HighTower Advisors LLC Decreases Position in Constellation Brands Inc $STZ

Key Points

• HighTower Advisors LLC cut its stake in Constellation Brands by 14.9% in the fourth quarter, selling 22,829 shares and ending with 130,281 shares valued at about $18.0 million.
• Constellation Brands reported better-than-expected quarterly earnings of $1.90 per share on revenue of $1.92 billion, though revenue still fell 11.3% from a year earlier.
• The company raised its quarterly dividend to $1.03 per share, and analysts currently view the stock as a Moderate Buy with a consensus price target of $175.37.

HighTower Advisors LLC decreased its holdings in shares of Constellation Brands Inc (NYSE:STZ - Free Report) by 14.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 130,281 shares of the company's stock after selling 22,829 shares during the quarter. HighTower Advisors LLC owned approximately 0.08% of Constellation Brands worth $17,974,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in STZ. Root Financial Partners LLC purchased a new stake in Constellation Brands during the third quarter worth approximately $26,000. Stance Capital LLC purchased a new stake in Constellation Brands during the third quarter worth approximately $26,000. GoalVest Advisory LLC purchased a new stake in Constellation Brands during the fourth quarter worth approximately $28,000. Elyxium Wealth LLC purchased a new stake in Constellation Brands during the fourth quarter worth approximately $33,000. Finally, Mowery & Schoenfeld Wealth Management LLC purchased a new stake in Constellation Brands during the fourth quarter worth approximately $39,000. Hedge funds and other institutional investors own 77.34% of the company's stock.

Insiders Place Their Bets

In other news, EVP James O. Bourdeau sold 4,407 shares of the company's stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $143.24, for a total transaction of $631,258.68. Following the completion of the sale, the executive vice president owned 9,109 shares in the company, valued at $1,304,773.16. This represents a 32.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 12.45% of the company's stock.

Constellation Brands Price Performance

Shares of NYSE STZ opened at $149.50 on Friday. The company has a current ratio of 1.08, a quick ratio of 0.55 and a debt-to-equity ratio of 1.16. Constellation Brands Inc has a twelve month low of $126.45 and a twelve month high of $186.40. The stock has a 50 day moving average of $152.73 and a two-hundred day moving average of $148.61. The stock has a market cap of $25.74 billion, a P/E ratio of 15.59, a P/E/G ratio of 3.28 and a beta of 0.43.

Constellation Brands (NYSE:STZ - Get Free Report) last issued its quarterly earnings data on Wednesday, April 8th. The company reported $1.90 earnings per share for the quarter, beating 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 company had revenue of $1.92 billion during the quarter, compared to analysts' expectations of $1.84 billion. During the same quarter in the previous year, the business earned $2.63 earnings per share. The firm's revenue for the quarter was down 11.3% on a year-over-year basis. On average, research analysts forecast that Constellation Brands Inc will post 11.9 earnings per share for the current year.

Constellation Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Wednesday, April 29th were paid a $1.03 dividend. This is an increase from Constellation Brands's previous quarterly dividend of $1.02. This represents a $4.12 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date was Wednesday, April 29th. Constellation Brands's dividend payout ratio (DPR) is presently 42.96%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on STZ. Morgan Stanley boosted their target price on Constellation Brands from $160.00 to $183.00 and gave the stock an "equal weight" rating in a research note on Friday, April 10th. Barclays boosted their target price on Constellation Brands from $151.00 to $170.00 and gave the stock an "equal weight" rating in a research note on Friday, April 10th. JPMorgan Chase & Co. boosted their target price on Constellation Brands from $155.00 to $163.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 1st. Evercore set a $175.00 target price on Constellation Brands and gave the stock an "outperform" rating in a research note on Friday, April 10th. Finally, Bank of America boosted their target price on Constellation Brands from $142.00 to $154.00 and gave the stock an "underperform" rating in a research note on Friday, April 10th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Constellation Brands has a consensus rating of "Moderate Buy" and a consensus price target of $175.37.

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.