Oppenheimer & Co. Inc. Cuts Stake in Constellation Brands Inc $STZ

Oppenheimer & Co. Inc. decreased its holdings in Constellation Brands Inc (NYSE:STZ) by 19.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 15,052 shares of the company’s stock after selling 3,563 shares during the period. Oppenheimer & Co. Inc.’s holdings in Constellation Brands were worth $2,077,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Root Financial Partners LLC purchased a new stake in Constellation Brands during the 3rd quarter valued at $26,000. Stance Capital LLC purchased a new stake in Constellation Brands during the 3rd quarter valued at $26,000. GoalVest Advisory LLC purchased a new stake in Constellation Brands during the 4th quarter valued at $28,000. Salomon & Ludwin LLC purchased a new stake in Constellation Brands during the 3rd quarter valued at $30,000. Finally, Mowery & Schoenfeld Wealth Management LLC purchased a new stake in Constellation Brands during the 4th quarter valued at $39,000. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Constellation Brands Stock Down 3.0%

Shares of NYSE STZ opened at $148.25 on Tuesday. The company has a current ratio of 1.08, a quick ratio of 0.55 and a debt-to-equity ratio of 1.16. Constellation Brands Inc has a 12 month low of $126.45 and a 12 month high of $196.91. The firm has a market capitalization of $25.53 billion, a PE ratio of 15.46, a price-to-earnings-growth ratio of 3.35 and a beta of 0.43. The firm has a fifty day simple moving average of $154.67 and a two-hundred day simple moving average of $147.75.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings data on Wednesday, April 8th. The company reported $1.90 EPS for the quarter, topping the consensus estimate of $1.71 by $0.19. Constellation Brands had a net margin of 17.29% and a return on equity of 26.18%. The business had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same period in the prior year, the business earned $2.63 EPS. The company’s revenue for the quarter was down 11.3% on a year-over-year basis. Equities analysts expect that Constellation Brands Inc will post 11.9 earnings per share for the current year.

Constellation Brands Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 14th. Shareholders of record on Wednesday, April 29th will be issued a $1.03 dividend. This is a boost from Constellation Brands’s previous quarterly dividend of $1.02. The ex-dividend date is Wednesday, April 29th. This represents a $4.12 annualized dividend and a yield of 2.8%. Constellation Brands’s dividend payout ratio (DPR) is currently 42.96%.

Analysts Set New Price Targets

STZ has been the subject of several analyst reports. Barclays increased their price target on shares of Constellation Brands from $151.00 to $170.00 and gave the company an “equal weight” rating in a research report on Friday, April 10th. Royal Bank Of Canada reissued an “outperform” rating and set a $185.00 price target on shares of Constellation Brands in a research report on Friday, April 10th. UBS Group increased their price target on shares of Constellation Brands from $176.00 to $186.00 and gave the company a “buy” rating in a research report on Friday, April 10th. Roth Mkm reissued a “buy” rating on shares of Constellation Brands in a research report on Thursday, April 9th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Constellation Brands from $154.00 to $155.00 and gave the company a “hold” rating in a research report on Friday, April 10th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $178.14.

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.