First Trust Advisors LP decreased its holdings in Constellation Brands, Inc. (NYSE:STZ) by 36.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 84,243 shares of the company’s stock after selling 49,279 shares during the quarter. First Trust Advisors LP’s holdings in Constellation Brands were worth $15,985,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also made changes to their positions in the stock. State Street Corp lifted its stake in Constellation Brands by 1.7% in the third quarter. State Street Corp now owns 7,469,971 shares of the company’s stock worth $1,548,376,000 after acquiring an additional 124,090 shares during the period. M&G Investment Management Ltd. purchased a new stake in Constellation Brands in the fourth quarter worth $116,421,000. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in Constellation Brands by 1.6% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 610,948 shares of the company’s stock worth $115,927,000 after acquiring an additional 9,566 shares during the period. Parametric Portfolio Associates LLC lifted its stake in Constellation Brands by 10.6% in the third quarter. Parametric Portfolio Associates LLC now owns 587,674 shares of the company’s stock worth $121,813,000 after acquiring an additional 56,088 shares during the period. Finally, Russell Investments Group Ltd. lifted its stake in Constellation Brands by 17.2% in the fourth quarter. Russell Investments Group Ltd. now owns 536,824 shares of the company’s stock worth $101,800,000 after acquiring an additional 78,969 shares during the period. 72.18% of the stock is owned by institutional investors.
In other news, CFO David Eric Klein sold 36,488 shares of the firm’s stock in a transaction on Thursday, January 9th. The stock was sold at an average price of $195.48, for a total transaction of $7,132,674.24. Following the completion of the transaction, the chief financial officer now directly owns 45,380 shares in the company, valued at $8,870,882.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Robert Lee Hanson sold 2,028 shares of the firm’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $200.39, for a total value of $406,390.92. The disclosure for this sale can be found here. Insiders have sold 42,572 shares of company stock valued at $8,329,985 over the last 90 days. Corporate insiders own 15.86% of the company’s stock.
STZ opened at $201.19 on Friday. The stock has a fifty day simple moving average of $191.78 and a two-hundred day simple moving average of $193.51. The company has a current ratio of 1.41, a quick ratio of 0.86 and a debt-to-equity ratio of 0.94. The company has a market cap of $38.34 billion, a price-to-earnings ratio of 48.48, a price-to-earnings-growth ratio of 2.77 and a beta of 0.72. Constellation Brands, Inc. has a 12-month low of $163.52 and a 12-month high of $214.48.
Constellation Brands (NYSE:STZ) last issued its quarterly earnings results on Wednesday, January 8th. The company reported $2.14 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.30. Constellation Brands had a return on equity of 14.15% and a net margin of 9.21%. The firm had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $1.95 billion. During the same period last year, the company earned $2.37 earnings per share. The company’s revenue was up 1.0% on a year-over-year basis. On average, analysts predict that Constellation Brands, Inc. will post 8.83 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 25th. Stockholders of record on Tuesday, February 11th will be issued a dividend of $0.75 per share. The ex-dividend date is Monday, February 10th. This represents a $3.00 annualized dividend and a dividend yield of 1.49%. Constellation Brands’s payout ratio is presently 10.02%.
A number of brokerages recently commented on STZ. Jefferies Financial Group raised their price target on Constellation Brands from $260.00 to $265.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Royal Bank of Canada reiterated a “buy” rating and issued a $250.00 price objective on shares of Constellation Brands in a report on Thursday, January 23rd. Credit Suisse Group increased their price objective on Constellation Brands from $228.00 to $233.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Cowen reiterated a “buy” rating and issued a $240.00 price objective on shares of Constellation Brands in a report on Friday, December 6th. Finally, ValuEngine downgraded Constellation Brands from a “hold” rating to a “sell” rating in a report on Thursday, February 6th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $227.61.
About Constellation Brands
Constellation Brands, Inc, together with its subsidiaries, produces, imports, and markets beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. It provides beer primarily under the Corona Extra, Corona Light, Corona Premier, Corona Familiar Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands, as well as Funky Buddha, Four Corners, and Ballast Point brands.
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