Douglas Lane & Associates LLC Has $78.45 Million Holdings in Constellation Brands, Inc. (NYSE:STZ)

Douglas Lane & Associates LLC grew its stake in Constellation Brands, Inc. (NYSE:STZ) by 1.0% in the fourth quarter, HoldingsChannel reports. The fund owned 358,125 shares of the company’s stock after acquiring an additional 3,544 shares during the period. Constellation Brands accounts for 1.3% of Douglas Lane & Associates LLC’s holdings, making the stock its 27th largest position. Douglas Lane & Associates LLC’s holdings in Constellation Brands were worth $78,447,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Rockbridge Investment Management LCC acquired a new stake in shares of Constellation Brands in the second quarter valued at approximately $25,000. Eudaimonia Partners LLC acquired a new stake in shares of Constellation Brands in the 3rd quarter valued at $27,000. CX Institutional increased its stake in shares of Constellation Brands by 183.3% in the 3rd quarter. CX Institutional now owns 170 shares of the company’s stock valued at $32,000 after buying an additional 110 shares during the period. Paces Ferry Wealth Advisors LLC bought a new stake in shares of Constellation Brands during the third quarter worth $32,000. Finally, South State CORP. lifted its stake in shares of Constellation Brands by 75.0% during the third quarter. South State CORP. now owns 175 shares of the company’s stock valued at $33,000 after acquiring an additional 75 shares during the period. Institutional investors own 71.77% of the company’s stock.

NYSE:STZ traded up $0.43 during mid-day trading on Thursday, reaching $225.00. 19,062 shares of the company’s stock were exchanged, compared to its average volume of 1,630,962. Constellation Brands, Inc. has a one year low of $104.28 and a one year high of $240.76. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.16 and a current ratio of 1.85. The business’s fifty day simple moving average is $215.05 and its two-hundred day simple moving average is $191.59. The firm has a market capitalization of $43.61 billion, a PE ratio of 40.32, a price-to-earnings-growth ratio of 3.26 and a beta of 0.94.

Constellation Brands (NYSE:STZ) last announced its earnings results on Wednesday, January 6th. The company reported $3.09 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.41 by $0.68. Constellation Brands had a net margin of 12.35% and a return on equity of 15.08%. The firm had revenue of $2.44 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same quarter in the prior year, the business posted $2.14 EPS. The business’s revenue was up 22.5% compared to the same quarter last year. As a group, equities research analysts forecast that Constellation Brands, Inc. will post 9.13 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 23rd. Shareholders of record on Tuesday, February 9th will be paid a dividend of $0.75 per share. The ex-dividend date of this dividend is Monday, February 8th. This represents a $3.00 dividend on an annualized basis and a yield of 1.33%. Constellation Brands’s dividend payout ratio (DPR) is presently 10.20%.

Several brokerages have weighed in on STZ. Argus boosted their price objective on Constellation Brands from $230.00 to $272.00 and gave the stock a “buy” rating in a report on Friday, January 8th. Royal Bank of Canada lifted their price target on shares of Constellation Brands from $216.00 to $243.00 and gave the stock an “outperform” rating in a research report on Friday, October 2nd. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell increased their price objective on shares of Constellation Brands from $220.00 to $244.00 in a report on Friday, January 8th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Constellation Brands from $208.00 to $219.00 and gave the company a “hold” rating in a research note on Friday, January 8th. Finally, Atlantic Securities cut shares of Constellation Brands from an “overweight” rating to a “neutral” rating and set a $196.00 target price for the company. in a research report on Wednesday, October 14th. Nine analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $222.38.

In other news, Director Judy Schmeling sold 5,662 shares of the stock in a transaction dated Monday, November 30th. The shares were sold at an average price of $205.51, for a total value of $1,163,597.62. Following the completion of the transaction, the director now owns 9,938 shares of the company’s stock, valued at $2,042,358.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Robert Lee Hanson sold 6,101 shares of the firm’s stock in a transaction that occurred on Friday, January 8th. The shares were sold at an average price of $228.78, for a total transaction of $1,395,786.78. The disclosure for this sale can be found here. 15.77% of the stock is owned by insiders.

About Constellation Brands

Constellation Brands, Inc, together with its subsidiaries, produces, imports, and markets beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. It provides beer primarily under the Corona Extra, Corona Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands.

See Also: Initial Coin Offering (ICO)

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Institutional Ownership by Quarter for Constellation Brands (NYSE:STZ)

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