Great Lakes Advisors LLC Has $7.09 Million Stake in Constellation Brands, Inc. (NYSE:STZ)

Great Lakes Advisors LLC reduced its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 7.7% in the 4th quarter, Holdings Channel reports. The firm owned 32,095 shares of the company’s stock after selling 2,693 shares during the quarter. Great Lakes Advisors LLC’s holdings in Constellation Brands were worth $7,093,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. State Street Corp raised its position in shares of Constellation Brands by 6.0% during the third quarter. State Street Corp now owns 7,144,428 shares of the company’s stock worth $1,841,048,000 after acquiring an additional 402,211 shares during the last quarter. Janus Henderson Group PLC increased its position in Constellation Brands by 1.2% during the 3rd quarter. Janus Henderson Group PLC now owns 1,853,081 shares of the company’s stock valued at $477,515,000 after purchasing an additional 21,454 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Constellation Brands by 2.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,782,964 shares of the company’s stock worth $394,035,000 after purchasing an additional 38,786 shares during the last quarter. Van ECK Associates Corp lifted its position in shares of Constellation Brands by 1,844.7% in the 4th quarter. Van ECK Associates Corp now owns 924,274 shares of the company’s stock worth $204,265,000 after purchasing an additional 876,745 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in shares of Constellation Brands in the 4th quarter valued at $105,766,000. 77.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

STZ has been the topic of several recent analyst reports. Argus lowered shares of Constellation Brands from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Roth Capital dropped their price objective on Constellation Brands from $298.00 to $284.00 and set a “buy” rating on the stock in a research note on Friday, January 17th. TD Cowen decreased their target price on Constellation Brands from $270.00 to $260.00 and set a “hold” rating for the company in a research note on Wednesday, January 8th. Wells Fargo & Company dropped their price target on Constellation Brands from $295.00 to $275.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Finally, Morgan Stanley cut Constellation Brands from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $220.00 to $202.00 in a report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Constellation Brands currently has a consensus rating of “Hold” and an average target price of $252.81.

Insider Activity

In other Constellation Brands news, Director William T. Giles acquired 1,000 shares of the business’s stock in a transaction on Friday, January 17th. The shares were acquired at an average price of $186.39 per share, with a total value of $186,390.00. Following the completion of the transaction, the director now owns 1,463 shares in the company, valued at approximately $272,688.57. This trade represents a 215.98 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 12.19% of the stock is currently owned by corporate insiders.

Constellation Brands Trading Down 1.3 %

NYSE STZ opened at $181.41 on Friday. The company has a current ratio of 1.10, a quick ratio of 0.46 and a debt-to-equity ratio of 1.26. The business has a fifty day simple moving average of $181.39 and a 200 day simple moving average of $219.80. Constellation Brands, Inc. has a 12 month low of $160.46 and a 12 month high of $274.87. The firm has a market capitalization of $32.79 billion, a P/E ratio of 48.77, a PEG ratio of 1.52 and a beta of 1.75.

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

Constellation Brands Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 7th were paid a $1.01 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 2.23%. Constellation Brands’s payout ratio is presently 108.60%.

Constellation Brands 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.