Rosenberg Matthew Hamilton lowered its stake in Constellation Brands, Inc. (NYSE:STZ – Free Report) by 29.1% during the fourth quarter, Holdings Channel.com reports. The fund owned 608 shares of the company’s stock after selling 250 shares during the period. Rosenberg Matthew Hamilton’s holdings in Constellation Brands were worth $134,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. International Assets Investment Management LLC grew its stake in shares of Constellation Brands by 23,184.7% in the third quarter. International Assets Investment Management LLC now owns 499,689 shares of the company’s stock valued at $128,765,000 after buying an additional 497,543 shares in the last quarter. State Street Corp lifted its stake in Constellation Brands by 6.0% in the third quarter. State Street Corp now owns 7,144,428 shares of the company’s stock valued at $1,841,048,000 after acquiring an additional 402,211 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Constellation Brands by 31.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,002,332 shares of the company’s stock valued at $257,865,000 after acquiring an additional 241,982 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in shares of Constellation Brands by 66.3% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 369,966 shares of the company’s stock worth $81,762,000 after purchasing an additional 147,457 shares during the last quarter. Finally, NFJ Investment Group LLC raised its holdings in shares of Constellation Brands by 617.3% in the 3rd quarter. NFJ Investment Group LLC now owns 108,382 shares of the company’s stock valued at $27,929,000 after purchasing an additional 93,273 shares during the period. Institutional investors own 77.34% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities analysts have weighed in on STZ shares. BNP Paribas started coverage on Constellation Brands in a research report on Monday, November 25th. They set a “neutral” rating and a $261.00 price target on the stock. Wells Fargo & Company decreased their target price on Constellation Brands from $295.00 to $275.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $203.00 price target (down previously from $262.00) on shares of Constellation Brands in a research note on Monday. Evercore ISI reduced their price objective on shares of Constellation Brands from $300.00 to $250.00 and set an “outperform” rating for the company in a research report on Monday. Finally, Barclays dropped their price objective on shares of Constellation Brands from $282.00 to $214.00 and set an “overweight” rating on the stock in a research report on Tuesday. Eight analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, Constellation Brands has a consensus rating of “Moderate Buy” and a consensus target price of $261.40.
Constellation Brands Trading Down 2.0 %
Shares of STZ stock opened at $182.18 on Wednesday. The stock has a market cap of $33.08 billion, a P/E ratio of 58.96, a price-to-earnings-growth ratio of 1.69 and a beta of 1.75. Constellation Brands, Inc. has a 1 year low of $176.51 and a 1 year high of $274.87. The company has a current ratio of 1.25, a quick ratio of 0.53 and a debt-to-equity ratio of 1.31. The stock has a 50 day simple moving average of $229.71 and a 200 day simple moving average of $240.26.
Constellation Brands (NYSE:STZ – Get Free Report) last released its earnings results on Friday, January 10th. The company reported $3.25 earnings per share for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.08). Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. The company had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.53 billion. During the same quarter in the previous year, the company posted $3.19 earnings per share. The business’s revenue was down .3% compared to the same quarter last year. On average, research analysts predict that Constellation Brands, Inc. will post 13.57 earnings per share for the current fiscal year.
Constellation Brands Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Friday, February 7th will be paid a dividend of $1.01 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $4.04 dividend on an annualized basis and a yield of 2.22%. Constellation Brands’s payout ratio is 130.74%.
Insider Buying and Selling at Constellation Brands
In related news, CEO William A. Newlands sold 25,000 shares of the stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $243.58, for a total transaction of $6,089,500.00. Following the sale, the chief executive officer now owns 7,274 shares in the company, valued at approximately $1,771,800.92. This trade represents a 77.46 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Wildstar Partners Llc sold 660 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $241.00, for a total transaction of $159,060.00. Following the transaction, the insider now owns 1,736,884 shares of the company’s stock, valued at approximately $418,589,044. This represents a 0.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 69,172 shares of company stock valued at $16,778,841 in the last ninety days. 12.19% of the stock is currently owned by company insiders.
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.
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