Jacobs & Co. CA Lowers Stake in Constellation Brands, Inc. (NYSE:STZ)

Jacobs & Co. CA cut its holdings in shares of Constellation Brands, Inc. (NYSE:STZ - Free Report) by 14.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 33,600 shares of the company's stock after selling 5,589 shares during the quarter. Jacobs & Co. CA's holdings in Constellation Brands were worth $6,166,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Allworth Financial LP lifted its holdings in shares of Constellation Brands by 0.8% in the 4th quarter. Allworth Financial LP now owns 7,357 shares of the company's stock valued at $1,626,000 after buying an additional 59 shares during the period. BSW Wealth Partners lifted its holdings in shares of Constellation Brands by 4.2% in the 4th quarter. BSW Wealth Partners now owns 1,563 shares of the company's stock valued at $345,000 after buying an additional 63 shares during the period. Philip James Wealth Mangement LLC lifted its holdings in shares of Constellation Brands by 8.0% in the 4th quarter. Philip James Wealth Mangement LLC now owns 923 shares of the company's stock valued at $204,000 after buying an additional 68 shares during the period. Barden Capital Management Inc. lifted its holdings in shares of Constellation Brands by 1.3% in the 4th quarter. Barden Capital Management Inc. now owns 5,574 shares of the company's stock valued at $1,232,000 after buying an additional 72 shares during the period. Finally, Vista Investment Management lifted its holdings in shares of Constellation Brands by 0.7% in the 4th quarter. Vista Investment Management now owns 11,479 shares of the company's stock valued at $2,537,000 after buying an additional 84 shares during the period. 77.34% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Royal Bank of Canada reduced their price target on Constellation Brands from $289.00 to $233.00 and set an "outperform" rating for the company in a report on Monday, April 14th. Needham & Company LLC reaffirmed a "buy" rating and set a $215.00 price objective on shares of Constellation Brands in a report on Thursday, April 10th. Roth Mkm reduced their price objective on Constellation Brands from $284.00 to $256.00 and set a "buy" rating for the company in a report on Thursday, April 3rd. Wall Street Zen raised Constellation Brands from a "sell" rating to a "hold" rating in a report on Tuesday, May 20th. Finally, Wells Fargo & Company reduced their price objective on Constellation Brands from $230.00 to $210.00 and set an "overweight" rating for the company in a report on Wednesday, April 2nd. Ten analysts have rated the stock with a hold rating and eleven 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 target price of $225.74.

Constellation Brands Price Performance

Shares of NYSE STZ traded down $1.61 during trading on Friday, reaching $178.10. The company had a trading volume of 3,033,821 shares, compared to its average volume of 1,772,571. Constellation Brands, Inc. has a twelve month low of $160.46 and a twelve month high of $265.70. The stock has a market capitalization of $31.71 billion, a PE ratio of 47.88, a price-to-earnings-growth ratio of 1.52 and a beta of 1.75. The stock has a 50-day moving average price of $184.91 and a two-hundred day moving average price of $195.97. The company has a current ratio of 1.10, a quick ratio of 0.46 and a debt-to-equity ratio of 1.26.

Constellation Brands (NYSE:STZ - Get Free Report) last released its quarterly earnings results on Wednesday, April 9th. The company reported $2.63 earnings per share for the quarter, topping analysts' consensus estimates of $2.28 by $0.35. The company had revenue of $2.13 billion during the quarter, compared to analysts' expectations of $2.14 billion. Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The business's revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.26 earnings per share. As a group, sell-side analysts predict that Constellation Brands, Inc. will post 13.5 earnings per share for the current year.

Constellation Brands Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Tuesday, April 29th were given a $1.02 dividend. The ex-dividend date was Tuesday, April 29th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.29%. This is an increase from Constellation Brands's previous quarterly dividend of $1.01. Constellation Brands's payout ratio is currently -800.00%.

Insider Activity

In other news, EVP Samuel J. Glaetzer sold 3,150 shares of Constellation Brands stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $188.54, for a total value of $593,901.00. Following the completion of the sale, the executive vice president now owns 3,126 shares of the company's stock, valued at $589,376.04. The trade was a 50.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 12.19% 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.