Constellation Brands, Inc. (NYSE:STZ) Shares Bought by Bank Pictet & Cie Europe AG

Bank Pictet & Cie Europe AG raised its stake in shares of Constellation Brands, Inc. (NYSE:STZ - Free Report) by 39.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,096 shares of the company's stock after acquiring an additional 1,733 shares during the quarter. Bank Pictet & Cie Europe AG's holdings in Constellation Brands were worth $1,347,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Compagnie Lombard Odier SCmA purchased a new position in Constellation Brands in the fourth quarter valued at about $27,000. Union Bancaire Privee UBP SA acquired a new stake in Constellation Brands in the fourth quarter valued at approximately $28,000. Eastern Bank acquired a new stake in Constellation Brands in the third quarter valued at approximately $39,000. Versant Capital Management Inc grew its holdings in Constellation Brands by 887.5% in the fourth quarter. Versant Capital Management Inc now owns 158 shares of the company's stock worth $35,000 after purchasing an additional 142 shares during the last quarter. Finally, FSA Wealth Management LLC acquired a new position in shares of Constellation Brands during the third quarter worth $42,000. 77.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on STZ shares. Morgan Stanley cut their price objective on shares of Constellation Brands from $280.00 to $220.00 and set an "overweight" rating on the stock in a report on Monday, January 13th. Royal Bank of Canada reiterated an "outperform" rating and set a $293.00 price objective on shares of Constellation Brands in a research note on Monday, February 3rd. Jefferies Financial Group reissued a "hold" rating and issued a $201.00 target price (down from $310.00) on shares of Constellation Brands in a research report on Monday, January 13th. StockNews.com upgraded Constellation Brands from a "sell" rating to a "hold" rating in a research note on Thursday, February 13th. Finally, Evercore ISI reduced their price objective on Constellation Brands from $300.00 to $250.00 and set an "outperform" rating for the company in a research note on Monday, January 13th. Ten research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $254.29.

Constellation Brands Trading Up 1.8 %

STZ traded up $3.09 on Wednesday, reaching $172.47. 3,206,581 shares of the company's stock were exchanged, compared to its average volume of 2,850,917. Constellation Brands, Inc. has a twelve month low of $160.46 and a twelve month high of $274.87. The company's 50 day moving average is $198.25 and its 200-day moving average is $227.06. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.46 and a current ratio of 1.10. The company has a market cap of $31.17 billion, a price-to-earnings ratio of 46.36, a PEG ratio of 1.44 and a beta of 0.90.

Constellation Brands (NYSE:STZ - Get Free Report) last announced its earnings results on Friday, January 10th. The company reported $3.25 EPS for the quarter, missing the consensus estimate of $3.33 by ($0.08). The company had revenue of $2.46 billion for the quarter, compared to analysts' expectations of $2.53 billion. Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. The business's quarterly revenue was down .3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.19 earnings per share. Equities analysts predict that Constellation Brands, Inc. will post 13.5 earnings per share for the current year.

Constellation Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Friday, February 7th will be given a $1.01 dividend. The ex-dividend date is Friday, February 7th. This represents a $4.04 annualized dividend and a dividend yield of 2.34%. Constellation Brands's payout ratio is 108.60%.

Insider Activity

In related news, Director William T. Giles bought 1,000 shares of the stock in a transaction dated Friday, January 17th. The stock was bought at an average cost of $186.39 per share, with a total value of $186,390.00. Following the completion of the acquisition, the director now owns 1,463 shares of the company's stock, valued at $272,688.57. This trade represents a 215.98 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 12.19% of the company's stock.

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.