Washington Trust Bank Has $9.60 Million Stock Position in Constellation Brands, Inc. (NYSE:STZ)

Washington Trust Bank lowered its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 0.2% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 43,447 shares of the company’s stock after selling 93 shares during the quarter. Washington Trust Bank’s holdings in Constellation Brands were worth $9,602,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Mainstream Capital Management LLC acquired a new stake in shares of Constellation Brands during the fourth quarter worth $25,000. SBI Securities Co. Ltd. acquired a new position in Constellation Brands in the fourth quarter valued at about $26,000. Compagnie Lombard Odier SCmA acquired a new position in Constellation Brands in the fourth quarter valued at about $27,000. Union Bancaire Privee UBP SA acquired a new position in Constellation Brands in the fourth quarter valued at about $28,000. Finally, Versant Capital Management Inc raised its stake in 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 purchasing an additional 142 shares in the last quarter. Institutional investors and hedge funds own 77.34% of the company’s stock.

Insider Activity at Constellation Brands

In other Constellation Brands news, Director William T. Giles purchased 1,000 shares of the company’s stock in a transaction on Friday, January 17th. The shares were purchased at an average cost of $186.39 per share, with a total value of $186,390.00. Following the completion of the purchase, the director now owns 1,463 shares in the company, valued at $272,688.57. This represents a 215.98 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 12.19% of the stock is currently owned by company insiders.

Constellation Brands Stock Performance

Shares of STZ stock opened at $177.73 on Friday. The business’s 50 day simple moving average is $177.32 and its 200 day simple moving average is $217.28. Constellation Brands, Inc. has a one year low of $160.46 and a one year high of $274.87. The stock has a market capitalization of $32.12 billion, a PE ratio of 47.78, a PEG ratio of 1.52 and a beta of 1.75. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.10 and a quick ratio of 0.46.

Constellation Brands (NYSE:STZ) last announced its earnings results on Friday, January 10th. The company reported $3.25 EPS for the quarter, missing the consensus estimate 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 the consensus estimate of $2.53 billion. During the same quarter in the previous year, the company earned $3.19 earnings per share. The business’s revenue was down .3% on a year-over-year basis. As a group, research analysts forecast that Constellation Brands, Inc. will post 13.5 earnings per share for the current year.

Constellation Brands Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 7th were issued a $1.01 dividend. This represents a $4.04 annualized dividend and a yield of 2.27%. The ex-dividend date of this dividend was Friday, February 7th. Constellation Brands’s payout ratio is presently 108.60%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on STZ shares. TD Cowen dropped their price target on Constellation Brands from $270.00 to $260.00 and set a “hold” rating for the company in a research note on Wednesday, January 8th. Citigroup downgraded Constellation Brands from a “buy” rating to a “neutral” rating and dropped their price target for the company from $260.00 to $200.00 in a research note on Thursday. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $203.00 price target (down previously from $262.00) on shares of Constellation Brands in a research note on Monday, January 13th. UBS Group lowered their target price on Constellation Brands from $265.00 to $223.00 and set a “buy” rating for the company in a research note on Friday, January 17th. Finally, Roth Capital lowered their target price on Constellation Brands from $298.00 to $284.00 and set a “buy” rating for the company in a research note on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $250.41.

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.