Harbour Trust & Investment Management Co Sells 627 Shares of Constellation Brands, Inc. (NYSE:STZ)

Harbour Trust & Investment Management Co reduced its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 1.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 32,445 shares of the company’s stock after selling 627 shares during the quarter. Harbour Trust & Investment Management Co’s holdings in Constellation Brands were worth $7,170,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Oakworth Capital Inc. grew its stake in shares of Constellation Brands by 4.4% in the third quarter. Oakworth Capital Inc. now owns 989 shares of the company’s stock worth $255,000 after acquiring an additional 42 shares during the period. PFG Investments LLC grew its position in Constellation Brands by 3.8% in the 3rd quarter. PFG Investments LLC now owns 1,150 shares of the company’s stock worth $296,000 after purchasing an additional 42 shares during the period. Metis Global Partners LLC raised its stake in Constellation Brands by 0.8% during the 3rd quarter. Metis Global Partners LLC now owns 5,570 shares of the company’s stock valued at $1,435,000 after buying an additional 46 shares during the last quarter. Rosenberg Matthew Hamilton lifted its holdings in shares of Constellation Brands by 6.2% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 858 shares of the company’s stock valued at $221,000 after buying an additional 50 shares during the period. Finally, Strategic Investment Solutions Inc. IL boosted its stake in shares of Constellation Brands by 4.6% in the 3rd quarter. Strategic Investment Solutions Inc. IL now owns 1,158 shares of the company’s stock worth $298,000 after buying an additional 51 shares during the last quarter. Institutional investors own 77.34% of the company’s stock.

Constellation Brands Stock Performance

NYSE:STZ opened at $169.05 on Monday. The firm has a market capitalization of $30.55 billion, a PE ratio of 45.44, a PEG ratio of 1.51 and a beta of 0.90. The stock’s fifty day moving average is $208.85 and its 200 day moving average is $231.27. Constellation Brands, Inc. has a fifty-two week low of $166.02 and a fifty-two week high of $274.87. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.46 and a current ratio of 1.10.

Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Friday, January 10th. The company reported $3.25 EPS for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.08). Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The firm had revenue of $2.46 billion for the quarter, compared to analysts’ expectations of $2.53 billion. During the same period in the prior year, the firm posted $3.19 earnings per share. Constellation Brands’s revenue for the quarter was down .3% on a year-over-year basis. On average, sell-side analysts anticipate that Constellation Brands, Inc. will post 13.5 earnings per share for the current year.

Constellation Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Friday, February 7th will be issued a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date of this dividend is Friday, February 7th. Constellation Brands’s payout ratio is currently 108.60%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on STZ shares. Barclays lowered their target price on Constellation Brands from $282.00 to $214.00 and set an “overweight” rating on the stock in a report on Tuesday, January 14th. StockNews.com lowered shares of Constellation Brands from a “hold” rating to a “sell” rating in a research report on Wednesday, February 5th. Royal Bank of Canada reiterated an “outperform” rating and issued a $293.00 price target on shares of Constellation Brands in a research report on Monday, February 3rd. UBS Group cut their price objective on Constellation Brands from $265.00 to $223.00 and set a “buy” rating for the company in a research note on Friday, January 17th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $240.00 price target on shares of Constellation Brands in a research note on Monday, January 27th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $254.29.

Insider Buying and Selling at Constellation Brands

In other news, CEO William A. Newlands sold 25,000 shares of the company’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $243.58, for a total value of $6,089,500.00. Following the transaction, the chief executive officer now directly owns 7,274 shares in the company, valued at approximately $1,771,800.92. This represents a 77.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director William T. Giles acquired 1,000 shares of the firm’s stock in a transaction that occurred on Friday, January 17th. The shares were bought at an average price of $186.39 per share, with a total value of $186,390.00. Following the acquisition, the director now directly owns 1,463 shares in the company, valued at $272,688.57. This represents a 215.98 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 61,746 shares of company stock valued at $15,017,097 in the last quarter. 12.19% of the stock is owned by insiders.

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.