Constellation Brands Inc $STZ Shares Sold by W.G. Shaheen & Associates DBA Whitney & Co

Key Points

• W.G. Shaheen & Associates DBA Whitney & Co reduced its stake in Constellation Brands by 93.3% in Q4, selling 86,619 shares and leaving 6,235 shares valued at about $860,000.
• Constellation beat quarterly EPS estimates at $1.90 (vs. $1.71) while revenue fell 11.3% YoY to $1.92 billion, and the company raised its quarterly dividend to $1.03 (annualized $4.12, ~2.7% yield).
• Shares opened at $150.44 (down ~3.2%), the company has a market cap of roughly $26.1 billion, and analysts hold a consensus rating of Moderate Buy with an average target of $178.14.

W.G. Shaheen & Associates DBA Whitney & Co lessened its holdings in shares of Constellation Brands Inc (NYSE:STZ - Free Report) by 93.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,235 shares of the company's stock after selling 86,619 shares during the period. W.G. Shaheen & Associates DBA Whitney & Co's holdings in Constellation Brands were worth $860,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in STZ. Ameriprise Financial Inc. increased its position in Constellation Brands by 650.6% during the second quarter. Ameriprise Financial Inc. now owns 1,769,741 shares of the company's stock worth $287,889,000 after buying an additional 1,533,961 shares during the period. Vanguard Group Inc. increased its position in Constellation Brands by 3.3% during the third quarter. Vanguard Group Inc. now owns 18,202,611 shares of the company's stock worth $2,451,346,000 after buying an additional 573,766 shares during the period. Worldquant Millennium Advisors LLC increased its position in Constellation Brands by 1,249.7% during the second quarter. Worldquant Millennium Advisors LLC now owns 476,702 shares of the company's stock worth $77,550,000 after buying an additional 441,382 shares during the period. Hotchkis & Wiley Capital Management LLC increased its position in Constellation Brands by 26.8% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 1,664,151 shares of the company's stock worth $224,111,000 after buying an additional 351,241 shares during the period. Finally, Van ECK Associates Corp increased its position in Constellation Brands by 15.5% during the third quarter. Van ECK Associates Corp now owns 2,160,202 shares of the company's stock worth $290,915,000 after buying an additional 290,701 shares during the period. Institutional investors and hedge funds own 77.34% of the company's stock.

Constellation Brands Trading Down 3.2%

Shares of STZ stock opened at $150.44 on Thursday. The business's fifty day moving average price is $154.62 and its 200 day moving average price is $147.60. Constellation Brands Inc has a 1-year low of $126.45 and a 1-year high of $196.91. The firm has a market capitalization of $26.09 billion, a PE ratio of 15.69, a P/E/G ratio of 3.40 and a beta of 0.44. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.08 and a quick ratio of 0.55.

Constellation Brands (NYSE:STZ - Get Free Report) last announced its quarterly earnings data on Wednesday, April 8th. The company reported $1.90 earnings per share for the quarter, topping analysts' consensus estimates of $1.71 by $0.19. Constellation Brands had a return on equity of 26.18% and a net margin of 17.29%.The firm had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same quarter in the prior year, the company posted $2.63 earnings per share. Constellation Brands's quarterly revenue was down 11.3% on a year-over-year basis. As a group, sell-side analysts forecast that Constellation Brands Inc will post 11.9 EPS for the current fiscal year.

Constellation Brands Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 14th. Shareholders of record on Wednesday, April 29th will be given a dividend of $1.03 per share. The ex-dividend date is Wednesday, April 29th. This is a positive change from Constellation Brands's previous quarterly dividend of $1.02. This represents a $4.12 dividend on an annualized basis and a yield of 2.7%. Constellation Brands's dividend payout ratio (DPR) is presently 42.54%.

Analysts Set New Price Targets

Several research firms have commented on STZ. Bank of America lifted their price target on Constellation Brands from $142.00 to $154.00 and gave the stock an "underperform" rating in a research report on Friday, April 10th. Needham & Company LLC boosted their target price on Constellation Brands from $180.00 to $185.00 and gave the company a "buy" rating in a report on Friday, April 10th. TD Cowen raised Constellation Brands from a "hold" rating to a "buy" rating and boosted their target price for the company from $142.00 to $190.00 in a report on Monday, April 13th. UBS Group boosted their target price on Constellation Brands from $176.00 to $186.00 and gave the company a "buy" rating in a report on Friday, April 10th. Finally, Wells Fargo & Company boosted their target price on Constellation Brands from $180.00 to $185.00 and gave the company an "overweight" rating in a report on Friday, April 10th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $178.14.

Constellation Brands Profile

Constellation Brands, Inc is a leading producer and marketer of beer, wine and spirits, with operations spanning production, importation, marketing and distribution. The company's beverage portfolio includes a range of premium and mainstream wines and spirits alongside major imported beer brands; in the U.S. market Constellation is widely known for its role in bringing Mexican imports such as Corona and Modelo to American consumers. Constellation supplies retail, on‑premise and foodservice channels and supports its brands with national sales and marketing platforms and supply‑chain capabilities.

The company traces its roots to the Canandaigua Wine Company, founded by Marvin Sands in 1945, and evolved through organic growth and acquisition into a diversified beverage company.

Want to see what other hedge funds are holding STZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Constellation Brands Inc (NYSE:STZ - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.