NewEdge Advisors LLC Buys 3,236 Shares of Constellation Brands, Inc. (NYSE:STZ)

NewEdge Advisors LLC grew its position in shares of Constellation Brands, Inc. (NYSE:STZ - Free Report) by 48.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,853 shares of the company's stock after purchasing an additional 3,236 shares during the quarter. NewEdge Advisors LLC's holdings in Constellation Brands were worth $2,178,000 as of its most recent SEC filing.

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

Constellation Brands Stock Performance

STZ traded down $2.14 during trading on Friday, hitting $185.36. 1,054,280 shares of the company traded hands, compared to its average volume of 1,703,988. 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 firm has a market cap of $33.50 billion, a P/E ratio of 49.83, a price-to-earnings-growth ratio of 1.52 and a beta of 1.75. Constellation Brands, Inc. has a one year low of $160.46 and a one year high of $265.70. The stock's fifty day moving average is $180.56 and its 200 day moving average is $205.23.

Constellation Brands (NYSE:STZ - Get Free Report) last announced its quarterly earnings data on Wednesday, April 9th. The company reported $2.63 earnings per share for the quarter, beating the consensus estimate of $2.28 by $0.35. The business had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.14 billion. Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. Constellation Brands's revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the company earned $2.26 earnings per share. As a group, equities analysts predict that Constellation Brands, Inc. will post 13.5 EPS for the current fiscal year.

Constellation Brands Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 29th will be paid a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a yield of 2.20%. This is a positive change from Constellation Brands's previous quarterly dividend of $1.01. The ex-dividend date of this dividend is Tuesday, April 29th. Constellation Brands's payout ratio is currently -800.00%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on STZ shares. TD Cowen dropped their price target on shares of Constellation Brands from $270.00 to $260.00 and set a "hold" rating on the stock in a research report on Wednesday, January 8th. UBS Group cut their price target on shares of Constellation Brands from $265.00 to $223.00 and set a "buy" rating on the stock in a research report on Friday, January 17th. Citigroup lowered their price objective on shares of Constellation Brands from $200.00 to $190.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. JPMorgan Chase & Co. dropped their target price on shares of Constellation Brands from $203.00 to $194.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Finally, Argus cut shares of Constellation Brands from a "buy" rating to a "hold" rating in a report on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat, Constellation Brands currently has a consensus rating of "Hold" and an average target price of $224.42.

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.