Natixis Advisors L.P. Lowers Position in Constellation Brands, Inc. (NYSE:STZ)

Posted by on Apr 11th, 2023

Natixis Advisors L.P. lowered its stake in shares of Constellation Brands, Inc. (NYSE:STZ – Get Rating) by 16.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 84,360 shares of the company’s stock after selling 17,116 shares during the period. Natixis Advisors L.P.’s holdings in Constellation Brands were worth $19,550,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. City Holding Co. boosted its holdings in Constellation Brands by 3.1% in the fourth quarter. City Holding Co. now owns 12,212 shares of the company’s stock valued at $2,830,000 after acquiring an additional 370 shares during the last quarter. Ballentine Partners LLC increased its position in Constellation Brands by 7.1% during the 4th quarter. Ballentine Partners LLC now owns 2,513 shares of the company’s stock worth $582,000 after purchasing an additional 166 shares in the last quarter. State of Michigan Retirement System raised its holdings in Constellation Brands by 2.3% in the fourth quarter. State of Michigan Retirement System now owns 44,158 shares of the company’s stock valued at $10,234,000 after buying an additional 1,000 shares during the period. BDO Wealth Advisors LLC lifted its position in Constellation Brands by 2.3% during the fourth quarter. BDO Wealth Advisors LLC now owns 7,058 shares of the company’s stock valued at $1,636,000 after buying an additional 157 shares in the last quarter. Finally, Hartford Funds Management Co LLC grew its stake in Constellation Brands by 36.9% during the fourth quarter. Hartford Funds Management Co LLC now owns 1,537 shares of the company’s stock worth $356,000 after buying an additional 414 shares during the period. Institutional investors and hedge funds own 84.87% of the company’s stock.

Constellation Brands Trading Down 0.0 %

NYSE:STZ opened at $224.60 on Tuesday. The firm has a market capitalization of $41.45 billion, a P/E ratio of -440.38, a P/E/G ratio of 2.08 and a beta of 1.03. The business has a 50 day simple moving average of $222.61 and a 200 day simple moving average of $230.88. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.18 and a quick ratio of 0.63. Constellation Brands, Inc. has a 12-month low of $208.12 and a 12-month high of $261.52.

Constellation Brands (NYSE:STZ – Get Rating) last issued its quarterly earnings data on Thursday, April 6th. The company reported $1.98 earnings per share for the quarter, beating the consensus estimate of $1.86 by $0.12. The firm had revenue of $2 billion for the quarter, compared to the consensus estimate of $2.02 billion. Constellation Brands had a negative net margin of 0.70% and a positive return on equity of 20.48%. Constellation Brands’s quarterly revenue was down 11.9% compared to the same quarter last year. During the same period last year, the firm posted $2.37 EPS. Equities research analysts predict that Constellation Brands, Inc. will post 11.77 EPS for the current year.

Constellation Brands Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 18th. Stockholders of record on Thursday, May 4th will be paid a $0.89 dividend. This is a boost from Constellation Brands’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Wednesday, May 3rd. This represents a $3.56 annualized dividend and a dividend yield of 1.59%. Constellation Brands’s dividend payout ratio is presently -627.44%.

Wall Street Analyst Weigh In

Several research analysts have commented on STZ shares. BMO Capital Markets cut their price objective on Constellation Brands from $290.00 to $265.00 and set an “outperform” rating on the stock in a research report on Friday, January 6th. Cowen cut Constellation Brands from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $275.00 to $200.00 in a report on Friday, January 6th. StockNews.com began coverage on shares of Constellation Brands in a research note on Thursday, March 16th. They set a “hold” rating on the stock. Roth Capital restated a “neutral” rating on shares of Constellation Brands in a research note on Wednesday, February 22nd. Finally, Truist Financial boosted their price objective on shares of Constellation Brands from $215.00 to $220.00 in a report on Monday. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $251.88.

About Constellation Brands

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Constellation Brands, Inc engages in the production, marketing, and distribution of beer, wine, and spirits. It operates through the following segments: Beer, Wine and Spirits, and Corporate Operations and Other, and Canopy. The Beer segment includes imported and craft beer brands. The Wine and Spirits segment sells wine brands across all categories-table wine, sparkling wine, and dessert wine-and across all price points.

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Institutional Ownership by Quarter for Constellation Brands (NYSE:STZ)

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