Harbour Trust & Investment Management Co Reduces Position in Constellation Brands Inc (NYSE:STZ)

Harbour Trust & Investment Management Co trimmed its position in shares of Constellation Brands Inc (NYSE:STZ - Free Report) by 81.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,947 shares of the company's stock after selling 26,498 shares during the period. Harbour Trust & Investment Management Co's holdings in Constellation Brands were worth $1,091,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC grew its holdings in shares of Constellation Brands by 23.0% during the 4th quarter. Brighton Jones LLC now owns 1,001 shares of the company's stock worth $221,000 after acquiring an additional 187 shares during the period. Bank Pictet & Cie Europe AG raised its position in shares of Constellation Brands by 39.7% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 6,096 shares of the company's stock worth $1,347,000 after acquiring an additional 1,733 shares in the last quarter. SVB Wealth LLC bought a new position in shares of Constellation Brands in the 4th quarter worth approximately $715,000. Metis Global Partners LLC raised its position in shares of Constellation Brands by 30.4% in the 4th quarter. Metis Global Partners LLC now owns 7,262 shares of the company's stock worth $1,605,000 after acquiring an additional 1,692 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its stake in shares of Constellation Brands by 22.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,138 shares of the company's stock valued at $250,000 after purchasing an additional 209 shares in the last quarter. 77.34% of the stock is owned by institutional investors.

Analysts Set New Price Targets

STZ has been the subject of a number of analyst reports. Bernstein Bank decreased their target price on shares of Constellation Brands from $260.00 to $225.00 and set an "outperform" rating for the company in a research note on Thursday, April 10th. CJS Securities decreased their target price on shares of Constellation Brands from $196.00 to $194.00 in a research note on Monday, May 19th. Roth Mkm decreased their target price on shares of Constellation Brands from $284.00 to $256.00 and set a "buy" rating for the company in a research note on Thursday, April 3rd. JPMorgan Chase & Co. raised their target price on shares of Constellation Brands from $170.00 to $182.00 and gave the company a "neutral" rating in a research note on Thursday. Finally, Roth Capital decreased their target price on shares of Constellation Brands from $256.00 to $239.00 and set a "buy" rating for the company in a research note on Tuesday, May 20th. Eleven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat.com, Constellation Brands has an average rating of "Moderate Buy" and a consensus price target of $213.35.

Insider Transactions at Constellation Brands

In related news, EVP Samuel J. Glaetzer sold 3,150 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $188.54, for a total value of $593,901.00. Following the sale, the executive vice president owned 3,126 shares in the company, valued at approximately $589,376.04. This trade represents a 50.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 12.45% of the company's stock.

Constellation Brands Stock Performance

STZ stock traded down $1.26 on Friday, hitting $172.61. The company had a trading volume of 1,808,258 shares, compared to its average volume of 1,910,735. Constellation Brands Inc has a 12-month low of $159.35 and a 12-month high of $264.45. The company has a current ratio of 1.07, a quick ratio of 0.56 and a debt-to-equity ratio of 1.30. The stock's 50-day simple moving average is $177.11 and its 200 day simple moving average is $183.33. The stock has a market cap of $30.73 billion, a price-to-earnings ratio of -72.22, a P/E/G ratio of 9.57 and a beta of 0.67.

Constellation Brands (NYSE:STZ - Get Free Report) last issued its earnings results on Tuesday, July 1st. The company reported $3.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.45 by ($0.23). Constellation Brands had a positive return on equity of 31.41% and a negative net margin of 4.11%. The company had revenue of $2.52 billion during the quarter, compared to analysts' expectations of $2.57 billion. During the same quarter in the prior year, the business posted $3.57 EPS. The company's revenue for the quarter was down 5.5% compared to the same quarter last year. As a group, equities research analysts expect that Constellation Brands Inc will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Wednesday, July 30th will be issued a $1.02 dividend. This represents a $4.08 annualized dividend and a yield of 2.36%. The ex-dividend date is Wednesday, July 30th. Constellation Brands's dividend payout ratio is currently -170.71%.

Constellation Brands Company 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.