Azimuth Capital Investment Management LLC Lowers Stake in Constellation Brands, Inc. (NYSE:STZ)

Azimuth Capital Investment Management LLC trimmed its stake in Constellation Brands, Inc. (NYSE:STZ - Free Report) by 26.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 46,486 shares of the company's stock after selling 16,562 shares during the period. Azimuth Capital Investment Management LLC's holdings in Constellation Brands were worth $10,273,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Van ECK Associates Corp grew its stake in shares of Constellation Brands by 1,844.7% in the fourth quarter. Van ECK Associates Corp now owns 924,274 shares of the company's stock valued at $204,265,000 after buying an additional 876,745 shares in the last quarter. Copperleaf Capital LLC acquired a new stake in shares of Constellation Brands during the fourth quarter worth about $343,000. Grimes & Company Inc. purchased a new position in shares of Constellation Brands in the fourth quarter valued at approximately $6,099,000. Empowered Funds LLC grew its holdings in shares of Constellation Brands by 62.8% in the fourth quarter. Empowered Funds LLC now owns 16,575 shares of the company's stock valued at $3,663,000 after purchasing an additional 6,391 shares in the last quarter. Finally, Southern Style Financial Inc. purchased a new stake in shares of Constellation Brands during the fourth quarter worth $3,074,000. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Constellation Brands Price Performance

NYSE:STZ traded up $1.19 during mid-day trading on Monday, hitting $186.82. 571,425 shares of the company's stock traded hands, compared to its average volume of 2,876,774. The firm's 50 day simple moving average is $176.86 and its 200 day simple moving average is $208.70. The company has a market cap of $33.76 billion, a PE ratio of 50.22, a price-to-earnings-growth ratio of 1.52 and a beta of 1.75. Constellation Brands, Inc. has a 1 year low of $160.46 and a 1 year high of $265.70. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.46 and a current ratio of 1.10.

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Constellation Brands (NYSE:STZ - Get Free Report) last posted its quarterly earnings data on Wednesday, April 9th. The company reported $2.63 EPS for the quarter, beating analysts' consensus estimates 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 return on equity of 26.55% and a net margin of 6.27%. The business's revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter last year, the company earned $2.26 earnings per share. Sell-side analysts expect that Constellation Brands, Inc. will post 13.5 EPS for the current year.

Constellation Brands Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 29th will be paid a $1.02 dividend. This is a positive change from Constellation Brands's previous quarterly dividend of $1.01. This represents a $4.08 annualized dividend and a yield of 2.18%. The ex-dividend date is Tuesday, April 29th. Constellation Brands's dividend payout ratio is presently -792.16%.

Analyst Upgrades and Downgrades

STZ has been the subject of several recent research reports. Wells Fargo & Company decreased their price objective 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. JPMorgan Chase & Co. lowered 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. UBS Group reduced their price objective on shares of Constellation Brands from $265.00 to $223.00 and set a "buy" rating on the stock in a report on Friday, January 17th. Jefferies Financial Group reissued a "hold" rating and issued a $201.00 target price (down previously from $310.00) on shares of Constellation Brands in a report on Monday, January 13th. Finally, Morgan Stanley decreased their price target on Constellation Brands from $202.00 to $195.00 and set an "equal weight" rating for the company in a report on Friday. Eleven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $228.50.

Insider Buying and Selling

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 acquired at an average cost of $186.39 per share, for a total transaction of $186,390.00. Following the acquisition, the director now directly owns 1,463 shares in the company, valued at approximately $272,688.57. The trade was a 215.98 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 12.19% of the stock is currently owned by company insiders.

Constellation Brands 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.