Constellation Brands, Inc. (NYSE:STZ) Stock Holdings Lowered by Summit Investment Advisors Inc.

Summit Investment Advisors Inc. cut its position in Constellation Brands, Inc. (NYSE:STZ) by 4.2% during the 4th quarter, HoldingsChannel reports. The firm owned 1,521 shares of the company’s stock after selling 66 shares during the quarter. Summit Investment Advisors Inc.’s holdings in Constellation Brands were worth $336,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank bought a new stake in Constellation Brands during the 4th quarter valued at $445,883,000. Vanguard Group Inc. lifted its holdings in Constellation Brands by 13.3% in the fourth quarter. Vanguard Group Inc. now owns 15,534,787 shares of the company’s stock worth $3,433,188,000 after purchasing an additional 1,821,969 shares during the period. Van ECK Associates Corp grew its position in Constellation Brands by 1,844.7% in the 4th quarter. Van ECK Associates Corp now owns 924,274 shares of the company’s stock valued at $204,265,000 after buying an additional 876,745 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC increased its stake in Constellation Brands by 42.9% during the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 2,454,258 shares of the company’s stock valued at $542,391,000 after buying an additional 736,780 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in shares of Constellation Brands during the 4th quarter worth about $105,766,000. 77.34% of the stock is owned by institutional investors and hedge funds.

Constellation Brands Trading Up 1.9 %

Shares of Constellation Brands stock opened at $186.58 on Monday. The company’s fifty day moving average price is $178.56 and its two-hundred day moving average price is $206.29. The firm has a market capitalization of $33.72 billion, a PE ratio of 50.16, a price-to-earnings-growth ratio of 1.52 and a beta of 1.75. Constellation Brands, Inc. has a 52-week low of $160.46 and a 52-week high of $265.70. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.10 and a quick ratio of 0.46.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Wednesday, April 9th. The company reported $2.63 EPS for the quarter, topping analysts’ consensus estimates of $2.28 by $0.35. Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. The firm had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.14 billion. During the same quarter last year, the company earned $2.26 earnings per share. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. On average, analysts expect that Constellation Brands, Inc. will post 13.5 EPS for the current year.

Constellation Brands Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 29th will be paid a dividend of $1.02 per share. This is a positive change from Constellation Brands’s previous quarterly dividend of $1.01. This represents a $4.08 annualized dividend and a yield of 2.19%. The ex-dividend date of this dividend is Tuesday, April 29th. Constellation Brands’s dividend payout ratio is currently -800.00%.

Wall Street Analysts Forecast Growth

STZ has been the topic of a number of research analyst reports. Argus lowered shares of Constellation Brands from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. StockNews.com lowered Constellation Brands from a “hold” rating to a “sell” rating in a report on Thursday. Morgan Stanley dropped their price target on shares of Constellation Brands from $202.00 to $195.00 and set an “equal weight” rating on the stock in a research report on Friday, April 11th. Roth Mkm reduced their price objective on shares of Constellation Brands from $284.00 to $256.00 and set a “buy” rating for the company in a research report on Thursday, April 3rd. Finally, Wells Fargo & Company dropped their target price on shares of Constellation Brands from $230.00 to $210.00 and set an “overweight” rating on the stock in a report on Wednesday, April 2nd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $224.42.

Constellation Brands Company Profile

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.