Pinebridge Investments L.P. Sells 4,220 Shares of Constellation Brands, Inc. (NYSE:STZ)

Pinebridge Investments L.P. reduced its position in Constellation Brands, Inc. (NYSE:STZ) by 14.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 25,701 shares of the company’s stock after selling 4,220 shares during the period. Pinebridge Investments L.P.’s holdings in Constellation Brands were worth $5,680,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Constellation Brands by 13.3% in the fourth quarter. Vanguard Group Inc. now owns 15,534,787 shares of the company’s stock valued at $3,433,188,000 after acquiring an additional 1,821,969 shares in the last quarter. Capital World Investors lifted its holdings in shares of Constellation Brands by 3.4% during the 4th quarter. Capital World Investors now owns 9,755,602 shares of the company’s stock valued at $2,155,946,000 after purchasing an additional 324,690 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Constellation Brands by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 3,204,003 shares of the company’s stock worth $705,844,000 after purchasing an additional 63,323 shares in the last quarter. Capital Research Global Investors boosted its position in shares of Constellation Brands by 0.6% in the 4th quarter. Capital Research Global Investors now owns 2,901,975 shares of the company’s stock worth $641,336,000 after purchasing an additional 18,557 shares in the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC grew its stake in Constellation Brands by 42.9% during the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 2,454,258 shares of the company’s stock worth $542,391,000 after buying an additional 736,780 shares during the last quarter. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Constellation Brands Trading Up 0.1 %

Constellation Brands stock opened at $187.56 on Friday. The firm has a market cap of $33.90 billion, a PE ratio of 50.42, a P/E/G ratio of 1.52 and a beta of 1.75. Constellation Brands, Inc. has a 12 month low of $160.46 and a 12 month high of $265.70. The stock’s 50 day simple moving average is $180.56 and its two-hundred day simple moving average is $205.23. The company has a current ratio of 1.10, a quick ratio of 0.46 and a debt-to-equity ratio of 1.26.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Wednesday, April 9th. The company reported $2.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.28 by $0.35. The firm had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.14 billion. Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. The firm’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.26 earnings per share. Analysts anticipate that Constellation Brands, Inc. will post 13.5 earnings per share for the current year.

Constellation Brands Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 29th will be issued a $1.02 dividend. This is a boost from Constellation Brands’s previous quarterly dividend of $1.01. The ex-dividend date of this dividend is Tuesday, April 29th. This represents a $4.08 dividend on an annualized basis and a yield of 2.18%. Constellation Brands’s dividend payout ratio is presently -800.00%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on STZ. Roth Capital lowered their price target on Constellation Brands from $298.00 to $284.00 and set a “buy” rating for the company in a report on Friday, January 17th. StockNews.com cut shares of Constellation Brands from a “hold” rating to a “sell” rating in a research note on Thursday, April 17th. Needham & Company LLC reissued a “buy” rating and set a $215.00 target price on shares of Constellation Brands in a research report on Thursday, April 10th. BMO Capital Markets decreased their price target on shares of Constellation Brands from $260.00 to $215.00 and set an “outperform” rating for the company in a report on Friday, April 11th. Finally, TD Cowen dropped their price objective on shares of Constellation Brands from $270.00 to $260.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, Constellation Brands currently has an average rating of “Hold” and an average price target of $224.42.

About Constellation Brands

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.