Ballast Inc. Decreases Stake in Constellation Brands, Inc. (NYSE:STZ)

Ballast Inc. cut its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 10.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,599 shares of the company’s stock after selling 183 shares during the quarter. Ballast Inc.’s holdings in Constellation Brands were worth $387,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ritholtz Wealth Management raised its holdings in Constellation Brands by 6.2% during the fourth quarter. Ritholtz Wealth Management now owns 2,414 shares of the company’s stock worth $584,000 after purchasing an additional 140 shares during the last quarter. WASHINGTON TRUST Co raised its holdings in shares of Constellation Brands by 156.1% in the fourth quarter. WASHINGTON TRUST Co now owns 1,050 shares of the company’s stock worth $254,000 after acquiring an additional 640 shares during the last quarter. Jacobs & Co. CA raised its holdings in shares of Constellation Brands by 1.3% in the fourth quarter. Jacobs & Co. CA now owns 34,977 shares of the company’s stock worth $8,455,000 after acquiring an additional 439 shares during the last quarter. RNC Capital Management LLC raised its holdings in shares of Constellation Brands by 3.2% in the fourth quarter. RNC Capital Management LLC now owns 19,623 shares of the company’s stock worth $4,744,000 after acquiring an additional 603 shares during the last quarter. Finally, Columbia Trust Co 01012016 raised its holdings in shares of Constellation Brands by 23.1% in the fourth quarter. Columbia Trust Co 01012016 now owns 1,089 shares of the company’s stock worth $263,000 after acquiring an additional 204 shares during the last quarter. 77.34% of the stock is owned by institutional investors and hedge funds.

Constellation Brands Trading Down 0.1 %

Shares of STZ opened at $271.77 on Friday. The company has a market capitalization of $49.68 billion, a P/E ratio of 32.16, a P/E/G ratio of 1.87 and a beta of 0.96. Constellation Brands, Inc. has a one year low of $217.05 and a one year high of $273.65. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.46 and a current ratio of 1.05. The stock has a 50-day moving average price of $253.01 and a 200 day moving average price of $246.36.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings results on Friday, January 5th. The company reported $3.19 EPS for the quarter, beating analysts’ consensus estimates of $3.03 by $0.16. The firm had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.54 billion. Constellation Brands had a return on equity of 23.35% and a net margin of 14.76%. Constellation Brands’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.83 earnings per share. Sell-side analysts forecast that Constellation Brands, Inc. will post 11.92 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 22nd. Stockholders of record on Thursday, February 8th were given a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date was Wednesday, February 7th. Constellation Brands’s payout ratio is 42.13%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on STZ. Evercore ISI reissued an “outperform” rating and issued a $300.00 price target on shares of Constellation Brands in a report on Wednesday. JPMorgan Chase & Co. dropped their target price on Constellation Brands from $309.00 to $301.00 and set an “overweight” rating for the company in a research note on Thursday, December 21st. TheStreet lowered Constellation Brands from a “b” rating to a “c+” rating in a research note on Friday, January 5th. Argus lowered Constellation Brands from a “buy” rating to a “hold” rating in a research note on Wednesday, January 10th. Finally, Piper Sandler started coverage on Constellation Brands in a research note on Friday, March 22nd. They issued an “overweight” rating and a $300.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $290.37.

Insider Transactions at Constellation Brands

In related news, major shareholder Family Foundation Sands sold 354,616 shares of the stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $250.26, for a total value of $88,746,200.16. Following the completion of the transaction, the insider now directly owns 54,461 shares of the company’s stock, valued at approximately $13,629,409.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 16.19% of the company’s stock.

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 Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Victoria, Vicky Chamoy, and Pacifico brands.