HCR Wealth Advisors Reduces Stake in Constellation Brands, Inc. (NYSE:STZ)

HCR Wealth Advisors lessened its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 8.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,044 shares of the company’s stock after selling 707 shares during the quarter. HCR Wealth Advisors’ holdings in Constellation Brands were worth $1,778,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of STZ. Oppenheimer Asset Management Inc. lifted its stake in shares of Constellation Brands by 5.0% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 7,567 shares of the company’s stock worth $1,947,000 after purchasing an additional 359 shares during the period. Dimensional Fund Advisors LP increased its holdings in Constellation Brands by 31.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,002,332 shares of the company’s stock valued at $257,865,000 after buying an additional 241,982 shares during the last quarter. Virtu Financial LLC bought a new position in Constellation Brands in the second quarter worth approximately $1,636,000. Argent Trust Co boosted its stake in shares of Constellation Brands by 11.7% during the 2nd quarter. Argent Trust Co now owns 9,595 shares of the company’s stock worth $2,469,000 after acquiring an additional 1,004 shares during the last quarter. Finally, Tredje AP fonden grew its position in shares of Constellation Brands by 148.4% during the 2nd quarter. Tredje AP fonden now owns 25,106 shares of the company’s stock valued at $6,459,000 after acquiring an additional 15,000 shares during the period. Institutional investors own 77.34% of the company’s stock.

Insiders Place Their Bets

In other Constellation Brands news, CEO William A. Newlands sold 7,426 shares of the company’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $237.24, for a total value of $1,761,744.24. Following the completion of the sale, the chief executive officer now directly owns 7,274 shares in the company, valued at approximately $1,725,683.76. This represents a 50.52 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP James A. Jr. Sabia sold 36,086 shares of the firm’s stock in a transaction on 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 owns 16,042 shares in the company, valued at approximately $3,898,045.58. This represents a 69.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 69,172 shares of company stock worth $16,778,841 in the last three months. Corporate insiders own 12.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on STZ shares. Evercore ISI decreased their target price on Constellation Brands from $300.00 to $250.00 and set an “outperform” rating on the stock in a report on Monday. Barclays decreased their price objective on Constellation Brands from $282.00 to $214.00 and set an “overweight” rating on the stock in a research note on Tuesday. Argus downgraded Constellation Brands from a “buy” rating to a “hold” rating in a research note on Tuesday. Jefferies Financial Group reissued a “hold” rating and issued a $201.00 target price (down from $310.00) on shares of Constellation Brands in a report on Monday. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $203.00 price target (down previously from $262.00) on shares of Constellation Brands in a report on Monday. Eight research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, Constellation Brands has an average rating of “Moderate Buy” and a consensus target price of $261.40.

Constellation Brands Price Performance

NYSE:STZ opened at $180.82 on Thursday. The business’s 50-day moving average is $229.71 and its 200 day moving average is $240.26. Constellation Brands, Inc. has a 12 month low of $176.51 and a 12 month high of $274.87. The company has a market capitalization of $32.83 billion, a P/E ratio of 58.52, a P/E/G ratio of 1.69 and a beta of 1.75. The company has a current ratio of 1.25, a quick ratio of 0.53 and a debt-to-equity ratio of 1.31.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings data 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 25.34% and a net margin of 5.29%. The firm had revenue of $2.46 billion for the quarter, compared to analysts’ expectations of $2.53 billion. During the same period last year, the company earned $3.19 earnings per share. The firm’s revenue was down .3% on a year-over-year basis. On average, equities research analysts forecast that Constellation Brands, Inc. will post 13.57 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Friday, February 7th will be given a $1.01 dividend. The ex-dividend date of this dividend is 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%.

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.