Allstate Corp Invests $1.10 Million in Constellation Brands, Inc. (NYSE:STZ)

Allstate Corp purchased a new stake in Constellation Brands, Inc. (NYSE:STZ) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,985 shares of the company’s stock, valued at approximately $1,102,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of STZ. Mainstream Capital Management LLC bought a new stake in shares of Constellation Brands in the fourth quarter valued at about $25,000. SBI Securities Co. Ltd. acquired a new stake in shares of Constellation Brands during the 4th quarter worth approximately $26,000. Compagnie Lombard Odier SCmA acquired a new stake in shares of Constellation Brands during the 4th quarter worth approximately $27,000. Union Bancaire Privee UBP SA bought a new stake in shares of Constellation Brands during the fourth quarter valued at approximately $28,000. Finally, Versant Capital Management Inc raised its stake in shares of Constellation Brands by 887.5% in the fourth quarter. Versant Capital Management Inc now owns 158 shares of the company’s stock valued at $35,000 after purchasing an additional 142 shares in the last quarter. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Constellation Brands Stock Down 0.3 %

NYSE STZ opened at $183.69 on Monday. The stock has a market capitalization of $33.20 billion, a P/E ratio of 49.38, a price-to-earnings-growth ratio of 1.52 and a beta of 1.75. Constellation Brands, Inc. has a 52 week low of $160.46 and a 52 week high of $274.87. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.46 and a current ratio of 1.10. The stock has a fifty day moving average of $177.19 and a 200-day moving average of $214.50.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings data 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 firm had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.53 billion. During the same quarter in the previous year, the business earned $3.19 earnings per share. Constellation Brands’s revenue for the quarter was down .3% compared to the same quarter last year. On average, equities research analysts forecast that Constellation Brands, Inc. will post 13.5 EPS for the current year.

Constellation Brands Announces Dividend

The firm also recently disclosed 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 2.20%. Constellation Brands’s dividend payout ratio is currently 108.60%.

Insiders Place Their Bets

In related news, Director William T. Giles acquired 1,000 shares of the firm’s stock in a transaction that occurred on 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 purchase, 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 ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 12.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on STZ shares. Citigroup lowered shares of Constellation Brands from a “buy” rating to a “neutral” rating and lowered their price target for the company from $260.00 to $200.00 in a report on Thursday, March 20th. Needham & Company LLC lowered their target price on shares of Constellation Brands from $240.00 to $215.00 and set a “buy” rating on the stock in a research note on Thursday. UBS Group cut their price target on shares of Constellation Brands from $265.00 to $223.00 and set a “buy” rating for the company in a research note on Friday, January 17th. StockNews.com lowered Constellation Brands from a “hold” rating to a “sell” rating in a research note on Friday, March 14th. Finally, TD Cowen cut their target price on Constellation Brands from $270.00 to $260.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $249.18.

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.