Bartlett & CO. Wealth Management LLC Reduces Holdings in Constellation Brands Inc $STZ

Bartlett & CO. Wealth Management LLC lessened its stake in Constellation Brands Inc (NYSE:STZ) by 4.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,687 shares of the company’s stock after selling 232 shares during the period. Bartlett & CO. Wealth Management LLC’s holdings in Constellation Brands were worth $762,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Laurel Wealth Advisors LLC acquired a new stake in shares of Constellation Brands in the 1st quarter valued at about $32,000. Rakuten Securities Inc. lifted its stake in Constellation Brands by 805.0% in the first quarter. Rakuten Securities Inc. now owns 181 shares of the company’s stock valued at $33,000 after buying an additional 161 shares during the last quarter. Zions Bancorporation National Association UT acquired a new stake in shares of Constellation Brands in the first quarter valued at approximately $38,000. Flaharty Asset Management LLC purchased a new position in shares of Constellation Brands during the first quarter worth approximately $39,000. Finally, WPG Advisers LLC acquired a new position in shares of Constellation Brands in the 1st quarter valued at $43,000. Institutional investors and hedge funds own 77.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on STZ shares. Barclays restated an “equal weight” rating and issued a $150.00 price objective (down from $202.00) on shares of Constellation Brands in a research note on Friday, September 12th. Roth Capital restated a “buy” rating and issued a $209.00 price target (down previously from $239.00) on shares of Constellation Brands in a research report on Wednesday, September 3rd. Jefferies Financial Group decreased their price objective on Constellation Brands from $205.00 to $179.00 and set a “buy” rating for the company in a research report on Wednesday, September 3rd. Morgan Stanley lowered their target price on Constellation Brands from $195.00 to $176.00 and set an “equal weight” rating on the stock in a research note on Wednesday, September 3rd. Finally, Wells Fargo & Company cut their price target on Constellation Brands from $170.00 to $155.00 and set an “overweight” rating for the company in a research note on Thursday, September 25th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nine have given a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $190.16.

Constellation Brands Stock Performance

Shares of STZ stock opened at $140.51 on Friday. The stock has a fifty day moving average price of $154.39 and a 200 day moving average price of $169.74. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.68 and a current ratio of 1.07. The stock has a market cap of $24.77 billion, a PE ratio of -58.79, a P/E/G ratio of 0.42 and a beta of 1.75. Constellation Brands Inc has a 1 year low of $131.20 and a 1 year high of $254.88.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Tuesday, July 1st. The company reported $3.22 earnings per share for the quarter, missing analysts’ consensus estimates of $3.45 by ($0.23). The firm had revenue of $2.52 billion during the quarter, compared to analysts’ expectations of $2.57 billion. Constellation Brands had a negative net margin of 4.11% and a positive return on equity of 31.41%. The company’s quarterly revenue was down 5.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.57 EPS. Sell-side analysts forecast that Constellation Brands Inc will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 13th. Stockholders of record on Thursday, October 30th will be given a $1.02 dividend. The ex-dividend date is Thursday, October 30th. This represents a $4.08 annualized dividend and a dividend yield of 2.9%. Constellation Brands’s dividend payout ratio is currently -170.71%.

Insider Buying and Selling at Constellation Brands

In related news, EVP James O. Bourdeau sold 821 shares of Constellation Brands stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $169.00, for a total transaction of $138,749.00. Following the completion of the transaction, the executive vice president directly owned 9,438 shares in the company, valued at $1,595,022. The trade was a 8.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 12.45% of the stock is currently owned by company insiders.

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.