SVB Wealth LLC Makes New Investment in Constellation Brands, Inc. (NYSE:STZ)

SVB Wealth LLC purchased a new stake in shares of Constellation Brands, Inc. (NYSE:STZ) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 3,234 shares of the company’s stock, valued at approximately $715,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Van ECK Associates Corp lifted its position in Constellation Brands by 1,844.7% during the fourth quarter. Van ECK Associates Corp now owns 924,274 shares of the company’s stock valued at $204,265,000 after purchasing an additional 876,745 shares during the period. State Street Corp raised its stake in Constellation Brands by 6.0% during the 3rd quarter. State Street Corp now owns 7,144,428 shares of the company’s stock valued at $1,841,048,000 after buying an additional 402,211 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings 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 valued at $81,762,000 after buying an additional 147,457 shares during the period. Proficio Capital Partners LLC purchased a new position in shares of Constellation Brands in the 4th quarter worth $25,119,000. Finally, NFJ Investment Group LLC grew its holdings in shares of Constellation Brands by 617.3% in the third quarter. NFJ Investment Group LLC now owns 108,382 shares of the company’s stock worth $27,929,000 after acquiring an additional 93,273 shares during the period. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Constellation Brands Stock Performance

NYSE STZ opened at $175.38 on Tuesday. The company has a quick ratio of 0.46, a current ratio of 1.10 and a debt-to-equity ratio of 1.26. Constellation Brands, Inc. has a twelve month low of $160.46 and a twelve month high of $274.87. The business has a 50-day moving average price of $187.98 and a 200-day moving average price of $222.99. The firm has a market cap of $31.70 billion, a price-to-earnings ratio of 47.15, a price-to-earnings-growth ratio of 1.52 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings results on Friday, January 10th. The company reported $3.25 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 business had revenue of $2.46 billion during the quarter, compared to analysts’ expectations of $2.53 billion. During the same period in the prior year, the firm posted $3.19 earnings per share. The firm’s revenue for the quarter was down .3% on a year-over-year basis. As a group, equities research analysts predict that Constellation Brands, Inc. will post 13.5 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 7th were paid a dividend of $1.01 per share. The ex-dividend date was Friday, February 7th. This represents a $4.04 annualized dividend and a yield of 2.30%. Constellation Brands’s payout ratio is 108.60%.

Analysts Set New Price Targets

A number of research analysts have weighed in on STZ shares. Roth Capital lowered their target price on Constellation Brands from $298.00 to $284.00 and set a “buy” rating on the stock in a report on Friday, January 17th. Argus cut shares of Constellation Brands from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. StockNews.com lowered shares of Constellation Brands from a “hold” rating to a “sell” rating in a research report on Wednesday, February 26th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $203.00 price target (down from $262.00) on shares of Constellation Brands in a research report on Monday, January 13th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $201.00 price target (down previously from $310.00) on shares of Constellation Brands in a research note on Monday, January 13th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $253.43.

Insider Buying and Selling at Constellation Brands

In other news, Director William T. Giles acquired 1,000 shares of the business’s stock in a transaction dated Friday, January 17th. The stock was purchased at an average price of $186.39 per share, for a total transaction of $186,390.00. Following the completion of the transaction, the director now directly owns 1,463 shares in the company, valued at approximately $272,688.57. This trade represents a 215.98 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 12.19% of the stock is currently owned by 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.