Empire Life Investments Inc. Sells 4,114 Shares of Constellation Brands, Inc. (NYSE:STZ)

Empire Life Investments Inc. cut its holdings in Constellation Brands, Inc. (NYSE:STZ - Free Report) by 5.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 73,040 shares of the company's stock after selling 4,114 shares during the period. Empire Life Investments Inc.'s holdings in Constellation Brands were worth $16,142,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in STZ. Compagnie Lombard Odier SCmA purchased a new position in Constellation Brands in the 4th quarter valued at about $27,000. Union Bancaire Privee UBP SA acquired a new stake in Constellation Brands during the 4th quarter worth approximately $28,000. Versant Capital Management Inc increased its position in Constellation Brands by 887.5% during the 4th quarter. Versant Capital Management Inc now owns 158 shares of the company's stock worth $35,000 after purchasing an additional 142 shares in the last quarter. Eastern Bank acquired a new stake in Constellation Brands in the third quarter valued at approximately $39,000. Finally, FSA Wealth Management LLC acquired a new stake in Constellation Brands in the third quarter valued at approximately $42,000. 77.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Constellation Brands

In other Constellation Brands news, Director William T. Giles acquired 1,000 shares of the stock in a transaction that occurred on Friday, January 17th. The shares were bought at an average price of $186.39 per share, for a total transaction of $186,390.00. Following the completion of the transaction, the director now owns 1,463 shares of the company's stock, valued at approximately $272,688.57. This represents a 215.98 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 12.19% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently commented on STZ shares. Jefferies Financial Group reiterated a "hold" rating and set a $201.00 target price (down from $310.00) on shares of Constellation Brands in a research note on Monday, January 13th. Barclays dropped their target price on Constellation Brands from $282.00 to $214.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 14th. Evercore ISI cut their price objective on shares of Constellation Brands from $300.00 to $250.00 and set an "outperform" rating on the stock in a research note on Monday, January 13th. Roth Capital dropped their price target on shares of Constellation Brands from $298.00 to $284.00 and set a "buy" rating on the stock in a research report on Friday, January 17th. Finally, StockNews.com upgraded Constellation Brands from a "sell" rating to a "hold" rating in a report on Thursday, February 13th. Ten analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $254.29.

Constellation Brands Stock Up 1.8 %

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

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). The business had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.53 billion. Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. The business's revenue was down .3% on a year-over-year basis. During the same period in the prior year, the company earned $3.19 earnings per share. As a group, research analysts forecast that Constellation Brands, Inc. will post 13.5 EPS for the current year.

Constellation Brands Dividend Announcement

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

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.