Scotia Capital Inc. Boosts Stake in Constellation Brands, Inc. (NYSE:STZ)

Scotia Capital Inc. grew its stake in Constellation Brands, Inc. (NYSE:STZ - Free Report) by 12.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,150 shares of the company's stock after purchasing an additional 4,016 shares during the quarter. Scotia Capital Inc.'s holdings in Constellation Brands were worth $8,210,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Mainstream Capital Management LLC acquired a new stake in Constellation Brands during the fourth quarter worth approximately $25,000. SBI Securities Co. Ltd. acquired a new position in Constellation Brands in the 4th quarter valued at $26,000. Compagnie Lombard Odier SCmA acquired a new stake in shares of Constellation Brands during the fourth quarter worth $27,000. Union Bancaire Privee UBP SA bought a new stake in shares of Constellation Brands in the fourth quarter valued at about $28,000. Finally, Versant Capital Management Inc boosted its position in shares of Constellation Brands by 887.5% in the fourth 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. Institutional investors own 77.34% of the company's stock.

Constellation Brands Stock Down 1.8 %

Constellation Brands stock traded down $3.46 during midday trading on Tuesday, hitting $183.81. 1,595,067 shares of the stock were exchanged, compared to its average volume of 1,694,221. Constellation Brands, Inc. has a 52-week low of $160.46 and a 52-week high of $265.70. The business's 50-day moving average price is $177.15 and its 200-day moving average price is $208.21. The stock has a market capitalization of $33.22 billion, a price-to-earnings ratio of 49.41, a price-to-earnings-growth ratio of 1.52 and a beta of 1.75. The company has a quick ratio of 0.46, a current ratio of 1.10 and a debt-to-equity ratio of 1.26.

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Constellation Brands (NYSE:STZ - Get Free Report) last issued its quarterly earnings results on Wednesday, April 9th. The company reported $2.63 EPS for the quarter, beating analysts' consensus estimates of $2.28 by $0.35. Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The firm had revenue of $2.13 billion for the quarter, compared to analysts' expectations of $2.14 billion. During the same quarter in the prior year, the firm earned $2.26 EPS. The business's revenue for the quarter was up 1.2% compared to the same quarter last year. On average, research analysts expect that Constellation Brands, Inc. will post 13.5 EPS for the current fiscal year.

Constellation Brands Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 29th will be given a dividend of $1.02 per share. The ex-dividend date is Tuesday, April 29th. This is a positive change from Constellation Brands's previous quarterly dividend of $1.01. This represents a $4.08 annualized dividend and a yield of 2.22%. Constellation Brands's payout ratio is presently -792.16%.

Insider Transactions at Constellation Brands

In other Constellation Brands news, Director William T. Giles acquired 1,000 shares of the stock in a transaction dated Friday, January 17th. The stock was purchased at an average cost of $186.39 per share, for a total transaction of $186,390.00. Following 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 position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 12.19% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

STZ has been the subject of a number of recent research reports. Argus downgraded shares of Constellation Brands from a "buy" rating to a "hold" rating in a report on Tuesday, January 14th. Jefferies Financial Group restated a "hold" rating and set a $201.00 price objective (down previously from $310.00) on shares of Constellation Brands in a research note on Monday, January 13th. UBS Group decreased their price target on Constellation Brands from $265.00 to $223.00 and set a "buy" rating on the stock in a research report on Friday, January 17th. Roth Mkm cut their price target on shares of Constellation Brands from $284.00 to $256.00 and set a "buy" rating for the company in a report on Thursday, April 3rd. Finally, JPMorgan Chase & Co. reduced their price objective on Constellation Brands from $203.00 to $194.00 and set a "neutral" rating on the stock in a research note on Friday. Eleven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $228.50.

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.