HighTower Advisors LLC Cuts Stock Position in Constellation Brands Inc $STZ

HighTower Advisors LLC lessened its stake in shares of Constellation Brands Inc (NYSE:STZ) by 14.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 130,281 shares of the company’s stock after selling 22,829 shares during the quarter. HighTower Advisors LLC’s holdings in Constellation Brands were worth $17,974,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Root Financial Partners LLC purchased a new stake in shares of Constellation Brands during the third quarter worth approximately $26,000. Stance Capital LLC purchased a new stake in shares of Constellation Brands during the third quarter worth approximately $26,000. GoalVest Advisory LLC purchased a new stake in shares of Constellation Brands during the fourth quarter worth approximately $28,000. Elyxium Wealth LLC purchased a new stake in shares of Constellation Brands during the fourth quarter worth approximately $33,000. Finally, Mowery & Schoenfeld Wealth Management LLC purchased a new stake in shares of Constellation Brands during the fourth quarter worth approximately $39,000. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Constellation Brands Stock Down 0.9%

Constellation Brands stock opened at $149.50 on Friday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.55 and a current ratio of 1.08. The firm has a market capitalization of $25.74 billion, a price-to-earnings ratio of 15.59, a price-to-earnings-growth ratio of 3.28 and a beta of 0.43. Constellation Brands Inc has a fifty-two week low of $126.45 and a fifty-two week high of $186.40. The stock’s fifty day moving average is $152.73 and its two-hundred day moving average is $148.61.

Constellation Brands (NYSE:STZ) last posted its earnings results on Wednesday, April 8th. The company reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.71 by $0.19. The company had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.84 billion. Constellation Brands had a return on equity of 26.18% and a net margin of 17.29%.Constellation Brands’s revenue was down 11.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.63 earnings per share. Analysts predict that Constellation Brands Inc will post 11.9 EPS for the current fiscal year.

Constellation Brands Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Wednesday, April 29th were issued a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 2.8%. This is a positive change from Constellation Brands’s previous quarterly dividend of $1.02. The ex-dividend date of this dividend was Wednesday, April 29th. Constellation Brands’s dividend payout ratio is currently 42.96%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. UBS Group upped their price objective on Constellation Brands from $176.00 to $186.00 and gave the stock a “buy” rating in a report on Friday, April 10th. Roth Mkm reaffirmed a “buy” rating on shares of Constellation Brands in a report on Thursday, April 9th. Evercore set a $175.00 price objective on Constellation Brands and gave the stock an “outperform” rating in a report on Friday, April 10th. Needham & Company LLC upped their price objective on Constellation Brands from $180.00 to $185.00 and gave the stock a “buy” rating in a report on Friday, April 10th. Finally, Citigroup reaffirmed a “buy” rating on shares of Constellation Brands in a report on Monday, May 18th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $175.37.

Insiders Place Their Bets

In other Constellation Brands news, EVP James O. Bourdeau sold 4,407 shares of the company’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $143.24, for a total value of $631,258.68. Following the sale, the executive vice president owned 9,109 shares of the company’s stock, valued at approximately $1,304,773.16. This represents a 32.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 12.45% of the company’s stock.

About Constellation Brands

Constellation Brands, Inc is a leading producer and marketer of beer, wine and spirits, with operations spanning production, importation, marketing and distribution. The company’s beverage portfolio includes a range of premium and mainstream wines and spirits alongside major imported beer brands; in the U.S. market Constellation is widely known for its role in bringing Mexican imports such as Corona and Modelo to American consumers. Constellation supplies retail, on‑premise and foodservice channels and supports its brands with national sales and marketing platforms and supply‑chain capabilities.

The company traces its roots to the Canandaigua Wine Company, founded by Marvin Sands in 1945, and evolved through organic growth and acquisition into a diversified beverage company.