Constellation Brands Inc (NYSE:STZ) Shares Sold by AMI Asset Management Corp

AMI Asset Management Corp lessened its holdings in Constellation Brands Inc (NYSE:STZ) by 4.4% in the first quarter, HoldingsChannel.com reports. The firm owned 153,372 shares of the company’s stock after selling 7,027 shares during the period. AMI Asset Management Corp’s holdings in Constellation Brands were worth $28,147,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the business. Piscataqua Savings Bank boosted its holdings in Constellation Brands by 1.7% in the first quarter. Piscataqua Savings Bank now owns 3,720 shares of the company’s stock worth $683,000 after purchasing an additional 62 shares during the period. Moody National Bank Trust Division boosted its holdings in Constellation Brands by 0.9% in the first quarter. Moody National Bank Trust Division now owns 6,991 shares of the company’s stock worth $1,283,000 after purchasing an additional 64 shares during the period. Bessemer Group Inc. boosted its holdings in Constellation Brands by 3.0% in the first quarter. Bessemer Group Inc. now owns 2,242 shares of the company’s stock worth $412,000 after purchasing an additional 65 shares during the period. Barden Capital Management Inc. boosted its holdings in Constellation Brands by 1.3% in the fourth quarter. Barden Capital Management Inc. now owns 5,574 shares of the company’s stock worth $1,232,000 after purchasing an additional 72 shares during the period. Finally, Creative Financial Designs Inc. ADV boosted its holdings in Constellation Brands by 9.7% in the first quarter. Creative Financial Designs Inc. ADV now owns 890 shares of the company’s stock worth $163,000 after purchasing an additional 79 shares during the period. Institutional investors and hedge funds own 77.34% of the company’s stock.

Constellation Brands Stock Down 1.8%

Shares of Constellation Brands stock opened at $161.56 on Thursday. The stock has a market capitalization of $28.76 billion, a P/E ratio of -316.78, a PEG ratio of 9.07 and a beta of 0.70. The company has a quick ratio of 0.56, a current ratio of 0.92 and a debt-to-equity ratio of 1.30. The stock has a 50 day moving average price of $179.85 and a two-hundred day moving average price of $187.09. Constellation Brands Inc has a 12-month low of $159.35 and a 12-month high of $264.45.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings results on Wednesday, April 9th. The company reported $2.63 EPS for the quarter, topping analysts’ consensus estimates of $2.28 by $0.35. Constellation Brands had a positive return on equity of 29.56% and a negative net margin of 0.74%. The company had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.14 billion. During the same period in the previous year, the company earned $2.26 earnings per share. The company’s quarterly revenue was up 1.2% compared to the same quarter last year. Equities analysts expect that Constellation Brands Inc will post 13.5 earnings per share for the current year.

Constellation Brands Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Tuesday, April 29th were given a $1.02 dividend. This represents a $4.08 annualized dividend and a dividend yield of 2.53%. This is a boost from Constellation Brands’s previous quarterly dividend of $1.01. The ex-dividend date was Tuesday, April 29th. Constellation Brands’s dividend payout ratio is currently -800.00%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on STZ. JPMorgan Chase & Co. reduced their price target on shares of Constellation Brands from $203.00 to $194.00 and set a “neutral” rating for the company in a report on Friday, April 11th. Jefferies Financial Group reduced their price target on shares of Constellation Brands from $201.00 to $196.00 in a report on Friday, April 11th. Royal Bank Of Canada reduced their price target on shares of Constellation Brands from $289.00 to $233.00 and set an “outperform” rating for the company in a report on Monday, April 14th. DA Davidson reduced their price target on shares of Constellation Brands from $272.00 to $241.00 in a report on Friday, April 11th. Finally, Bernstein Bank reduced their price target on shares of Constellation Brands from $260.00 to $225.00 and set an “outperform” rating for the company in a report on Thursday, April 10th. Eleven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $213.17.

Insider Activity

In other news, EVP Samuel J. Glaetzer sold 3,150 shares of the stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $188.54, for a total value of $593,901.00. Following the completion of the sale, the executive vice president now directly owns 3,126 shares of the company’s stock, valued at approximately $589,376.04. This represents a 50.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 12.45% of the stock is 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.