Parallel Advisors LLC Decreases Stake in Constellation Brands, Inc. (NYSE:STZ)

Parallel Advisors LLC reduced its position in Constellation Brands, Inc. (NYSE:STZ) by 0.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,922 shares of the company’s stock after selling 115 shares during the period. Parallel Advisors LLC’s holdings in Constellation Brands were worth $3,740,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in STZ. CIBC Asset Management Inc boosted its position in Constellation Brands by 6.1% in the 3rd quarter. CIBC Asset Management Inc now owns 23,676 shares of the company’s stock valued at $6,101,000 after buying an additional 1,366 shares during the last quarter. Empowered Funds LLC boosted its position in Constellation Brands by 318.8% in the 3rd quarter. Empowered Funds LLC now owns 10,184 shares of the company’s stock valued at $2,624,000 after buying an additional 7,752 shares during the last quarter. Natixis Advisors LLC boosted its position in Constellation Brands by 37.4% in the 3rd quarter. Natixis Advisors LLC now owns 113,393 shares of the company’s stock valued at $29,220,000 after buying an additional 30,862 shares during the last quarter. Mutual of America Capital Management LLC boosted its position in Constellation Brands by 0.3% in the 3rd quarter. Mutual of America Capital Management LLC now owns 33,223 shares of the company’s stock valued at $8,561,000 after buying an additional 100 shares during the last quarter. Finally, Thrivent Financial for Lutherans lifted its position in shares of Constellation Brands by 13.0% during the third quarter. Thrivent Financial for Lutherans now owns 7,341 shares of the company’s stock worth $1,892,000 after purchasing an additional 845 shares during the last quarter. 77.34% of the stock is owned by hedge funds and other institutional investors.

Constellation Brands Price Performance

Shares of NYSE:STZ opened at $183.53 on Tuesday. The firm’s 50 day moving average is $179.79 and its two-hundred day moving average is $218.70. Constellation Brands, Inc. has a 52 week low of $160.46 and a 52 week high of $274.87. The firm has a market capitalization of $33.17 billion, a P/E ratio of 49.34, a PEG ratio of 1.52 and a beta of 1.75. 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 announced its quarterly earnings results on Friday, January 10th. The company reported $3.25 EPS for the quarter, missing the consensus estimate of $3.33 by ($0.08). Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. 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 posted $3.19 EPS. Constellation Brands’s revenue for the quarter was down .3% compared to the same quarter last year. Analysts anticipate that Constellation Brands, Inc. will post 13.5 earnings per share 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 issued a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend was Friday, February 7th. Constellation Brands’s dividend payout ratio (DPR) is presently 108.60%.

Analyst Ratings Changes

Several equities analysts have recently commented on STZ shares. UBS Group reduced their price target on shares of Constellation Brands from $265.00 to $223.00 and set a “buy” rating on the stock in a research report on Friday, January 17th. Barclays reduced their price target on shares of Constellation Brands from $214.00 to $205.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Jefferies Financial Group reaffirmed 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. Needham & Company LLC reaffirmed a “buy” rating and set a $240.00 price target on shares of Constellation Brands in a research report on Monday, January 27th. Finally, Evercore ISI reduced their price target on shares of Constellation Brands from $300.00 to $250.00 and set an “outperform” rating on the stock in a research report on Monday, January 13th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $252.81.

Insider Activity

In related news, Director William T. Giles acquired 1,000 shares of the firm’s stock in a transaction dated Friday, January 17th. The stock was acquired at an average cost of $186.39 per share, for a total transaction 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 approximately $272,688.57. The trade was a 215.98 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 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.