Constellation Brands, Inc. (NYSE:STZ) Stock Position Reduced by AMI Asset Management Corp

AMI Asset Management Corp trimmed its position in Constellation Brands, Inc. (NYSE:STZ) by 3.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 160,399 shares of the company’s stock after selling 6,128 shares during the quarter. Constellation Brands makes up approximately 1.9% of AMI Asset Management Corp’s holdings, making the stock its 25th largest position. AMI Asset Management Corp owned 0.09% of Constellation Brands worth $35,448,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in STZ. Ballentine Partners LLC grew its stake in Constellation Brands by 12.8% during the 4th quarter. Ballentine Partners LLC now owns 2,891 shares of the company’s stock worth $639,000 after buying an additional 327 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its position in shares of Constellation Brands by 0.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 52,787 shares of the company’s stock worth $11,666,000 after buying an additional 198 shares in the last quarter. City Holding Co. increased its stake in shares of Constellation Brands by 5.6% during the fourth quarter. City Holding Co. now owns 13,628 shares of the company’s stock valued at $3,012,000 after acquiring an additional 718 shares during the period. Smith Salley Wealth Management raised its holdings in Constellation Brands by 1.8% during the fourth quarter. Smith Salley Wealth Management now owns 71,277 shares of the company’s stock worth $15,752,000 after purchasing an additional 1,270 shares in the last quarter. Finally, Ameritas Advisory Services LLC lifted its position in Constellation Brands by 2.3% in the fourth quarter. Ameritas Advisory Services LLC now owns 5,928 shares of the company’s stock worth $1,310,000 after purchasing an additional 134 shares during the period. 77.34% of the stock is owned by institutional investors and hedge funds.

Constellation Brands Trading Down 0.3 %

Shares of STZ stock opened at $184.05 on Tuesday. The firm has a market capitalization of $33.26 billion, a P/E ratio of 49.48, a price-to-earnings-growth ratio of 1.62 and a beta of 0.91. Constellation Brands, Inc. has a 1 year low of $176.51 and a 1 year high of $274.87. The firm’s fifty day simple moving average is $225.70 and its 200 day simple moving average is $238.27. The company has a current ratio of 1.10, a quick ratio of 0.46 and a debt-to-equity ratio of 1.26.

Constellation Brands (NYSE:STZ) last posted 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). The company had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.53 billion. Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The business’s revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.19 EPS. As a group, sell-side analysts predict that Constellation Brands, Inc. will post 13.52 EPS for the current year.

Constellation Brands Announces Dividend

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

Insider Activity

In other Constellation Brands news, EVP James A. Jr. Sabia sold 36,086 shares of the firm’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $242.99, for a total transaction of $8,768,537.14. Following the completion of the transaction, the executive vice president now owns 16,042 shares in the company, valued at $3,898,045.58. This trade represents a 69.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William A. Newlands sold 25,000 shares of Constellation Brands stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $243.58, for a total value of $6,089,500.00. Following the sale, the chief executive officer now directly owns 7,274 shares in the company, valued at $1,771,800.92. The trade was a 77.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 69,172 shares of company stock worth $16,778,841. Company insiders own 12.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on STZ. Piper Sandler lowered their target price on Constellation Brands from $300.00 to $245.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. Wells Fargo & Company cut their target price on Constellation Brands from $295.00 to $275.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Evercore ISI reduced their price target on shares of Constellation Brands from $300.00 to $250.00 and set an “outperform” rating for the company in a research report on Monday, January 13th. TD Cowen decreased their price objective 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. Finally, Roth Capital reduced their price target on shares of Constellation Brands from $298.00 to $284.00 and set a “buy” rating for the company in a research report on Friday. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $259.05.

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.