SouthState Bank Corp Lowers Position in Constellation Brands Inc $STZ

SouthState Bank Corp decreased its holdings in shares of Constellation Brands Inc (NYSE:STZ) by 25.8% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 13,568 shares of the company’s stock after selling 4,712 shares during the period. SouthState Bank Corp’s holdings in Constellation Brands were worth $1,872,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Choreo LLC lifted its position in shares of Constellation Brands by 2.1% during the 4th quarter. Choreo LLC now owns 3,116 shares of the company’s stock valued at $437,000 after buying an additional 63 shares in the last quarter. Clearstead Trust LLC lifted its position in shares of Constellation Brands by 14.2% during the 4th quarter. Clearstead Trust LLC now owns 548 shares of the company’s stock valued at $76,000 after buying an additional 68 shares in the last quarter. Dynamic Advisor Solutions LLC lifted its position in shares of Constellation Brands by 2.2% during the 4th quarter. Dynamic Advisor Solutions LLC now owns 3,507 shares of the company’s stock valued at $484,000 after buying an additional 76 shares in the last quarter. Larson Financial Group LLC lifted its position in shares of Constellation Brands by 2.6% during the 4th quarter. Larson Financial Group LLC now owns 3,610 shares of the company’s stock valued at $498,000 after buying an additional 93 shares in the last quarter. Finally, Sigma Planning Corp lifted its position in shares of Constellation Brands by 4.0% during the 4th quarter. Sigma Planning Corp now owns 2,458 shares of the company’s stock valued at $325,000 after buying an additional 95 shares in the last quarter. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Insider Activity at Constellation Brands

In other news, EVP James O. Bourdeau sold 4,407 shares of Constellation Brands stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $143.24, for a total transaction of $631,258.68. Following the transaction, the executive vice president owned 9,109 shares in the company, valued at $1,304,773.16. The trade was a 32.61% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 12.45% of the stock is currently owned by corporate insiders.

Constellation Brands Trading Up 0.1%

Shares of STZ stock opened at $141.11 on Monday. The stock’s fifty day moving average is $150.69 and its two-hundred day moving average is $149.53. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.55 and a current ratio of 1.08. The firm has a market capitalization of $24.30 billion, a P/E ratio of 14.71, a PEG ratio of 3.26 and a beta of 0.39. Constellation Brands Inc has a fifty-two week low of $126.45 and a fifty-two week high of $178.13.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings data on Wednesday, April 8th. The company reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.71 by $0.19. The company 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 firm’s revenue for the quarter was down 11.3% on a year-over-year basis. During the same quarter last year, the firm posted $2.63 EPS. Research analysts expect that Constellation Brands Inc will post 11.87 earnings per share for the current fiscal year.

Constellation Brands Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Wednesday, April 29th were issued a dividend of $1.03 per share. The ex-dividend date was Wednesday, April 29th. This represents a $4.12 annualized dividend and a dividend yield of 2.9%. This is a boost from Constellation Brands’s previous quarterly dividend of $1.02. Constellation Brands’s payout ratio is presently 42.96%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on STZ. Wells Fargo & Company increased their target price on Constellation Brands from $180.00 to $185.00 and gave the company an “overweight” rating in a research report on Friday, April 10th. Roth Mkm reiterated a “buy” rating on shares of Constellation Brands in a research note on Thursday, April 9th. Evercore set a $175.00 price objective on Constellation Brands and gave the stock an “outperform” rating in a research note on Friday, April 10th. UBS Group boosted their price objective on Constellation Brands from $176.00 to $186.00 and gave the stock a “buy” rating in a research note on Friday, April 10th. Finally, Needham & Company LLC raised their price objective on Constellation Brands from $180.00 to $185.00 and gave the company a “buy” rating in a report on Friday, April 10th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $175.26.

About Constellation Brands

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.