New York Life Investment Management LLC Decreases Holdings in Constellation Brands, Inc. (NYSE:STZ)

New York Life Investment Management LLC reduced its stake in Constellation Brands, Inc. (NYSE:STZ) by 0.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,969 shares of the company’s stock after selling 124 shares during the period. New York Life Investment Management LLC’s holdings in Constellation Brands were worth $5,553,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in STZ. BKM Wealth Management LLC purchased a new stake in shares of Constellation Brands during the 4th quarter valued at about $28,000. Asset Dedication LLC grew its position in Constellation Brands by 3,833.3% in the third quarter. Asset Dedication LLC now owns 118 shares of the company’s stock valued at $30,000 after acquiring an additional 115 shares in the last quarter. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Constellation Brands during the fourth quarter valued at approximately $37,000. Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of Constellation Brands during the third quarter worth $41,000. Finally, Exchange Traded Concepts LLC purchased a new position in shares of Constellation Brands in the fourth quarter valued at $45,000. 77.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on STZ. Wedbush reaffirmed an “outperform” rating and set a $300.00 price target on shares of Constellation Brands in a research note on Wednesday, April 10th. BMO Capital Markets increased their price target on Constellation Brands from $290.00 to $315.00 and gave the company an “outperform” rating in a report on Friday, April 12th. Royal Bank of Canada raised their price objective on Constellation Brands from $295.00 to $308.00 and gave the company an “outperform” rating in a research note on Friday, April 12th. TheStreet lowered Constellation Brands from a “b” rating to a “c+” rating in a research report on Friday, January 5th. Finally, Evercore ISI increased their target price on Constellation Brands from $300.00 to $310.00 and gave the company an “outperform” rating in a research note on Friday, April 12th. Three equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $298.55.

Insiders Place Their Bets

In other Constellation Brands news, EVP James A. Jr. Sabia sold 15,781 shares of the business’s stock in a transaction on Friday, April 12th. The stock was sold at an average price of $263.63, for a total transaction of $4,160,345.03. Following the completion of the transaction, the executive vice president now owns 20,910 shares in the company, valued at approximately $5,512,503.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO William A. Newlands sold 4,013 shares of the firm’s stock in a transaction dated Friday, April 19th. The shares were sold at an average price of $263.25, for a total transaction of $1,056,422.25. Following the completion of the transaction, the chief executive officer now owns 5,395 shares in the company, valued at approximately $1,420,233.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP James A. Jr. Sabia sold 15,781 shares of the stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $263.63, for a total transaction of $4,160,345.03. Following the sale, the executive vice president now directly owns 20,910 shares of the company’s stock, valued at $5,512,503.30. The disclosure for this sale can be found here. 16.19% of the stock is owned by insiders.

Constellation Brands Stock Up 0.8 %

Shares of Constellation Brands stock opened at $256.08 on Friday. The stock has a market capitalization of $46.82 billion, a price-to-earnings ratio of 27.30, a PEG ratio of 1.72 and a beta of 0.95. Constellation Brands, Inc. has a twelve month low of $221.81 and a twelve month high of $274.87. The company has a current ratio of 1.19, a quick ratio of 0.53 and a debt-to-equity ratio of 1.06. The business’s 50 day simple moving average is $260.65 and its 200-day simple moving average is $248.54.

Constellation Brands (NYSE:STZ) last issued its earnings results on Thursday, April 11th. The company reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.10 by $0.16. Constellation Brands had a return on equity of 23.06% and a net margin of 16.13%. The firm had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.09 billion. During the same period last year, the company earned $1.98 earnings per share. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. Equities research analysts forecast that Constellation Brands, Inc. will post 13.51 earnings per share for the current year.

Constellation Brands Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Friday, May 3rd will be paid a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 1.58%. This is a positive change from Constellation Brands’s previous quarterly dividend of $0.89. The ex-dividend date is Thursday, May 2nd. Constellation Brands’s payout ratio is presently 43.07%.

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.