Diamant Asset Management Inc. Trims Stake in Constellation Brands, Inc. (NYSE:STZ)

Diamant Asset Management Inc. reduced its stake in Constellation Brands, Inc. (NYSE:STZ) by 17.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,895 shares of the company’s stock after selling 600 shares during the period. Diamant Asset Management Inc.’s holdings in Constellation Brands were worth $640,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Berkshire Bank lifted its stake in shares of Constellation Brands by 51.0% in the 4th quarter. Berkshire Bank now owns 1,510 shares of the company’s stock valued at $334,000 after purchasing an additional 510 shares during the period. Clio Asset Management LLC bought a new position in Constellation Brands in the fourth quarter worth $442,000. Union Bancaire Privee UBP SA bought a new position in Constellation Brands in the fourth quarter worth $28,000. Blue Trust Inc. lifted its position in Constellation Brands by 79.0% during the fourth quarter. Blue Trust Inc. now owns 1,828 shares of the company’s stock valued at $404,000 after buying an additional 807 shares during the period. Finally, Patton Albertson Miller Group LLC boosted its holdings in shares of Constellation Brands by 7.0% during the 4th quarter. Patton Albertson Miller Group LLC now owns 25,960 shares of the company’s stock valued at $5,737,000 after buying an additional 1,702 shares in the last quarter. 77.34% of the stock is currently owned by hedge funds and other institutional investors.

Constellation Brands Stock Up 2.6 %

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

Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Friday, January 10th. The company reported $3.25 EPS for the quarter, missing the consensus estimate of $3.33 by ($0.08). The business had revenue of $2.46 billion for the quarter, compared to analysts’ expectations of $2.53 billion. Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. Constellation Brands’s revenue for the quarter was down .3% compared to the same quarter last year. During the same period in the previous year, the company earned $3.19 EPS. As a group, sell-side analysts predict that Constellation Brands, Inc. will post 13.52 EPS for the current year.

Constellation Brands Dividend Announcement

The firm also recently declared 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. This represents a $4.04 annualized dividend and a dividend yield of 2.15%. The ex-dividend date is Friday, February 7th. Constellation Brands’s dividend payout ratio is presently 108.60%.

Insider Activity

In related news, Director William T. Giles acquired 1,000 shares of the business’s stock in a transaction that occurred on Friday, January 17th. The stock was bought at an average cost of $186.39 per share, for a total transaction of $186,390.00. Following the purchase, the director now owns 1,463 shares in the company, valued at $272,688.57. The trade was a 215.98 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Wildstar Partners Llc sold 660 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $241.00, for a total transaction of $159,060.00. Following 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 position. The disclosure for this sale can be found here. Insiders sold a total of 61,746 shares of company stock valued at $15,017,097 in the last 90 days. Company insiders own 12.19% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Evercore ISI lowered their price target on shares of Constellation Brands from $300.00 to $250.00 and set an “outperform” rating for the company in a research report on Monday, January 13th. Jefferies Financial Group reiterated a “hold” rating and set a $201.00 target price (down from $310.00) on shares of Constellation Brands in a report on Monday, January 13th. Bank of America restated a “neutral” rating and issued a $255.00 price target (down previously from $300.00) on shares of Constellation Brands in a research note on Monday, October 7th. Barclays lowered their price objective on Constellation Brands from $282.00 to $214.00 and set an “overweight” rating for the company in a research note on Tuesday, January 14th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and issued a $203.00 target price (down from $262.00) on shares of Constellation Brands in a research note on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $257.14.

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.