Constellation Brands, Inc. (NYSE:STZ) Position Lifted by Cibc World Markets Corp

Cibc World Markets Corp raised its stake in Constellation Brands, Inc. (NYSE:STZ) by 14.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 61,593 shares of the company’s stock after purchasing an additional 7,808 shares during the period. Cibc World Markets Corp’s holdings in Constellation Brands were worth $13,612,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Allworth Financial LP raised its stake in Constellation Brands by 0.8% during the fourth quarter. Allworth Financial LP now owns 7,357 shares of the company’s stock valued at $1,626,000 after buying an additional 59 shares in the last quarter. BSW Wealth Partners raised its position in shares of Constellation Brands by 4.2% during the 4th quarter. BSW Wealth Partners now owns 1,563 shares of the company’s stock valued at $345,000 after acquiring an additional 63 shares in the last quarter. Philip James Wealth Mangement LLC lifted its stake in Constellation Brands by 8.0% during the fourth quarter. Philip James Wealth Mangement LLC now owns 923 shares of the company’s stock worth $204,000 after purchasing an additional 68 shares during the last quarter. Oak Asset Management LLC boosted its holdings in Constellation Brands by 0.4% in the fourth quarter. Oak Asset Management LLC now owns 17,611 shares of the company’s stock worth $3,892,000 after purchasing an additional 71 shares during the period. Finally, Hartford Funds Management Co LLC increased its stake in Constellation Brands by 4.2% during the third quarter. Hartford Funds Management Co LLC now owns 1,797 shares of the company’s stock valued at $463,000 after purchasing an additional 72 shares during the last quarter. Institutional investors and hedge funds own 77.34% of the company’s stock.

Constellation Brands Trading Up 1.2 %

Shares of STZ stock opened at $183.53 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. The stock has a 50-day simple moving average of $179.79 and a 200 day simple moving average of $218.70. Constellation Brands, Inc. has a fifty-two week low of $160.46 and a fifty-two week high of $274.87. The stock has a market capitalization of $33.17 billion, a P/E ratio of 49.34, a P/E/G ratio of 1.52 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings data on Friday, January 10th. The company reported $3.25 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analyst estimates of $2.53 billion. During the same period in the prior year, the firm earned $3.19 EPS. The business’s revenue for the quarter was down .3% on a year-over-year basis. On average, sell-side analysts expect that Constellation Brands, Inc. will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 7th were given a dividend of $1.01 per share. The ex-dividend date was Friday, February 7th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 2.20%. Constellation Brands’s dividend payout ratio (DPR) is presently 108.60%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Morgan Stanley lowered shares of Constellation Brands from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $220.00 to $202.00 in a report on Thursday, February 27th. UBS Group decreased their target price on Constellation Brands from $265.00 to $223.00 and set a “buy” rating for the company in a research note on Friday, January 17th. Royal Bank of Canada dropped their price target on Constellation Brands from $293.00 to $289.00 and set an “outperform” rating on the stock in a research report on Friday, March 7th. Evercore ISI reduced their price objective on Constellation Brands from $300.00 to $250.00 and set an “outperform” rating for the company in a research report on Monday, January 13th. Finally, StockNews.com lowered Constellation Brands from a “hold” rating to a “sell” rating in a research report on Friday. One analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $252.81.

Insider Transactions at Constellation Brands

In related news, Director William T. Giles bought 1,000 shares of Constellation Brands stock in a transaction dated Friday, January 17th. The stock was acquired at an average cost of $186.39 per share, with a total value of $186,390.00. Following the completion of the acquisition, 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate 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.