International Assets Investment Management LLC Sells 498,349 Shares of Constellation Brands, Inc. (NYSE:STZ)

International Assets Investment Management LLC lessened its holdings in Constellation Brands, Inc. (NYSE:STZ - Free Report) by 99.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,340 shares of the company's stock after selling 498,349 shares during the quarter. International Assets Investment Management LLC's holdings in Constellation Brands were worth $298,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Versant Capital Management Inc increased its position in Constellation Brands by 887.5% in the fourth quarter. Versant Capital Management Inc now owns 158 shares of the company's stock worth $35,000 after buying an additional 142 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in Constellation Brands in the 2nd quarter valued at approximately $36,000. Eastern Bank bought a new position in shares of Constellation Brands in the third quarter worth $39,000. FSA Wealth Management LLC purchased a new position in Constellation Brands during the 3rd quarter valued at about $42,000. Finally, Fairfield Financial Advisors LTD purchased a new position in shares of Constellation Brands during the 2nd quarter valued at $57,000. 77.34% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Evercore ISI decreased their target price on Constellation Brands from $310.00 to $300.00 and set an "outperform" rating on the stock in a research note on Friday, October 4th. TD Cowen cut their price objective on Constellation Brands from $270.00 to $260.00 and set a "hold" rating for the company in a report on Wednesday, January 8th. JPMorgan Chase & Co. lowered their target price on shares of Constellation Brands from $293.00 to $262.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 7th. Barclays cut their price target on shares of Constellation Brands from $300.00 to $282.00 and set an "overweight" rating for the company in a research note on Wednesday, January 8th. Finally, Royal Bank of Canada restated an "outperform" rating and set a $308.00 price objective on shares of Constellation Brands in a research report on Tuesday, January 7th. Five research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $284.75.

Insider Activity

In other Constellation Brands news, Director Robert Sands sold 119,274 shares of Constellation Brands stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $242.37, for a total transaction of $28,908,439.38. Following the completion of the transaction, the director now owns 431,729 shares in the company, valued at approximately $104,638,157.73. The trade was a 21.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William A. Newlands sold 7,426 shares of the business's stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $237.24, for a total value of $1,761,744.24. Following the completion of the sale, the chief executive officer now directly owns 7,274 shares in the company, valued at $1,725,683.76. This trade represents a 50.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 188,446 shares of company stock valued at $45,687,281. Insiders own 12.19% of the company's stock.

Constellation Brands Price Performance

STZ opened at $181.57 on Monday. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.25 and a quick ratio of 0.53. The stock's 50 day simple moving average is $231.88 and its 200 day simple moving average is $241.28. The firm has a market cap of $32.97 billion, a price-to-earnings ratio of 58.76, a PEG ratio of 1.69 and a beta of 1.75. Constellation Brands, Inc. has a 1 year low of $179.55 and a 1 year high of $274.87.

Constellation Brands (NYSE:STZ - Get Free Report) last issued 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 return on equity of 25.34% and a net margin of 5.29%. The firm 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 EPS. The firm's revenue for the quarter was down .3% on a year-over-year basis. As a group, analysts predict that Constellation Brands, Inc. will post 13.57 earnings per share for the current year.

Constellation Brands Announces Dividend

The company 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 $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date of this dividend is Friday, February 7th. Constellation Brands's payout ratio is 130.74%.

Constellation Brands 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.