Byrne Asset Management LLC Has $816,000 Stock Position in Constellation Brands, Inc. (NYSE:STZ)

Byrne Asset Management LLC decreased its position in Constellation Brands, Inc. (NYSE:STZ) by 3.2% in the 1st quarter, HoldingsChannel reports. The fund owned 4,447 shares of the company’s stock after selling 148 shares during the period. Byrne Asset Management LLC’s holdings in Constellation Brands were worth $816,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Allworth Financial LP raised its holdings in shares of Constellation Brands by 0.8% in the 4th quarter. Allworth Financial LP now owns 7,357 shares of the company’s stock worth $1,626,000 after buying an additional 59 shares in the last quarter. Piscataqua Savings Bank raised its holdings in shares of Constellation Brands by 1.7% in the 1st quarter. Piscataqua Savings Bank now owns 3,720 shares of the company’s stock worth $683,000 after buying an additional 62 shares in the last quarter. Moody National Bank Trust Division raised its holdings in shares of Constellation Brands by 0.9% in the 1st quarter. Moody National Bank Trust Division now owns 6,991 shares of the company’s stock worth $1,283,000 after buying an additional 64 shares in the last quarter. Philip James Wealth Mangement LLC raised its holdings in shares of Constellation Brands by 8.0% in the 4th 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. Finally, Barden Capital Management Inc. raised its holdings in shares of Constellation Brands by 1.3% in the 4th quarter. Barden Capital Management Inc. now owns 5,574 shares of the company’s stock worth $1,232,000 after buying an additional 72 shares in the last quarter. Institutional investors and hedge funds own 77.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on STZ shares. Bernstein Bank dropped their target price on Constellation Brands from $260.00 to $225.00 and set an “outperform” rating for the company in a report on Thursday, April 10th. Wall Street Zen raised Constellation Brands from a “sell” rating to a “hold” rating in a report on Tuesday, May 20th. The Goldman Sachs Group dropped their price target on Constellation Brands from $260.00 to $225.00 and set a “buy” rating for the company in a report on Friday, April 11th. Citigroup dropped their price target on Constellation Brands from $200.00 to $190.00 and set a “neutral” rating for the company in a report on Friday, April 11th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $215.00 price target on shares of Constellation Brands in a report on Thursday, April 10th. Eleven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $220.00.

Insider Transactions at Constellation Brands

In related news, EVP Samuel J. Glaetzer sold 3,150 shares of the firm’s stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $188.54, for a total transaction of $593,901.00. Following the sale, the executive vice president now owns 3,126 shares of the company’s stock, valued at approximately $589,376.04. This trade represents a 50.19% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 12.19% of the stock is owned by corporate insiders.

Constellation Brands Stock Down 3.0%

Shares of STZ opened at $164.69 on Friday. The firm has a market capitalization of $29.32 billion, a price-to-earnings ratio of 44.27, a PEG ratio of 1.52 and a beta of 1.75. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.46 and a current ratio of 1.10. The business’s fifty day moving average price is $183.21 and its two-hundred day moving average price is $191.30. Constellation Brands, Inc. has a 52 week low of $160.46 and a 52 week high of $265.70.

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

Constellation Brands Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Tuesday, April 29th were given a $1.02 dividend. This is a positive change from Constellation Brands’s previous quarterly dividend of $1.01. This represents a $4.08 annualized dividend and a dividend yield of 2.48%. The ex-dividend date of this dividend was Tuesday, April 29th. Constellation Brands’s dividend payout ratio (DPR) is currently -800.00%.

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.