 shares of the company’s stock valued at $1,348,000 after buying an additional 123 shares in the last quarter. Finally, Public Sector Pension Investment Board boosted its stake in Constellation Brands by 3.5% in the third quarter. Public Sector Pension Investment Board now owns 5,904 shares of the company’s stock worth $1,521,000 after buying an additional 200 shares in the last quarter. 77.34% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on STZ. Evercore ISI lowered their price objective on shares of Constellation Brands from $300.00 to $250.00 and set an “outperform” rating for the company in a report on Monday, January 13th. Wells Fargo & Company cut their price target on shares of Constellation Brands from $295.00 to $275.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Roth Capital lowered their target price on Constellation Brands from $298.00 to $284.00 and set a “buy” rating for the company in a research note on Friday, January 17th. StockNews.com lowered Constellation Brands from a “hold” rating to a “sell” rating in a research report on Friday, March 14th. Finally, Truist Financial dropped their price objective on Constellation Brands from $255.00 to $190.00 and set a “hold” rating for the company in a research note on Tuesday, January 14th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $249.18.

Constellation Brands Price Performance

Shares of STZ opened at $183.69 on Friday. Constellation Brands, Inc. has a fifty-two week low of $160.46 and a fifty-two week high of $274.87. The firm’s 50-day simple moving average is $177.19 and its two-hundred day simple moving average is $214.74. The stock has a market cap of $33.20 billion, a PE ratio of 49.38, a price-to-earnings-growth ratio of 1.52 and a beta of 1.75. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.46 and a current ratio of 1.10.

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 6.27% and a return on equity of 26.55%. The company had revenue of $2.46 billion for the quarter, compared to analysts’ expectations of $2.53 billion. During the same quarter in the previous year, the firm posted $3.19 EPS. The firm’s quarterly revenue was down .3% compared to the same quarter last year. Analysts anticipate that Constellation Brands, Inc. will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 7th were issued a $1.01 dividend. The ex-dividend date was Friday, February 7th. This represents a $4.04 annualized dividend and a yield of 2.20%. Constellation Brands’s dividend payout ratio (DPR) is presently 108.60%.

Insider Transactions at Constellation Brands

In other Constellation Brands news, Director William T. Giles acquired 1,000 shares of the stock in a transaction that occurred on Friday, January 17th. The shares were acquired at an average cost of $186.39 per share, with a total value of $186,390.00. Following the transaction, the director now owns 1,463 shares of the company’s stock, valued at $272,688.57. The trade was a 215.98 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 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.