Evercore Wealth Management LLC Trims Stock Holdings in Constellation Brands, Inc. (NYSE:STZ)

Evercore Wealth Management LLC lowered its position in Constellation Brands, Inc. (NYSE:STZ - Free Report) by 1.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 355,578 shares of the company's stock after selling 3,939 shares during the period. Evercore Wealth Management LLC owned 0.20% of Constellation Brands worth $78,583,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of STZ. World Investment Advisors LLC raised its position in Constellation Brands by 36.6% in the 3rd quarter. World Investment Advisors LLC now owns 2,550 shares of the company's stock valued at $657,000 after buying an additional 683 shares during the last quarter. Arvest Bank Trust Division purchased a new position in Constellation Brands in the third quarter valued at about $243,000. Wilmington Savings Fund Society FSB lifted its stake in Constellation Brands by 260.7% in the third quarter. Wilmington Savings Fund Society FSB now owns 20,495 shares of the company's stock valued at $5,281,000 after purchasing an additional 14,813 shares during the last quarter. Oddo BHF Asset Management Sas bought a new position in Constellation Brands in the 3rd quarter worth approximately $223,000. Finally, Copley Financial Group Inc. bought a new stake in Constellation Brands during the 3rd quarter valued at $455,000. Institutional investors own 77.34% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Royal Bank of Canada dropped their price objective on Constellation Brands from $289.00 to $233.00 and set an "outperform" rating on the stock in a report on Monday, April 14th. The Goldman Sachs Group reduced their target price on Constellation Brands from $260.00 to $225.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. Wells Fargo & Company dropped their price target on Constellation Brands from $230.00 to $210.00 and set an "overweight" rating for the company in a research note on Wednesday, April 2nd. Piper Sandler cut Constellation Brands from an "overweight" rating to a "neutral" rating and decreased their price objective for the company from $245.00 to $200.00 in a report on Monday, February 3rd. Finally, Morgan Stanley cut their target price on Constellation Brands from $202.00 to $195.00 and set an "equal weight" rating for the company in a research note on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat.com, Constellation Brands currently has an average rating of "Hold" and an average target price of $224.42.

Constellation Brands Trading Down 0.1 %

STZ traded down $0.18 during trading hours on Monday, reaching $185.18. 668,835 shares of the company's stock traded hands, compared to its average volume of 1,707,812. Constellation Brands, Inc. has a 52-week low of $160.46 and a 52-week high of $265.70. The firm has a market capitalization of $33.47 billion, a PE ratio of 49.82, a PEG ratio of 1.52 and a beta of 1.75. The firm has a 50-day moving average price of $180.88 and a 200 day moving average price of $204.36. 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 (NYSE:STZ - Get Free Report) last posted its quarterly earnings results on Wednesday, April 9th. The company reported $2.63 EPS for the quarter, topping the consensus estimate of $2.28 by $0.35. The company had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.14 billion. Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. The firm's revenue was up 1.2% compared to the same quarter last year. During the same quarter last year, the firm posted $2.26 EPS. As a group, sell-side analysts predict that Constellation Brands, Inc. will post 13.5 EPS for the current fiscal year.

Constellation Brands Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 29th will be given a dividend of $1.02 per share. 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 2.20%. The ex-dividend date is Tuesday, April 29th. Constellation Brands's dividend payout ratio is currently -800.00%.

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.