Envestnet Portfolio Solutions Inc. Reduces Stake in Constellation Brands, Inc. (NYSE:STZ)

Envestnet Portfolio Solutions Inc. trimmed its stake in Constellation Brands, Inc. (NYSE:STZ - Free Report) by 15.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,278 shares of the company's stock after selling 3,526 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Constellation Brands were worth $4,261,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Van ECK Associates Corp lifted its holdings in Constellation Brands by 1,844.7% during the fourth quarter. Van ECK Associates Corp now owns 924,274 shares of the company's stock valued at $204,265,000 after purchasing an additional 876,745 shares in the last quarter. Copperleaf Capital LLC bought a new stake in shares of Constellation Brands during the 4th quarter valued at $343,000. Grimes & Company Inc. purchased a new position in shares of Constellation Brands during the 4th quarter valued at $6,099,000. Empowered Funds LLC boosted its holdings in Constellation Brands by 62.8% in the 4th quarter. Empowered Funds LLC now owns 16,575 shares of the company's stock worth $3,663,000 after buying an additional 6,391 shares during the period. Finally, Southern Style Financial Inc. purchased a new stake in Constellation Brands in the 4th quarter worth $3,074,000. 77.34% of the stock is owned by institutional investors.

Insider Activity at Constellation Brands

In other Constellation Brands news, Director William T. Giles bought 1,000 shares of the company's stock in a transaction dated Friday, January 17th. The stock was acquired 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 directly owns 1,463 shares of the company's stock, valued at $272,688.57. This represents a 215.98 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 12.19% of the stock is owned by corporate insiders.

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Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Evercore ISI dropped 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. Needham & Company LLC restated a "buy" rating and issued a $240.00 price target on shares of Constellation Brands in a research note on Monday, January 27th. Jefferies Financial Group reaffirmed a "hold" rating and set a $201.00 price objective (down from $310.00) on shares of Constellation Brands in a report on Monday, January 13th. StockNews.com downgraded shares of Constellation Brands from a "hold" rating to a "sell" rating in a report on Friday, March 14th. Finally, Royal Bank of Canada cut their target price on shares of Constellation Brands from $293.00 to $289.00 and set an "outperform" rating for the company in a research note on Friday, March 7th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $250.41.

Constellation Brands Price Performance

STZ traded down $1.15 during midday trading on Friday, hitting $177.73. 6,618,182 shares of the company traded hands, compared to its average volume of 1,567,348. The company has a market capitalization of $32.12 billion, a price-to-earnings ratio of 47.78, a PEG ratio of 1.52 and a beta of 0.90. The business has a 50 day simple moving average of $177.32 and a two-hundred day simple moving average of $217.28. The company has a current ratio of 1.10, a quick ratio of 0.46 and a debt-to-equity ratio of 1.26. Constellation Brands, Inc. has a 52-week low of $160.46 and a 52-week high of $274.87.

Constellation Brands (NYSE:STZ - Get Free Report) last issued its quarterly earnings results 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 net margin of 6.27% and a return on equity of 26.55%. The company had revenue of $2.46 billion during the quarter, compared to analysts' expectations of $2.53 billion. During the same period in the prior year, the business posted $3.19 earnings per share. The company's quarterly revenue was down .3% compared to the same quarter last year. On average, equities analysts forecast that Constellation Brands, Inc. will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 7th were paid a $1.01 dividend. This represents a $4.04 annualized dividend and a yield of 2.27%. The ex-dividend date was Friday, February 7th. Constellation Brands's dividend payout ratio is currently 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.