Pictet Asset Management Holding SA Raises Stock Position in Constellation Brands, Inc. (NYSE:STZ)

Pictet Asset Management Holding SA boosted its position in Constellation Brands, Inc. (NYSE:STZ) by 1.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 82,748 shares of the company’s stock after purchasing an additional 791 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Constellation Brands were worth $18,287,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of the company. Van ECK Associates Corp raised its position in shares of Constellation Brands by 1,844.7% in the fourth 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 in the last quarter. Copperleaf Capital LLC purchased a new stake in shares of Constellation Brands in the 4th quarter valued at about $343,000. Grimes & Company Inc. bought a new stake in shares of Constellation Brands during the 4th quarter valued at about $6,099,000. Empowered Funds LLC grew its holdings in shares of Constellation Brands by 62.8% during the fourth quarter. Empowered Funds LLC now owns 16,575 shares of the company’s stock worth $3,663,000 after purchasing an additional 6,391 shares in the last quarter. Finally, Southern Style Financial Inc. purchased a new position in shares of Constellation Brands during the fourth quarter worth about $3,074,000. 77.34% of the stock is owned by institutional investors.

Constellation Brands Price Performance

Shares of NYSE:STZ opened at $184.98 on Wednesday. The firm’s 50 day moving average price is $177.22 and its 200-day moving average price is $213.55. 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 market capitalization of $33.43 billion, a PE ratio of 49.73, a price-to-earnings-growth ratio of 1.52 and a beta of 1.75. Constellation Brands, Inc. has a twelve month low of $160.46 and a twelve month high of $274.87.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings results on Friday, January 10th. The company reported $3.25 earnings per share 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 for the quarter, compared to analysts’ expectations of $2.53 billion. During the same quarter in the prior year, the business earned $3.19 EPS. The company’s revenue was down .3% compared to the same quarter last year. Equities research analysts expect that Constellation Brands, Inc. will post 13.5 EPS for the current 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 of this dividend was Friday, February 7th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 2.18%. Constellation Brands’s payout ratio is currently 108.60%.

Insider Activity at Constellation Brands

In other news, Director William T. Giles purchased 1,000 shares of the stock in a transaction on Friday, January 17th. The shares were acquired at an average price 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 of the company’s stock, valued at $272,688.57. This trade represents a 215.98 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 12.19% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

STZ has been the subject of several research analyst reports. Jefferies Financial Group reiterated a “hold” rating and set a $201.00 target price (down from $310.00) on shares of Constellation Brands in a research report on Monday, January 13th. Morgan Stanley lowered shares of Constellation Brands from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $220.00 to $202.00 in a research report on Thursday, February 27th. TD Cowen lowered their price target on Constellation Brands from $270.00 to $260.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. Evercore ISI cut their price objective on Constellation Brands from $300.00 to $250.00 and set an “outperform” rating for the company in a report on Monday, January 13th. Finally, Truist Financial decreased their price objective on Constellation Brands from $255.00 to $190.00 and set a “hold” rating on the stock in a report on Tuesday, January 14th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Constellation Brands currently has an average rating of “Hold” and a consensus target price of $249.18.

Constellation Brands Company 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.