Carnegie Investment Counsel Sells 2,845 Shares of Constellation Brands, Inc. (NYSE:STZ)

Carnegie Investment Counsel reduced its position in Constellation Brands, Inc. (NYSE:STZ - Free Report) by 35.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,096 shares of the company's stock after selling 2,845 shares during the quarter. Carnegie Investment Counsel's holdings in Constellation Brands were worth $1,126,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Vanguard Personalized Indexing Management LLC increased its stake in Constellation Brands by 20.1% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 10,675 shares of the company's stock worth $2,694,000 after acquiring an additional 1,783 shares during the last quarter. Brighton Jones LLC grew its holdings in shares of Constellation Brands by 4.7% during the second quarter. Brighton Jones LLC now owns 950 shares of the company's stock worth $244,000 after purchasing an additional 43 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its position in shares of Constellation Brands by 14.1% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 3,118 shares of the company's stock worth $802,000 after purchasing an additional 385 shares during the last quarter. Benjamin Edwards Inc. raised its stake in Constellation Brands by 3,785.0% in the second quarter. Benjamin Edwards Inc. now owns 1,554 shares of the company's stock valued at $400,000 after purchasing an additional 1,514 shares in the last quarter. Finally, King Luther Capital Management Corp raised its stake in Constellation Brands by 14.1% in the second quarter. King Luther Capital Management Corp now owns 1,255 shares of the company's stock valued at $323,000 after purchasing an additional 155 shares in the last quarter. 77.34% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

STZ has been the topic of a number of research analyst reports. Jefferies Financial Group reissued 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. Argus cut Constellation Brands from a "buy" rating to a "hold" rating in a research note on Tuesday, January 14th. Needham & Company LLC reaffirmed a "buy" rating and set a $280.00 price target on shares of Constellation Brands in a research note on Friday, January 10th. Morgan Stanley cut their price objective on Constellation Brands from $280.00 to $220.00 and set an "overweight" rating for the company in a report on Monday, January 13th. Finally, Roth Capital decreased their price objective on Constellation Brands from $298.00 to $284.00 and set a "buy" rating on the stock in a report on Friday. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat.com, Constellation Brands has a consensus rating of "Moderate Buy" and a consensus target price of $259.05.

Constellation Brands Trading Down 0.3 %

Shares of NYSE STZ traded down $0.52 during trading hours on Friday, hitting $184.05. The company's stock had a trading volume of 2,839,837 shares, compared to its average volume of 1,501,511. Constellation Brands, Inc. has a 12 month low of $176.51 and a 12 month high of $274.87. The stock has a market cap of $33.26 billion, a price-to-earnings ratio of 49.48, a P/E/G ratio of 1.28 and a beta of 1.75. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.53 and a current ratio of 1.25. The business has a 50-day simple moving average of $226.75 and a 200-day simple moving average of $238.82.

Constellation Brands (NYSE:STZ - Get Free Report) last issued its quarterly earnings data on Friday, January 10th. The company reported $3.25 earnings per share for the quarter, missing analysts' consensus estimates of $3.33 by ($0.08). Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The business had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.53 billion. During the same quarter in the prior year, the business posted $3.19 earnings per share. Constellation Brands's quarterly revenue was down .3% compared to the same quarter last year. On average, analysts anticipate that Constellation Brands, Inc. will post 13.72 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Friday, February 7th will be given a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date is Friday, February 7th. Constellation Brands's payout ratio is currently 108.60%.

Insiders Place Their Bets

In other news, major shareholder Wildstar Partners Llc sold 660 shares of the business's stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $241.00, for a total transaction of $159,060.00. Following the sale, the insider now owns 1,736,884 shares in the company, valued at approximately $418,589,044. The trade was a 0.04 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO William A. Newlands sold 25,000 shares of the stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $243.58, for a total transaction of $6,089,500.00. Following the completion of the transaction, the chief executive officer now owns 7,274 shares of the company's stock, valued at approximately $1,771,800.92. The trade was a 77.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 69,172 shares of company stock worth $16,778,841. 12.19% of the stock is currently owned by corporate insiders.

About Constellation Brands

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.