Thurston Springer Miller Herd & Titak Inc. Raises Stock Position in Constellation Brands, Inc. (NYSE:STZ)

Thurston Springer Miller Herd & Titak Inc. increased its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 347.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 582 shares of the company’s stock after acquiring an additional 452 shares during the period. Thurston Springer Miller Herd & Titak Inc.’s holdings in Constellation Brands were worth $129,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Versant Capital Management Inc boosted its position in shares of Constellation Brands by 887.5% during the 4th quarter. Versant Capital Management Inc now owns 158 shares of the company’s stock valued at $35,000 after acquiring an additional 142 shares during the last quarter. Eastern Bank purchased a new stake in Constellation Brands in the third quarter valued at approximately $39,000. FSA Wealth Management LLC bought a new stake in Constellation Brands during the third quarter valued at approximately $42,000. Truvestments Capital LLC purchased a new position in Constellation Brands in the 3rd quarter worth approximately $60,000. Finally, Continuum Advisory LLC increased its holdings in shares of Constellation Brands by 68.0% in the 3rd quarter. Continuum Advisory LLC now owns 252 shares of the company’s stock worth $61,000 after buying an additional 102 shares during the last quarter. 77.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Constellation Brands

In other Constellation Brands news, CEO William A. Newlands sold 7,426 shares of the stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $237.24, for a total value of $1,761,744.24. Following the completion of the transaction, the chief executive officer now owns 7,274 shares in the company, valued at approximately $1,725,683.76. This represents a 50.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP James A. Jr. Sabia sold 36,086 shares of the firm’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $242.99, for a total value of $8,768,537.14. Following the transaction, the executive vice president now directly owns 16,042 shares of the company’s stock, valued at $3,898,045.58. This represents a 69.23 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 69,172 shares of company stock valued at $16,778,841. Corporate insiders own 12.19% of the company’s stock.

Wall Street Analyst Weigh In

STZ has been the subject of a number of research analyst reports. Barclays dropped their price objective on shares of Constellation Brands from $282.00 to $214.00 and set an “overweight” rating for the company in a report on Tuesday. 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. Royal Bank of Canada reiterated an “outperform” rating and set a $308.00 price objective on shares of Constellation Brands in a research report on Tuesday, January 7th. BMO Capital Markets dropped their target price on Constellation Brands from $315.00 to $305.00 and set an “outperform” rating for the company in a research report on Tuesday, October 15th. Finally, Bank of America reiterated a “neutral” rating and set a $255.00 price target (down from $300.00) on shares of Constellation Brands in a research report on Monday, October 7th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $259.05.

Constellation Brands Price Performance

Shares of Constellation Brands stock opened at $184.05 on Friday. The company has a market cap of $33.42 billion, a PE ratio of 49.48, a P/E/G ratio of 1.28 and a beta of 0.91. The business has a 50 day moving average of $227.76 and a 200 day moving average of $239.46. Constellation Brands, Inc. has a 52 week low of $176.51 and a 52 week high of $274.87. The company has a quick ratio of 0.53, a current ratio of 1.25 and a debt-to-equity ratio of 1.31.

Constellation Brands (NYSE:STZ) last posted 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 return on equity of 25.34% and a net margin of 5.29%. The company had revenue of $2.46 billion during the quarter, compared to analysts’ expectations of $2.53 billion. During the same period in the prior year, the business posted $3.19 earnings per share. The company’s revenue for the quarter was down .3% on a year-over-year basis. As a group, equities research analysts forecast that Constellation Brands, Inc. will post 13.72 earnings per share for the current year.

Constellation Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Friday, February 7th will be issued a dividend of $1.01 per share. The ex-dividend date is Friday, February 7th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 2.20%. Constellation Brands’s dividend payout ratio (DPR) is 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.