Constellation Brands, Inc. (NYSE:STZ) Shares Sold by HM Payson & Co.

HM Payson & Co. lessened its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 14.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,875 shares of the company’s stock after selling 976 shares during the quarter. HM Payson & Co.’s holdings in Constellation Brands were worth $1,298,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. State Street Corp raised its stake in shares of Constellation Brands by 6.0% during the 3rd quarter. State Street Corp now owns 7,144,428 shares of the company’s stock worth $1,841,048,000 after buying an additional 402,211 shares during the last quarter. Janus Henderson Group PLC raised its stake in shares of Constellation Brands by 1.2% during the 3rd quarter. Janus Henderson Group PLC now owns 1,853,081 shares of the company’s stock worth $477,515,000 after buying an additional 21,454 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Constellation Brands by 2.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,782,964 shares of the company’s stock worth $394,035,000 after buying an additional 38,786 shares during the last quarter. Van ECK Associates Corp raised its stake 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 last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Constellation Brands during the 4th quarter worth $105,766,000. Institutional investors and hedge funds own 77.34% of the company’s stock.

Wall Street Analysts Forecast Growth

STZ has been the subject of several research reports. Barclays cut their price target on Constellation Brands from $282.00 to $214.00 and set an “overweight” rating for the company in a research note on Tuesday, January 14th. Argus cut Constellation Brands from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. UBS Group dropped their price objective on Constellation Brands from $265.00 to $223.00 and set a “buy” rating for the company in a research report on Friday, January 17th. 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 objective for the company. Finally, Needham & Company LLC reiterated a “buy” rating and set a $240.00 price objective on shares of Constellation Brands in a research report on Monday, January 27th. Eleven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, Constellation Brands currently has a consensus rating of “Moderate Buy” and an average target price of $253.24.

Constellation Brands Stock Up 4.3 %

Shares of NYSE:STZ opened at $186.64 on Friday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.46 and a current ratio of 1.10. Constellation Brands, Inc. has a 1 year low of $160.46 and a 1 year high of $274.87. The stock has a market capitalization of $33.73 billion, a P/E ratio of 50.17, a PEG ratio of 1.52 and a beta of 1.75. The stock has a 50-day simple moving average of $184.27 and a 200-day simple moving average of $221.29.

Constellation Brands (NYSE:STZ) last issued its earnings results 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 firm had revenue of $2.46 billion for the quarter, compared to analysts’ expectations of $2.53 billion. During the same quarter in the previous year, the firm posted $3.19 EPS. The firm’s revenue for the quarter was down .3% compared to the same quarter last year. Equities analysts forecast that Constellation Brands, Inc. will post 13.5 earnings per share for the current year.

Constellation Brands Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 7th were issued a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date was Friday, February 7th. Constellation Brands’s payout ratio is currently 108.60%.

Insider Transactions at Constellation Brands

In related news, Director William T. Giles purchased 1,000 shares of Constellation Brands stock in a transaction that occurred on Friday, January 17th. The shares were purchased at an average cost of $186.39 per share, with a total value of $186,390.00. Following the transaction, the director now owns 1,463 shares of the company’s stock, valued at approximately $272,688.57. The trade was a 215.98 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 12.19% 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 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.