Envestnet Asset Management Inc. Cuts Stock Position in Constellation Brands Inc (NYSE:STZ)

Envestnet Asset Management Inc. decreased its holdings in shares of Constellation Brands Inc (NYSE:STZ - Free Report) by 16.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 309,020 shares of the company's stock after selling 61,450 shares during the period. Envestnet Asset Management Inc. owned about 0.17% of Constellation Brands worth $56,711,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Atlantic Edge Private Wealth Management LLC lifted its holdings in Constellation Brands by 94.1% during the first quarter. Atlantic Edge Private Wealth Management LLC now owns 8,050 shares of the company's stock valued at $1,477,000 after purchasing an additional 3,903 shares in the last quarter. Compass Wealth Management LLC raised its position in shares of Constellation Brands by 17.3% during the 1st quarter. Compass Wealth Management LLC now owns 43,643 shares of the company's stock worth $8,009,000 after purchasing an additional 6,436 shares during the last quarter. Vickerman Investment Advisors Inc. purchased a new position in Constellation Brands in the 1st quarter valued at about $442,000. Whelan Financial acquired a new stake in Constellation Brands in the 1st quarter worth about $475,000. Finally, Concurrent Investment Advisors LLC increased its stake in Constellation Brands by 114.3% during the 1st quarter. Concurrent Investment Advisors LLC now owns 2,023 shares of the company's stock worth $371,000 after buying an additional 1,079 shares in the last quarter. Institutional investors and hedge funds own 77.34% of the company's stock.

Constellation Brands Price Performance

Constellation Brands stock opened at $172.27 on Friday. The company's 50 day simple moving average is $175.56 and its 200-day simple moving average is $181.71. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.68 and a current ratio of 1.07. Constellation Brands Inc has a 1 year low of $159.35 and a 1 year high of $264.45. The company has a market capitalization of $30.67 billion, a price-to-earnings ratio of -72.08, a price-to-earnings-growth ratio of 10.42 and a beta of 0.67.

Constellation Brands (NYSE:STZ - Get Free Report) last announced its earnings results on Tuesday, July 1st. The company reported $3.22 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.45 by ($0.23). Constellation Brands had a negative net margin of 4.11% and a positive return on equity of 31.41%. The firm had revenue of $2.52 billion during the quarter, compared to analysts' expectations of $2.57 billion. During the same period in the previous year, the firm earned $3.57 EPS. The firm'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 year.

Constellation Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Wednesday, July 30th will be given a dividend of $1.02 per share. The ex-dividend date is Wednesday, July 30th. This represents a $4.08 annualized dividend and a dividend yield of 2.37%. Constellation Brands's dividend payout ratio is presently -170.71%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on STZ shares. Citigroup lifted their price target on Constellation Brands from $170.00 to $174.00 and gave the stock a "neutral" rating in a research note on Thursday, July 3rd. BMO Capital Markets lowered their target price on shares of Constellation Brands from $260.00 to $215.00 and set an "outperform" rating on the stock in a research note on Friday, April 11th. Needham & Company LLC upped their target price on shares of Constellation Brands from $195.00 to $200.00 and gave the stock a "buy" rating in a report on Thursday, July 3rd. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Constellation Brands from $191.00 to $185.00 and set a "hold" rating on the stock in a research note on Thursday, June 5th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Constellation Brands from $170.00 to $182.00 and gave the company a "neutral" rating in a research note on Thursday, July 3rd. Eleven analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $213.74.

Insider Activity at Constellation Brands

In related news, EVP Samuel J. Glaetzer sold 3,150 shares of the company'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 transaction of $593,901.00. Following the sale, the executive vice president directly owned 3,126 shares of the company's stock, valued at $589,376.04. This represents a 50.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 12.45% of the company's stock.

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.

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