Envestnet Portfolio Solutions Inc. Lowers Stock Holdings in Constellation Brands, Inc. (NYSE:STZ)

Envestnet Portfolio Solutions Inc. reduced its position in Constellation Brands, Inc. (NYSE:STZ) by 15.5% in the fourth quarter, Holdings Channel.com reports. The fund owned 19,278 shares of the company’s stock after selling 3,526 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Constellation Brands were worth $4,261,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of STZ. Allworth Financial LP grew its position in shares of Constellation Brands by 0.8% during the 4th quarter. Allworth Financial LP now owns 7,357 shares of the company’s stock valued at $1,626,000 after purchasing an additional 59 shares in the last quarter. BSW Wealth Partners boosted its stake in Constellation Brands by 4.2% during the fourth quarter. BSW Wealth Partners now owns 1,563 shares of the company’s stock valued at $345,000 after buying an additional 63 shares during the period. Philip James Wealth Mangement LLC grew its position in Constellation Brands by 8.0% during the fourth quarter. Philip James Wealth Mangement LLC now owns 923 shares of the company’s stock worth $204,000 after buying an additional 68 shares in the last quarter. Oak Asset Management LLC increased its stake in Constellation Brands by 0.4% in the 4th quarter. Oak Asset Management LLC now owns 17,611 shares of the company’s stock worth $3,892,000 after acquiring an additional 71 shares during the last quarter. Finally, Hartford Funds Management Co LLC raised its holdings in shares of Constellation Brands by 4.2% in the 3rd quarter. Hartford Funds Management Co LLC now owns 1,797 shares of the company’s stock valued at $463,000 after acquiring an additional 72 shares in the last quarter. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Constellation Brands Stock Down 2.4 %

Shares of Constellation Brands stock opened at $179.23 on Wednesday. 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, Inc. has a 52-week low of $160.46 and a 52-week high of $274.87. The company’s 50 day moving average price is $179.01 and its 200-day moving average price is $218.27. The stock has a market capitalization of $32.39 billion, a price-to-earnings ratio of 48.18, a P/E/G ratio of 1.52 and a beta of 1.75.

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

Constellation Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 7th were issued a $1.01 dividend. This represents a $4.04 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend was Friday, February 7th. Constellation Brands’s dividend payout ratio (DPR) is currently 108.60%.

Insider Transactions at Constellation Brands

In other Constellation Brands news, Director William T. Giles purchased 1,000 shares of the company’s stock in a transaction that occurred on Friday, January 17th. The stock was bought at an average price of $186.39 per share, with a total value of $186,390.00. Following the completion of the purchase, the director now directly owns 1,463 shares of the company’s stock, valued at $272,688.57. The trade was a 215.98 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 12.19% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Evercore ISI cut their price objective on Constellation Brands from $300.00 to $250.00 and set an “outperform” rating for the company in a report on Monday, January 13th. Wells Fargo & Company decreased their price target on shares of Constellation Brands from $295.00 to $275.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. TD Cowen dropped their price objective on shares of Constellation Brands from $270.00 to $260.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. UBS Group reduced their target price on Constellation Brands from $265.00 to $223.00 and set a “buy” rating on the stock in a research note on Friday, January 17th. Finally, StockNews.com downgraded Constellation Brands from a “hold” rating to a “sell” rating in a research report on Friday, March 14th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $252.81.

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.