KBC Group NV Decreases Position in Constellation Brands Inc (NYSE:STZ)

KBC Group NV reduced its position in shares of Constellation Brands Inc (NYSE:STZ - Free Report) by 21.0% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 148,143 shares of the company's stock after selling 39,335 shares during the quarter. KBC Group NV owned about 0.08% of Constellation Brands worth $27,188,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in STZ. Mainstream Capital Management LLC purchased a new stake in Constellation Brands during the fourth quarter valued at approximately $25,000. SBI Securities Co. Ltd. acquired a new stake in Constellation Brands in the fourth quarter worth about $26,000. Minot DeBlois Advisors LLC acquired a new stake in Constellation Brands in the fourth quarter worth about $29,000. Optiver Holding B.V. purchased a new stake in shares of Constellation Brands during the fourth quarter worth about $31,000. Finally, Rialto Wealth Management LLC purchased a new position in shares of Constellation Brands in the 4th quarter valued at approximately $37,000. 77.34% of the stock is currently owned by hedge funds and other institutional investors.

Constellation Brands Stock Up 4.5%

Shares of NYSE STZ traded up $7.52 during midday trading on Wednesday, hitting $173.94. 6,257,126 shares of the company's stock were exchanged, compared to its average volume of 1,914,314. The firm's fifty day simple moving average is $177.93 and its 200-day simple moving average is $184.54. The company has a market cap of $30.96 billion, a PE ratio of -72.78, a P/E/G ratio of 9.20 and a beta of 0.67. Constellation Brands Inc has a twelve month low of $159.35 and a twelve month high of $264.45. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.92 and a quick ratio of 0.56.

Constellation Brands (NYSE:STZ - Get Free Report) last posted its quarterly earnings data on Tuesday, July 1st. The company reported $3.22 EPS for the quarter, missing the consensus estimate of $3.45 by ($0.23). Constellation Brands had a negative net margin of 4.11% and a positive return on equity of 31.15%. The company had revenue of $2.52 billion for the quarter, compared to analysts' expectations of $2.57 billion. During the same period in the prior year, the company earned $3.57 earnings per share. The firm's revenue was down 5.5% on a year-over-year basis. Research analysts predict that Constellation Brands Inc will post 13.5 EPS for the current fiscal year.

Constellation Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Tuesday, April 29th were paid a $1.02 dividend. This is a boost from Constellation Brands's previous quarterly dividend of $1.01. This represents a $4.08 annualized dividend and a yield of 2.35%. The ex-dividend date was Tuesday, April 29th. Constellation Brands's payout ratio is currently -800.00%.

Insider Activity at Constellation Brands

In related news, EVP Samuel J. Glaetzer sold 3,150 shares of the stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $188.54, for a total transaction of $593,901.00. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 12.45% of the company's stock.

Analysts Set New Price Targets

Several analysts have weighed in on STZ shares. Wall Street Zen upgraded Constellation Brands from a "sell" rating to a "hold" rating in a research note on Tuesday, May 20th. Roth Mkm lowered their target price on Constellation Brands from $284.00 to $256.00 and set a "buy" rating on the stock in a research note on Thursday, April 3rd. Barclays set a $202.00 price target on Constellation Brands and gave the company an "overweight" rating in a research report on Thursday, June 26th. CJS Securities cut their target price on shares of Constellation Brands from $196.00 to $194.00 in a report on Monday, May 19th. Finally, Royal Bank Of Canada dropped their price target on shares of Constellation Brands from $289.00 to $233.00 and set an "outperform" rating on the stock in a research report on Monday, April 14th. Eleven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat, Constellation Brands presently has an average rating of "Moderate Buy" and an average target price of $211.91.

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.