44 Wealth Management LLC Sells 359 Shares of Constellation Brands, Inc. (NYSE:STZ)

44 Wealth Management LLC lessened its position in Constellation Brands, Inc. (NYSE:STZ) by 12.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 2,529 shares of the company’s stock after selling 359 shares during the period. 44 Wealth Management LLC’s holdings in Constellation Brands were worth $559,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Van ECK Associates Corp boosted its holdings in shares of Constellation Brands by 1,844.7% during the 4th quarter. Van ECK Associates Corp now owns 924,274 shares of the company’s stock worth $204,265,000 after buying an additional 876,745 shares during the period. Copperleaf Capital LLC bought a new stake in shares of Constellation Brands during the 4th quarter worth about $343,000. Grimes & Company Inc. bought a new stake in shares of Constellation Brands during the 4th quarter worth about $6,099,000. Empowered Funds LLC boosted its holdings in shares of Constellation Brands by 62.8% during the 4th quarter. Empowered Funds LLC now owns 16,575 shares of the company’s stock worth $3,663,000 after buying an additional 6,391 shares during the period. Finally, Southern Style Financial Inc. bought a new stake in shares of Constellation Brands during the 4th quarter worth about $3,074,000. Institutional investors own 77.34% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Barclays reduced their target price on shares of Constellation Brands from $282.00 to $214.00 and set an “overweight” rating for the company in a report on Tuesday, January 14th. TD Cowen dropped their price objective on shares of Constellation Brands from $270.00 to $260.00 and set a “hold” rating for the company in a research note on Wednesday, January 8th. UBS Group dropped their price objective on shares of Constellation Brands from $265.00 to $223.00 and set a “buy” rating for the company in a research note on Friday, January 17th. BNP Paribas began coverage on shares of Constellation Brands in a research note on Monday, November 25th. They issued a “neutral” rating and a $261.00 price objective for the company. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $203.00 price objective (down previously from $262.00) on shares of Constellation Brands in a research note on Monday, January 13th. Ten analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $254.29.

Insider Activity

In other news, Director William T. Giles acquired 1,000 shares of Constellation Brands stock in a transaction dated Friday, January 17th. The shares were bought at an average cost of $186.39 per share, with a total value of $186,390.00. Following the purchase, the director now owns 1,463 shares in the company, valued at $272,688.57. This trade represents a 215.98 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 12.19% of the company’s stock.

Constellation Brands Price Performance

STZ stock opened at $176.00 on Friday. The company has a 50 day simple moving average of $194.29 and a 200 day simple moving average of $225.88. The stock has a market cap of $31.81 billion, a price-to-earnings ratio of 47.31, a P/E/G ratio of 1.52 and a beta of 0.90. Constellation Brands, Inc. has a 1 year low of $160.46 and a 1 year high of $274.87. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.10 and a quick ratio of 0.46.

Constellation Brands (NYSE:STZ) last released its quarterly earnings data on Friday, January 10th. The company reported $3.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.08). Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The company had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.53 billion. During the same quarter in the prior year, the company earned $3.19 earnings per share. Constellation Brands’s revenue for the quarter was down .3% compared to the same quarter last year. Research analysts anticipate that Constellation Brands, Inc. will post 13.5 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 7th were paid a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date was Friday, February 7th. Constellation Brands’s dividend payout ratio is currently 108.60%.

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.