Clearbridge Investments LLC Raises Holdings in Constellation Brands, Inc. (NYSE:STZ)

Clearbridge Investments LLC boosted its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 3.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 742,458 shares of the company’s stock after buying an additional 22,471 shares during the period. Clearbridge Investments LLC owned 0.41% of Constellation Brands worth $164,083,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in STZ. Norges Bank bought a new stake in Constellation Brands during the fourth quarter valued at about $445,883,000. Vanguard Group Inc. lifted its position in shares of Constellation Brands by 13.3% during the fourth quarter. Vanguard Group Inc. now owns 15,534,787 shares of the company’s stock valued at $3,433,188,000 after buying an additional 1,821,969 shares during the last quarter. Van ECK Associates Corp lifted its position in shares of Constellation Brands by 1,844.7% during the fourth quarter. Van ECK Associates Corp now owns 924,274 shares of the company’s stock valued at $204,265,000 after buying an additional 876,745 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Constellation Brands during the 4th quarter worth approximately $105,766,000. Finally, State Street Corp lifted its position in Constellation Brands by 6.0% during the third quarter. State Street Corp now owns 7,144,428 shares of the company’s stock valued at $1,841,048,000 after acquiring an additional 402,211 shares during the last quarter. 77.34% of the stock is currently owned by hedge funds and other institutional investors.

Constellation Brands Stock Down 0.3 %

STZ stock opened at $183.69 on Monday. Constellation Brands, Inc. has a 52 week low of $160.46 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. The firm has a 50-day simple moving average of $177.19 and a 200-day simple moving average of $214.50. The stock has a market capitalization of $33.20 billion, a P/E ratio of 49.38, a P/E/G ratio of 1.52 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings data on Friday, January 10th. The company reported $3.25 EPS for the quarter, missing the consensus estimate of $3.33 by ($0.08). The firm had revenue of $2.46 billion for the quarter, compared to analysts’ expectations of $2.53 billion. Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. Constellation Brands’s quarterly revenue was down .3% on a year-over-year basis. During the same quarter last year, the firm posted $3.19 earnings per share. Equities analysts forecast that Constellation Brands, Inc. will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 7th were issued a $1.01 dividend. The ex-dividend date was Friday, February 7th. This represents a $4.04 dividend on an annualized basis and a yield of 2.20%. Constellation Brands’s payout ratio is currently 108.60%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Wells Fargo & Company reduced their price target on Constellation Brands from $295.00 to $275.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Argus lowered Constellation Brands from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. TD Cowen dropped their price target on Constellation Brands from $270.00 to $260.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. 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 report on Monday, January 13th. Finally, Royal Bank of Canada reduced their price target on shares of Constellation Brands from $293.00 to $289.00 and set an “outperform” rating for the company in a research report on Friday, March 7th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $249.18.

Insiders Place Their Bets

In other Constellation Brands news, Director William T. Giles purchased 1,000 shares of the firm’s stock in a transaction dated Friday, January 17th. The shares were purchased at an average cost of $186.39 per share, with a total value of $186,390.00. Following the completion of the purchase, the director now owns 1,463 shares in the company, valued at approximately $272,688.57. This represents a 215.98 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 12.19% of the stock is currently owned by corporate 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.