First Citizens Bank & Trust Co. Lowers Position in Constellation Brands, Inc. (NYSE:STZ)

First Citizens Bank & Trust Co. reduced its stake in Constellation Brands, Inc. (NYSE:STZ) by 9.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,629 shares of the company’s stock after selling 269 shares during the period. First Citizens Bank & Trust Co.’s holdings in Constellation Brands were worth $581,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Eastern Bank purchased a new stake in shares of Constellation Brands in the third quarter worth about $39,000. Versant Capital Management Inc raised its holdings in shares of Constellation Brands by 887.5% during the 4th quarter. Versant Capital Management Inc now owns 158 shares of the company’s stock worth $35,000 after acquiring an additional 142 shares in the last quarter. FSA Wealth Management LLC bought a new position in shares of Constellation Brands during the 3rd quarter valued at approximately $42,000. Truvestments Capital LLC purchased a new position in shares of Constellation Brands in the third quarter valued at $60,000. Finally, Northwest Investment Counselors LLC bought a new stake in Constellation Brands in the third quarter worth $62,000. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Constellation Brands Trading Up 2.6 %

Constellation Brands stock opened at $187.84 on Tuesday. The stock has a 50-day moving average price of $221.02 and a 200 day moving average price of $236.20. The company has a market capitalization of $33.95 billion, a price-to-earnings ratio of 50.49, a price-to-earnings-growth ratio of 1.58 and a beta of 1.75. Constellation Brands, Inc. has a 52 week low of $176.51 and a 52 week high of $274.87. The company has a quick ratio of 0.46, a current ratio of 1.10 and a debt-to-equity ratio of 1.26.

Constellation Brands (NYSE:STZ) last issued its earnings results 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). 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 period last year, the business earned $3.19 EPS. The company’s revenue for the quarter was down .3% on a year-over-year basis. Sell-side analysts anticipate that Constellation Brands, Inc. will post 13.52 EPS for the current year.

Constellation Brands Dividend Announcement

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 paid a dividend of $1.01 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 2.15%. Constellation Brands’s payout ratio is 108.60%.

Analyst Ratings Changes

STZ has been the subject of several research reports. BNP Paribas assumed coverage on shares of Constellation Brands in a research report on Monday, November 25th. They set a “neutral” rating and a $261.00 price objective for the company. Morgan Stanley reduced their price objective on Constellation Brands from $280.00 to $220.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. Roth Mkm reaffirmed a “buy” rating and issued a $298.00 price objective on shares of Constellation Brands in a research note on Friday, October 4th. BMO Capital Markets cut their target price on Constellation Brands from $315.00 to $305.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 15th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $308.00 price target on shares of Constellation Brands in a report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $257.14.

Insider Buying and Selling at Constellation Brands

In related 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 value of $8,768,537.14. Following the transaction, the executive vice president now directly owns 16,042 shares of the company’s stock, valued at approximately $3,898,045.58. This trade represents a 69.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Wildstar Partners Llc sold 660 shares of Constellation Brands stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $241.00, for a total value of $159,060.00. Following the completion of the sale, the insider now owns 1,736,884 shares in the company, valued at approximately $418,589,044. The trade was a 0.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 61,746 shares of company stock valued at $15,017,097. Corporate insiders own 12.19% of the company’s stock.

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.