Patton Albertson Miller Group LLC Decreases Stake in Constellation Brands Inc $STZ

Key Points

• Patton Albertson Miller Group LLC cut its stake by 44.3%, selling 8,792 shares in Q4 and ending the period with 11,074 shares of Constellation Brands valued at about $1.53 million.
• Analysts maintain a "Moderate Buy" consensus on STZ with an average price target of $176.30, and several firms (UBS, Evercore, Wells Fargo, Citigroup, Roth MKM) recently issued buy/outperform ratings or raised targets.
• Constellation beat Q earnings with EPS $1.90 vs. $1.71 estimated despite revenue declining 11.3% year‑over‑year, and raised its quarterly dividend to $1.03 (annualized $4.12, ~2.7% yield).

Patton Albertson Miller Group LLC cut its holdings in shares of Constellation Brands Inc (NYSE:STZ - Free Report) by 44.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,074 shares of the company's stock after selling 8,792 shares during the period. Patton Albertson Miller Group LLC's holdings in Constellation Brands were worth $1,528,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Ameriprise Financial Inc. lifted 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 valued at $287,889,000 after purchasing an additional 1,533,961 shares during the period. Vanguard Group Inc. raised its stake in Constellation Brands by 3.3% during the 3rd quarter. Vanguard Group Inc. now owns 18,202,611 shares of the company's stock valued at $2,451,346,000 after buying an additional 573,766 shares during the last quarter. Worldquant Millennium Advisors LLC lifted its holdings in shares of Constellation Brands by 1,249.7% during the 2nd quarter. Worldquant Millennium Advisors LLC now owns 476,702 shares of the company's stock valued at $77,550,000 after buying an additional 441,382 shares during the period. Hotchkis & Wiley Capital Management LLC boosted its stake in shares of Constellation Brands by 26.8% in the 3rd 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 last quarter. Finally, Van ECK Associates Corp boosted its stake in shares of Constellation Brands by 15.5% in the 3rd 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 last quarter. Hedge funds and other institutional investors own 77.34% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on STZ shares. UBS Group increased 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. Evercore set a $175.00 price target on shares of Constellation Brands and gave the company an "outperform" rating in a research report on Friday, April 10th. Wells Fargo & Company increased their price objective on shares of Constellation Brands from $180.00 to $185.00 and gave the stock an "overweight" rating in a research note on Friday, April 10th. Citigroup reissued a "buy" rating on shares of Constellation Brands in a report on Friday, April 10th. Finally, Roth Mkm restated a "buy" rating on shares of Constellation Brands in a research report on Thursday, April 9th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Constellation Brands currently has a consensus rating of "Moderate Buy" and an average price target of $176.30.

Constellation Brands Stock Performance

Shares of NYSE STZ opened at $152.38 on Thursday. The company has a market cap of $26.24 billion, a P/E ratio of 15.89, a P/E/G ratio of 3.29 and a beta of 1.75. Constellation Brands Inc has a 52-week low of $126.45 and a 52-week high of $196.91. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.55 and a current ratio of 1.08. The firm's fifty day moving average is $154.39 and its two-hundred day moving average is $147.92.

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 firm had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same quarter last year, the business posted $2.63 earnings per share. The business's quarterly revenue was down 11.3% compared to the same quarter last year. As a group, analysts anticipate that Constellation Brands Inc will post 11.9 EPS for the current fiscal year.

Constellation Brands Increases Dividend

The company also recently disclosed 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. This represents a $4.12 dividend on an annualized basis and a yield of 2.7%. This is a positive change from Constellation Brands's previous quarterly dividend of $1.02. The ex-dividend date is Wednesday, April 29th. Constellation Brands's dividend payout ratio (DPR) is presently 42.96%.

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.

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