AMI Asset Management Corp Cuts Stake in Constellation Brands Inc (NYSE:STZ)

AMI Asset Management Corp lowered its position in shares of Constellation Brands Inc (NYSE:STZ) by 4.4% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 153,372 shares of the company’s stock after selling 7,027 shares during the quarter. AMI Asset Management Corp owned 0.08% of Constellation Brands worth $28,147,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of STZ. Berkshire Hathaway Inc purchased a new position in shares of Constellation Brands in the 4th quarter valued at about $1,242,976,000. Norges Bank purchased a new position in shares of Constellation Brands in the 4th quarter valued at about $445,883,000. Vanguard Group Inc. increased its holdings in shares of Constellation Brands by 13.3% in the 4th quarter. Vanguard Group Inc. now owns 15,534,787 shares of the company’s stock valued at $3,433,188,000 after purchasing an additional 1,821,969 shares in the last quarter. D1 Capital Partners L.P. increased its holdings in shares of Constellation Brands by 186.6% in the 4th quarter. D1 Capital Partners L.P. now owns 1,527,689 shares of the company’s stock valued at $337,619,000 after purchasing an additional 994,639 shares in the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC increased its holdings in shares of Constellation Brands by 42.9% in 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 purchasing an additional 736,780 shares in the last quarter. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Constellation Brands Trading Down 1.8%

NYSE STZ opened at $161.56 on Thursday. Constellation Brands Inc has a one year low of $159.35 and a one year high of $264.45. The company’s 50 day moving average price is $179.85 and its 200 day moving average price is $187.09. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.56 and a current ratio of 0.92. The firm has a market capitalization of $28.76 billion, a price-to-earnings ratio of -316.78, a PEG ratio of 9.07 and a beta of 0.70.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings data on Wednesday, April 9th. The company reported $2.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.28 by $0.35. The company had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.14 billion. Constellation Brands had a negative net margin of 0.74% and a positive return on equity of 29.56%. The business’s quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter last year, the firm posted $2.26 earnings per share. On average, sell-side analysts predict that Constellation Brands Inc will post 13.5 EPS for the current year.

Constellation Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Tuesday, April 29th were paid a dividend of $1.02 per share. The ex-dividend date was Tuesday, April 29th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.53%. This is a positive change from Constellation Brands’s previous quarterly dividend of $1.01. Constellation Brands’s dividend payout ratio (DPR) is currently -800.00%.

Wall Street Analyst Weigh In

Several research firms have weighed in on STZ. Needham & Company LLC dropped their target price on shares of Constellation Brands from $215.00 to $195.00 and set a “buy” rating for the company in a report on Wednesday. The Goldman Sachs Group dropped their target price on shares of Constellation Brands from $260.00 to $225.00 and set a “buy” rating for the company in a report on Friday, April 11th. Barclays raised their target price on shares of Constellation Brands from $203.00 to $207.00 and gave the company an “overweight” rating in a report on Monday, April 14th. DA Davidson dropped their target price on shares of Constellation Brands from $272.00 to $241.00 in a report on Friday, April 11th. Finally, Morgan Stanley dropped their target price on shares of Constellation Brands from $202.00 to $195.00 and set an “equal weight” rating for the company in a report on Friday, April 11th. Eleven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Constellation Brands presently has a consensus rating of “Moderate Buy” and a consensus price target of $213.17.

Insider Activity

In other news, EVP Samuel J. Glaetzer sold 3,150 shares of Constellation Brands stock in a transaction that occurred on Tuesday, May 13th. The shares were 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 in the company, valued at $589,376.04. This trade represents a 50.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 12.45% of the company’s stock.

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.