Scotia Capital Inc. Increases Stake in Constellation Brands, Inc. (NYSE:STZ)

Scotia Capital Inc. increased its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 12.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 37,150 shares of the company’s stock after purchasing an additional 4,016 shares during the period. Scotia Capital Inc.’s holdings in Constellation Brands were worth $8,210,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Mainstream Capital Management LLC purchased a new position in shares of Constellation Brands during the fourth quarter valued at approximately $25,000. SBI Securities Co. Ltd. bought a new stake in shares of Constellation Brands during the 4th quarter worth approximately $26,000. Compagnie Lombard Odier SCmA purchased a new position in Constellation Brands during the 4th quarter valued at $27,000. Union Bancaire Privee UBP SA bought a new position in Constellation Brands in the 4th quarter valued at $28,000. Finally, Versant Capital Management Inc grew its position in Constellation Brands by 887.5% in the 4th quarter. Versant Capital Management Inc now owns 158 shares of the company’s stock valued at $35,000 after acquiring an additional 142 shares during the last quarter. 77.34% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Citigroup lowered shares of Constellation Brands from a “buy” rating to a “neutral” rating and lowered their target price for the company from $260.00 to $200.00 in a research note on Thursday, March 20th. Wells Fargo & Company lowered their price objective on shares of Constellation Brands from $230.00 to $210.00 and set an “overweight” rating for the company in a research report on Wednesday, April 2nd. Evercore ISI reduced their target price on shares of Constellation Brands from $300.00 to $250.00 and set an “outperform” rating on the stock in a research report on Monday, January 13th. Jefferies Financial Group reiterated a “hold” rating and issued a $201.00 price target (down previously from $310.00) on shares of Constellation Brands in a report on Monday, January 13th. Finally, Morgan Stanley downgraded Constellation Brands from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $220.00 to $202.00 in a report on Thursday, February 27th. Eleven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $240.65.

Constellation Brands Stock Up 0.7 %

Shares of Constellation Brands stock opened at $184.61 on Friday. 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 company has a market cap of $33.36 billion, a P/E ratio of 49.63, a PEG ratio of 1.52 and a beta of 1.75. The firm’s 50 day moving average price is $176.60 and its 200-day moving average price is $209.49. Constellation Brands, Inc. has a 52-week low of $160.46 and a 52-week high of $274.87.

Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Wednesday, April 9th. The company reported $2.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.28 by $0.35. The business had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.14 billion. Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. The business’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same period in the previous year, the company earned $2.26 earnings per share. On average, sell-side analysts predict that Constellation Brands, Inc. will post 13.5 EPS for the current fiscal year.

Insider Buying and Selling at Constellation Brands

In related news, Director William T. Giles acquired 1,000 shares of the business’s stock in a transaction dated Friday, January 17th. The shares were purchased at an average price of $186.39 per share, for a total transaction of $186,390.00. Following the completion of the acquisition, the director now directly 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 Securities & Exchange Commission, which can be accessed through the SEC website. 12.19% of the stock is currently owned by company 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.