Bank of New York Mellon Corp Sells 48,423 Shares of Constellation Brands, Inc. (NYSE:STZ)

Bank of New York Mellon Corp lessened its holdings in Constellation Brands, Inc. (NYSE:STZ) by 5.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 893,944 shares of the company’s stock after selling 48,423 shares during the period. Bank of New York Mellon Corp’s holdings in Constellation Brands were worth $197,562,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. State Street Corp increased its position in Constellation Brands by 6.0% in the 3rd quarter. State Street Corp now owns 7,144,428 shares of the company’s stock valued at $1,841,048,000 after acquiring an additional 402,211 shares during the period. Janus Henderson Group PLC increased its holdings in Constellation Brands by 1.2% in the third quarter. Janus Henderson Group PLC now owns 1,853,081 shares of the company’s stock valued at $477,515,000 after purchasing an additional 21,454 shares during the period. Van ECK Associates Corp lifted its holdings in Constellation Brands by 1,844.7% during the 4th quarter. Van ECK Associates Corp now owns 924,274 shares of the company’s stock worth $204,265,000 after buying an additional 876,745 shares during the period. National Pension Service grew its position in shares of Constellation Brands by 13.6% in the 3rd quarter. National Pension Service now owns 381,755 shares of the company’s stock valued at $98,374,000 after buying an additional 45,707 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its stake in shares of Constellation Brands by 66.3% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 369,966 shares of the company’s stock valued at $81,762,000 after buying an additional 147,457 shares during the period. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director William T. Giles purchased 1,000 shares of the stock in a transaction that occurred on Friday, January 17th. The stock was acquired at an average cost of $186.39 per share, with a total value of $186,390.00. Following the transaction, the director now owns 1,463 shares of the company’s stock, valued at $272,688.57. This represents a 215.98 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 12.19% of the company’s stock.

Constellation Brands Price Performance

Shares of STZ opened at $173.43 on Friday. The stock has a market cap of $31.34 billion, a P/E ratio of 46.62, a P/E/G ratio of 1.52 and a beta of 1.75. The business’s fifty day moving average is $190.04 and its 200 day moving average is $224.16. The company has a quick ratio of 0.46, a current ratio of 1.10 and a debt-to-equity ratio of 1.26. Constellation Brands, Inc. has a 12-month low of $160.46 and a 12-month high of $274.87.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings data on Friday, January 10th. The company reported $3.25 earnings per share (EPS) 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 business had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.53 billion. During the same quarter in the prior year, the business earned $3.19 earnings per share. The firm’s quarterly revenue was down .3% compared to the same quarter last year. Sell-side analysts anticipate that Constellation Brands, Inc. will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 7th were paid a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 2.33%. The ex-dividend date was Friday, February 7th. Constellation Brands’s dividend payout ratio (DPR) is presently 108.60%.

Analysts Set New Price Targets

STZ has been the topic of a number of recent analyst reports. Argus lowered Constellation Brands from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. UBS Group dropped 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. StockNews.com cut shares of Constellation Brands from a “hold” rating to a “sell” rating in a research report on Wednesday. BNP Paribas began coverage on shares of Constellation Brands in a report on Monday, November 25th. They issued a “neutral” rating and a $261.00 target price on the stock. Finally, Needham & Company LLC reiterated a “buy” rating and set a $240.00 price target on shares of Constellation Brands in a report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $253.43.

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.