Bragg Financial Advisors Inc Reduces Stock Holdings in Constellation Brands, Inc. (NYSE:STZ)

Bragg Financial Advisors Inc cut its holdings in Constellation Brands, Inc. (NYSE:STZ) by 6.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,879 shares of the company’s stock after selling 125 shares during the quarter. Bragg Financial Advisors Inc’s holdings in Constellation Brands were worth $415,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Mainstream Capital Management LLC purchased a new stake in shares of Constellation Brands during the fourth quarter valued at $25,000. SBI Securities Co. Ltd. purchased a new stake in Constellation Brands during the 4th quarter valued at about $26,000. Compagnie Lombard Odier SCmA acquired a new position in shares of Constellation Brands in the fourth quarter valued at about $27,000. Union Bancaire Privee UBP SA purchased a new position in shares of Constellation Brands in the fourth quarter worth about $28,000. Finally, Versant Capital Management Inc lifted its holdings in shares of Constellation Brands by 887.5% during the fourth quarter. Versant Capital Management Inc now owns 158 shares of the company’s stock worth $35,000 after purchasing an additional 142 shares during the period. Institutional investors and hedge funds own 77.34% of the company’s stock.

Constellation Brands Stock Up 1.0 %

Shares of NYSE STZ opened at $187.41 on Tuesday. Constellation Brands, Inc. has a 52-week low of $160.46 and a 52-week high of $265.70. The company has a quick ratio of 0.46, a current ratio of 1.10 and a debt-to-equity ratio of 1.26. The company’s 50-day simple moving average is $177.15 and its 200-day simple moving average is $208.21. The firm has a market cap of $33.87 billion, a price-to-earnings ratio of 50.38, a price-to-earnings-growth ratio of 1.52 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings data on Wednesday, April 9th. The company reported $2.63 EPS for the quarter, topping the consensus estimate of $2.28 by $0.35. The company had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.14 billion. Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. Constellation Brands’s quarterly revenue was up 1.2% on a year-over-year basis. During the same period in the previous year, the business earned $2.26 EPS. Equities analysts predict that Constellation Brands, Inc. will post 13.5 EPS for the current fiscal year.

Constellation Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 29th will be issued a $1.02 dividend. The ex-dividend date of this dividend is Tuesday, April 29th. This represents a $4.08 dividend on an annualized basis and a yield of 2.18%. This is a positive change from Constellation Brands’s previous quarterly dividend of $1.01. Constellation Brands’s dividend payout ratio (DPR) is presently -792.16%.

Insiders Place Their Bets

In other Constellation Brands news, Director William T. Giles purchased 1,000 shares of the firm’s stock in a transaction dated Friday, January 17th. The shares were purchased at an average cost of $186.39 per share, with a total value of $186,390.00. Following the completion of the purchase, the director now owns 1,463 shares in the company, valued at approximately $272,688.57. This represents a 215.98 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 12.19% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

STZ has been the subject of a number of recent research reports. UBS Group reduced their price target on shares of Constellation Brands from $265.00 to $223.00 and set a “buy” rating for the company in a research report on Friday, January 17th. The Goldman Sachs Group lowered their price target on shares of Constellation Brands from $260.00 to $225.00 and set a “buy” rating on the stock in a report on Friday. Morgan Stanley reduced their price objective on Constellation Brands from $202.00 to $195.00 and set an “equal weight” rating for the company in a research note on Friday. Needham & Company LLC restated a “buy” rating and issued a $215.00 target price on shares of Constellation Brands in a research note on Thursday, April 10th. Finally, Evercore ISI reduced their price target on Constellation Brands from $300.00 to $250.00 and set an “outperform” rating for the company in a research report on Monday, January 13th. Eleven research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, Constellation Brands presently has a consensus rating of “Hold” and an average price target of $228.50.

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.