Clearbridge Investments LLC Grows Position in Constellation Brands, Inc. (NYSE:STZ)

Clearbridge Investments LLC lifted its position in Constellation Brands, Inc. (NYSE:STZ - Free Report) by 3.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 742,458 shares of the company's stock after buying an additional 22,471 shares during the quarter. Clearbridge Investments LLC owned approximately 0.41% of Constellation Brands worth $164,083,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Arrowstreet Capital Limited Partnership purchased a new position in shares of Constellation Brands during the 4th quarter valued at $4,180,000. Allianz SE bought a new stake in Constellation Brands during the fourth quarter valued at $1,471,000. Allstate Corp purchased a new position in Constellation Brands during the fourth quarter worth about $1,102,000. Brown Brothers Harriman & Co. raised its holdings in shares of Constellation Brands by 4.5% in the 4th quarter. Brown Brothers Harriman & Co. now owns 1,988 shares of the company's stock valued at $439,000 after acquiring an additional 86 shares in the last quarter. Finally, DnB Asset Management AS boosted its position in shares of Constellation Brands by 8.9% during the 4th quarter. DnB Asset Management AS now owns 36,173 shares of the company's stock valued at $7,994,000 after acquiring an additional 2,968 shares during the last quarter. 77.34% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

STZ has been the subject of a number of research reports. Needham & Company LLC cut their price objective on Constellation Brands from $240.00 to $215.00 and set a "buy" rating for the company in a report on Thursday, March 27th. Roth Mkm cut their target price on Constellation Brands from $284.00 to $256.00 and set a "buy" rating for the company in a research note on Thursday. Barclays decreased their price target on shares of Constellation Brands from $205.00 to $203.00 and set an "overweight" rating on the stock in a research note on Thursday, March 27th. TD Cowen cut their price objective on shares of Constellation Brands from $270.00 to $260.00 and set a "hold" rating for the company in a research note on Wednesday, January 8th. Finally, UBS Group lowered their price target on shares of Constellation Brands from $265.00 to $223.00 and set a "buy" rating for the company in a research note on Friday, January 17th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat, Constellation Brands has a consensus rating of "Hold" and a consensus target price of $244.32.

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Insider Transactions at Constellation Brands

In other news, Director William T. Giles bought 1,000 shares of the company'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 purchase, the director now owns 1,463 shares in the company, valued at approximately $272,688.57. This represents a 215.98 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 12.19% of the stock is owned by insiders.

Constellation Brands Stock Down 1.1 %

NYSE STZ traded down $2.01 during trading hours on Thursday, reaching $180.72. 1,741,816 shares of the company's stock traded hands, compared to its average volume of 1,633,501. Constellation Brands, Inc. has a 52-week low of $160.46 and a 52-week high of $274.87. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.10 and a quick ratio of 0.46. The firm has a 50-day simple moving average of $177.29 and a 200 day simple moving average of $213.33. The firm has a market cap of $32.66 billion, a PE ratio of 48.62, a PEG ratio of 1.52 and a beta of 1.75.

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

Constellation Brands Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 7th were issued a dividend of $1.01 per share. The ex-dividend date was Friday, February 7th. This represents a $4.04 annualized dividend and a dividend yield of 2.24%. Constellation Brands's payout ratio is presently 108.60%.

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.