Constellation Brands, Inc. (NYSE:STZ) Stock Position Trimmed by Evercore Wealth Management LLC

Evercore Wealth Management LLC decreased its position in Constellation Brands, Inc. (NYSE:STZ) by 1.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 355,578 shares of the company’s stock after selling 3,939 shares during the period. Evercore Wealth Management LLC owned approximately 0.20% of Constellation Brands worth $78,583,000 as of its most recent SEC filing.

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

Constellation Brands Stock Down 0.1 %

Shares of Constellation Brands stock opened at $187.00 on Wednesday. Constellation Brands, Inc. has a 1 year low of $160.46 and a 1 year high of $265.70. The company has a market cap of $33.80 billion, a P/E ratio of 50.27, a P/E/G ratio of 1.52 and a beta of 1.75. The company has a current ratio of 1.10, a quick ratio of 0.46 and a debt-to-equity ratio of 1.26. The stock has a 50-day moving average price of $179.57 and a 200 day moving average price of $205.74.

Constellation Brands (NYSE:STZ) last posted 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. Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. The business had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.14 billion. During the same period in the prior year, the firm earned $2.26 earnings per share. The firm’s revenue was up 1.2% compared to the same quarter last year. As a group, analysts expect that Constellation Brands, Inc. will post 13.5 EPS for the current fiscal year.

Constellation Brands Increases Dividend

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

Analysts Set New Price Targets

A number of equities analysts have issued reports on STZ shares. Wells Fargo & Company decreased their price target on Constellation Brands from $230.00 to $210.00 and set an “overweight” rating for the company in a research note on Wednesday, April 2nd. Jefferies Financial Group reaffirmed 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. TD Cowen dropped their price target on shares of Constellation Brands from $270.00 to $260.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. UBS Group reduced their price objective on shares of Constellation Brands from $265.00 to $223.00 and set a “buy” rating for the company in a research report on Friday, January 17th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Constellation Brands from $203.00 to $194.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. 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 company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price 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.