Constellation Brands, Inc. (NYSE:STZ) Shares Sold by Pitcairn Co.

by · The Markets Daily

Pitcairn Co. trimmed its position in shares of Constellation Brands, Inc. (NYSE:STZ – Free Report) by 18.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,746 shares of the company’s stock after selling 1,306 shares during the period. Pitcairn Co.’s holdings in Constellation Brands were worth $1,270,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Van ECK Associates Corp increased its stake in Constellation Brands by 1,844.7% during the fourth quarter. Van ECK Associates Corp now owns 924,274 shares of the company’s stock worth $204,265,000 after acquiring an additional 876,745 shares during the last quarter. Copperleaf Capital LLC acquired a new position in Constellation Brands during the fourth quarter valued at approximately $343,000. Grimes & Company Inc. purchased a new stake in Constellation Brands during the fourth quarter worth approximately $6,099,000. Empowered Funds LLC increased its position in shares of Constellation Brands by 62.8% in the fourth quarter. Empowered Funds LLC now owns 16,575 shares of the company’s stock worth $3,663,000 after acquiring an additional 6,391 shares in the last quarter. Finally, Southern Style Financial Inc. purchased a new position in shares of Constellation Brands in the 4th quarter valued at $3,074,000. 77.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on STZ. Morgan Stanley cut shares of Constellation Brands from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $220.00 to $202.00 in a research report on Thursday, February 27th. Evercore ISI decreased their target price 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. Roth Capital dropped their target price on Constellation Brands from $298.00 to $284.00 and set a “buy” rating on the stock in a report on Friday, January 17th. Citigroup cut Constellation Brands from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $260.00 to $200.00 in a report on Thursday, March 20th. Finally, Roth Mkm dropped their price objective on shares of Constellation Brands from $284.00 to $256.00 and set a “buy” rating on the stock in a research note on Thursday. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $244.32.

Get Our Latest Stock Analysis on STZ

Constellation Brands Price Performance

Shares of STZ opened at $181.14 on Friday. Constellation Brands, Inc. has a 52 week low of $160.46 and a 52 week high of $274.87. The company has a current ratio of 1.10, a quick ratio of 0.46 and a debt-to-equity ratio of 1.26. The firm has a market cap of $32.74 billion, a price-to-earnings ratio of 48.69, a PEG ratio of 1.52 and a beta of 1.75. The stock has a 50 day moving average of $177.33 and a 200-day moving average of $213.11.

Constellation Brands (NYSE:STZ – Get Free Report) last released 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). The business had revenue of $2.46 billion during the quarter, compared to analyst estimates 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 period in the prior year, the firm earned $3.19 EPS. As a group, analysts forecast that Constellation Brands, Inc. will post 13.5 EPS for the current year.

Constellation Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 7th were paid a dividend of $1.01 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $4.04 annualized dividend and a yield of 2.23%. Constellation Brands’s dividend payout ratio (DPR) is 108.60%.

Insiders Place Their Bets

In related news, Director William T. Giles purchased 1,000 shares of the company’s stock in a transaction dated Friday, January 17th. The shares were acquired at an average cost of $186.39 per share, for a total transaction of $186,390.00. Following the transaction, the director now 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 document filed with the SEC, which is accessible through this hyperlink. 12.19% of the stock is currently owned by corporate insiders.

Constellation Brands Company Profile

(Free Report)

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.

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