Zurcher Kantonalbank Zurich Cantonalbank Trims Position in Constellation Brands, Inc. (NYSE:STZ)

Zurcher Kantonalbank Zurich Cantonalbank lowered its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 0.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 79,692 shares of the company’s stock after selling 333 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Constellation Brands were worth $17,612,000 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 STZ. Mainstream Capital Management LLC purchased a new stake in shares of Constellation Brands in the fourth quarter valued at $25,000. SBI Securities Co. Ltd. purchased a new stake in Constellation Brands in the 4th quarter valued at about $26,000. Compagnie Lombard Odier SCmA acquired a new position in shares of Constellation Brands during the 4th quarter valued at about $27,000. Union Bancaire Privee UBP SA acquired a new position in shares of Constellation Brands during the 4th quarter valued at about $28,000. Finally, Versant Capital Management Inc lifted its holdings in shares of Constellation Brands by 887.5% during the 4th quarter. Versant Capital Management Inc now owns 158 shares of the company’s stock worth $35,000 after acquiring an additional 142 shares during the period. 77.34% of the stock is owned by hedge funds and other institutional investors.

Constellation Brands Stock Down 2.1 %

Shares of Constellation Brands stock opened at $185.57 on Wednesday. Constellation Brands, Inc. has a 1-year low of $160.46 and a 1-year high of $274.87. The company has a market capitalization of $33.54 billion, a PE ratio of 49.88, a P/E/G ratio of 1.52 and a beta of 1.75. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.10 and a quick ratio of 0.46. The business has a 50-day moving average of $182.96 and a 200-day moving average of $220.33.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings data on Friday, January 10th. The company reported $3.25 earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $2.53 billion. During the same quarter last year, the business earned $3.19 EPS. Constellation Brands’s revenue for the quarter was down .3% compared to the same quarter last year. As a group, equities analysts forecast that Constellation Brands, Inc. will post 13.5 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 7th were issued a $1.01 dividend. The ex-dividend date was Friday, February 7th. This represents a $4.04 annualized dividend and a yield of 2.18%. Constellation Brands’s dividend payout ratio is presently 108.60%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on STZ shares. BNP Paribas began coverage on shares of Constellation Brands in a report on Monday, November 25th. They issued a “neutral” rating and a $261.00 target price for the company. StockNews.com upgraded Constellation Brands from a “sell” rating to a “hold” rating in a report on Thursday, March 6th. Needham & Company LLC reiterated a “buy” rating and issued a $240.00 target price on shares of Constellation Brands in a report on Monday, January 27th. Jefferies Financial Group reissued a “hold” rating and set a $201.00 price target (down previously from $310.00) on shares of Constellation Brands in a research report on Monday, January 13th. Finally, Morgan Stanley downgraded Constellation Brands from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $220.00 to $202.00 in a report on Thursday, February 27th. Eleven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $253.24.

Insider Activity at Constellation Brands

In related news, Director William T. Giles bought 1,000 shares of the business’s stock in a transaction dated Friday, January 17th. The shares were acquired at an average price of $186.39 per share, for a total transaction 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. 12.19% of the stock is currently owned by corporate insiders.

Constellation Brands Profile

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.