Empire Life Investments Inc. Sells 4,114 Shares of Constellation Brands, Inc. (NYSE:STZ)

Empire Life Investments Inc. trimmed its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 5.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 73,040 shares of the company’s stock after selling 4,114 shares during the period. Empire Life Investments Inc.’s holdings in Constellation Brands were worth $16,142,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Compagnie Lombard Odier SCmA purchased a new stake in Constellation Brands during the 4th quarter valued at $27,000. Union Bancaire Privee UBP SA purchased a new stake in Constellation Brands during the 4th quarter valued at $28,000. Eastern Bank purchased a new stake in Constellation Brands during the 3rd quarter valued at $39,000. Versant Capital Management Inc boosted its stake in Constellation Brands by 887.5% during the 4th quarter. Versant Capital Management Inc now owns 158 shares of the company’s stock valued at $35,000 after purchasing an additional 142 shares during the last quarter. Finally, FSA Wealth Management LLC purchased a new stake in Constellation Brands during the 3rd quarter valued at $42,000. 77.34% of the stock is currently owned by hedge funds and other institutional investors.

Constellation Brands Price Performance

Shares of Constellation Brands stock opened at $162.69 on Friday. The stock’s 50-day simple moving average is $202.88 and its 200-day simple moving average is $228.99. Constellation Brands, Inc. has a 52 week low of $160.46 and a 52 week high of $274.87. The company has a market capitalization of $29.40 billion, a price-to-earnings ratio of 43.73, a PEG ratio of 1.51 and a beta of 0.90. 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 (NYSE:STZ) last announced its quarterly earnings data on Friday, January 10th. The company reported $3.25 EPS for the quarter, missing the consensus estimate of $3.33 by ($0.08). Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. The business had revenue of $2.46 billion during the quarter, compared to analysts’ expectations of $2.53 billion. During the same quarter in the previous year, the firm earned $3.19 earnings per share. Constellation Brands’s revenue was down .3% on a year-over-year basis. As a group, analysts expect that Constellation Brands, Inc. will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Friday, February 7th will be given a $1.01 dividend. The ex-dividend date is Friday, February 7th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 2.48%. Constellation Brands’s dividend payout ratio is currently 108.60%.

Insider Buying and Selling

In other news, Director William T. Giles bought 1,000 shares of the firm’s stock in a transaction that occurred on Friday, January 17th. The shares were bought at an average cost of $186.39 per share, for a total transaction of $186,390.00. Following the completion of the transaction, the director now owns 1,463 shares of the company’s stock, valued at approximately $272,688.57. This represents a 215.98 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Wildstar Partners Llc sold 660 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $241.00, for a total value of $159,060.00. Following the completion of the sale, the insider now owns 1,736,884 shares in the company, valued at $418,589,044. This represents a 0.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 12.19% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. UBS Group dropped their price target on Constellation Brands from $265.00 to $223.00 and set a “buy” rating on the stock in a research note on Friday, January 17th. Piper Sandler downgraded Constellation Brands from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $245.00 to $200.00 in a research note on Monday, February 3rd. TD Cowen dropped their price target on Constellation Brands from $270.00 to $260.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Royal Bank of Canada restated an “outperform” rating and issued a $293.00 price target on shares of Constellation Brands in a research note on Monday, February 3rd. Finally, BNP Paribas assumed coverage on Constellation Brands in a research note on Monday, November 25th. They issued a “neutral” rating and a $261.00 price target on the stock. Ten equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $254.29.

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.