Zurcher Kantonalbank Zurich Cantonalbank Trims Stake in Constellation Brands Inc $STZ

Key Points

• Zurcher Kantonalbank cut its stake in Constellation Brands (STZ) by 14.2% in Q4, selling 27,474 shares and holding 166,050 shares (~$22.9M), about 0.10% of the company.
• Constellation beat Q results with EPS of $1.90 (vs. $1.71 est.) while revenue fell 11.3% YoY; analysts' consensus is a “Moderate Buy” with an average price target of $178.14.
• The company raised its quarterly dividend to $1.03 (annualized $4.12) for a yield of ~2.6%, with an ex‑dividend date of April 29 and payment on May 14.

Zurcher Kantonalbank Zurich Cantonalbank reduced its position in Constellation Brands Inc (NYSE:STZ - Free Report) by 14.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 166,050 shares of the company's stock after selling 27,474 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned 0.10% of Constellation Brands worth $22,908,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in STZ. Root Financial Partners LLC purchased a new stake in Constellation Brands in the 3rd quarter worth about $26,000. Stance Capital LLC purchased a new stake in Constellation Brands in the 3rd quarter worth about $26,000. GoalVest Advisory LLC purchased a new stake in Constellation Brands in the 4th quarter worth about $28,000. Salomon & Ludwin LLC purchased a new stake in Constellation Brands in the 3rd quarter worth about $30,000. Finally, CVA Family Office LLC raised its position in Constellation Brands by 713.2% in the 3rd quarter. CVA Family Office LLC now owns 309 shares of the company's stock worth $42,000 after purchasing an additional 271 shares during the period. 77.34% of the stock is owned by hedge funds and other institutional investors.

Constellation Brands Stock Performance

Shares of NYSE:STZ opened at $157.00 on Wednesday. The firm has a market cap of $27.23 billion, a PE ratio of 16.37, a price-to-earnings-growth ratio of 3.51 and a beta of 1.75. The firm's 50 day simple moving average is $154.62 and its 200-day simple moving average is $147.04. Constellation Brands Inc has a one year low of $126.45 and a one year 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.

Constellation Brands (NYSE:STZ - Get Free Report) last issued its earnings results on Wednesday, April 8th. The company reported $1.90 EPS for the quarter, topping analysts' consensus estimates of $1.71 by $0.19. Constellation Brands had a net margin of 17.29% and a return on equity of 26.18%. The business had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same period last year, the company posted $2.63 earnings per share. The company's quarterly revenue was down 11.3% compared to the same quarter last year. As a group, equities analysts predict that Constellation Brands Inc will post 11.94 EPS for the current year.

Constellation Brands Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 14th. Stockholders of record on Wednesday, April 29th will be paid a dividend of $1.03 per share. This is a boost from Constellation Brands's previous quarterly dividend of $1.02. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Wednesday, April 29th. Constellation Brands's payout ratio is 42.96%.

Analysts Set New Price Targets

A number of analysts recently weighed in on STZ shares. Evercore set a $175.00 price objective on shares of Constellation Brands and gave the stock an "outperform" rating in a research report on Friday, April 10th. BMO Capital Markets reissued an "outperform" rating and issued a $190.00 price objective on shares of Constellation Brands in a research report on Friday, January 9th. Barclays raised their target price on shares of Constellation Brands from $151.00 to $170.00 and gave the stock an "equal weight" rating in a research report on Friday, April 10th. Bank of America raised their target price on shares of Constellation Brands from $142.00 to $154.00 and gave the stock an "underperform" rating in a research report on Friday, April 10th. Finally, Morgan Stanley raised their target price on shares of Constellation Brands from $160.00 to $183.00 and gave the stock an "equal weight" rating in a research report on Friday, April 10th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Constellation Brands presently has an average rating of "Moderate Buy" and an average price target of $178.14.

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.

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.