Prudential Financial Inc. Reduces Stock Position in Constellation Brands, Inc. (NYSE:STZ)

Prudential Financial Inc. trimmed its stake in Constellation Brands, Inc. (NYSE:STZ - Free Report) by 19.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 86,509 shares of the company's stock after selling 20,328 shares during the period. Prudential Financial Inc.'s holdings in Constellation Brands were worth $19,118,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the stock. Mainstream Capital Management LLC purchased a new stake in Constellation Brands in the fourth quarter valued at approximately $25,000. SBI Securities Co. Ltd. acquired a new stake in shares of Constellation Brands in the fourth quarter valued at $26,000. Compagnie Lombard Odier SCmA purchased a new stake in shares of Constellation Brands in the 4th quarter valued at $27,000. Union Bancaire Privee UBP SA acquired a new position in Constellation Brands during the 4th quarter worth about $28,000. Finally, Versant Capital Management Inc boosted its holdings in Constellation Brands by 887.5% during the 4th quarter. Versant Capital Management Inc now owns 158 shares of the company's stock valued at $35,000 after acquiring an additional 142 shares during the period. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Constellation Brands Stock Performance

STZ traded up $1.18 on Monday, hitting $184.92. 277,909 shares of the company traded hands, compared to its average volume of 1,622,724. Constellation Brands, Inc. has a 12-month low of $160.46 and a 12-month high of $274.87. The company has a 50 day moving average of $177.19 and a 200-day moving average of $214.50. The company has a quick ratio of 0.46, a current ratio of 1.10 and a debt-to-equity ratio of 1.26. The stock has a market capitalization of $33.42 billion, a PE ratio of 49.78, a PEG ratio of 1.52 and a beta of 1.75.

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Constellation Brands (NYSE:STZ - Get Free Report) last released its quarterly 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 return on equity of 26.55% and a net margin of 6.27%. Constellation Brands's revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter last year, the company earned $3.19 EPS. Sell-side analysts anticipate that Constellation Brands, Inc. will post 13.5 earnings per share for the current year.

Constellation Brands Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 7th were paid a dividend of $1.01 per share. The ex-dividend date was Friday, February 7th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 2.18%. Constellation Brands's dividend payout ratio (DPR) is 108.60%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on STZ. Royal Bank of Canada reduced their price target on shares of Constellation Brands from $293.00 to $289.00 and set an "outperform" rating on the stock in a research report on Friday, March 7th. Needham & Company LLC decreased their price target on shares of Constellation Brands from $240.00 to $215.00 and set a "buy" rating for the company in a research report on Thursday. Citigroup downgraded shares of Constellation Brands from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $260.00 to $200.00 in a research note on Thursday, March 20th. Morgan Stanley lowered Constellation Brands from an "overweight" rating to an "equal weight" rating and decreased their target price for the company from $220.00 to $202.00 in a report on Thursday, February 27th. Finally, TD Cowen cut their price target on Constellation Brands from $270.00 to $260.00 and set a "hold" rating on the stock in a report on Wednesday, January 8th. One 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. According to data from MarketBeat.com, Constellation Brands has a consensus rating of "Hold" and an average price target of $249.18.

Insider Buying and Selling

In other Constellation Brands news, Director William T. Giles bought 1,000 shares of Constellation Brands stock in a transaction on Friday, January 17th. The stock was bought at an average price 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 in the company, valued at $272,688.57. The trade was a 215.98 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 12.19% of the stock is currently owned by corporate 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.