Geode Capital Management LLC Purchases 63,323 Shares of Constellation Brands, Inc. (NYSE:STZ)

Geode Capital Management LLC grew its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 2.0% in the 4th quarter, HoldingsChannel reports. The firm owned 3,204,003 shares of the company’s stock after acquiring an additional 63,323 shares during the quarter. Geode Capital Management LLC’s holdings in Constellation Brands were worth $705,844,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of STZ. Public Sector Pension Investment Board boosted its stake in Constellation Brands by 3.5% in the third quarter. Public Sector Pension Investment Board now owns 5,904 shares of the company’s stock worth $1,521,000 after buying an additional 200 shares in the last quarter. Benjamin Edwards Inc. lifted its holdings in shares of Constellation Brands by 206.5% in the 3rd quarter. Benjamin Edwards Inc. now owns 4,763 shares of the company’s stock worth $1,228,000 after acquiring an additional 3,209 shares during the last quarter. Hilltop Holdings Inc. purchased a new stake in shares of Constellation Brands in the 3rd quarter valued at $205,000. HighTower Advisors LLC grew its holdings in shares of Constellation Brands by 3.5% during the 3rd quarter. HighTower Advisors LLC now owns 237,688 shares of the company’s stock valued at $61,313,000 after purchasing an additional 8,137 shares during the last quarter. Finally, Investment Management Corp of Ontario raised its position in Constellation Brands by 45.3% in the 3rd quarter. Investment Management Corp of Ontario now owns 5,455 shares of the company’s stock worth $1,406,000 after purchasing an additional 1,700 shares during the period. 77.34% of the stock is currently owned by hedge funds and other institutional investors.

Constellation Brands Trading Down 1.2 %

NYSE STZ opened at $182.62 on Thursday. The firm has a market capitalization of $33.00 billion, a PE ratio of 49.09, a P/E/G ratio of 1.52 and a beta of 1.75. The stock’s 50 day moving average is $177.29 and its 200 day moving average is $213.33. Constellation Brands, Inc. has a twelve month low of $160.46 and a twelve month high of $274.87. The company has a quick ratio of 0.46, a current ratio of 1.10 and a debt-to-equity ratio of 1.26.

Constellation Brands (NYSE:STZ) last released its earnings results on Friday, January 10th. The company reported $3.25 earnings per share for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.08). Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The business 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 company earned $3.19 earnings per share. The firm’s quarterly revenue was down .3% compared to the same quarter last year. Research analysts forecast that Constellation Brands, Inc. will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 7th were given a $1.01 dividend. The ex-dividend date was Friday, February 7th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 2.21%. Constellation Brands’s dividend payout ratio is currently 108.60%.

Analysts Set New Price Targets

Several analysts have issued reports on STZ shares. StockNews.com lowered shares of Constellation Brands from a “hold” rating to a “sell” rating in a research report on Friday, March 14th. Roth Capital reduced their price target on Constellation Brands from $298.00 to $284.00 and set a “buy” rating on the stock in a research report on Friday, January 17th. Citigroup cut Constellation Brands from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $260.00 to $200.00 in a research note on Thursday, March 20th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $203.00 target price (down previously from $262.00) on shares of Constellation Brands in a report on Monday, January 13th. Finally, Morgan Stanley downgraded shares of Constellation Brands from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $220.00 to $202.00 in a research note on Thursday, February 27th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $246.23.

Insider Buying and Selling

In related news, Director William T. Giles bought 1,000 shares of the company’s stock in a transaction on Friday, January 17th. The shares were acquired at an average cost of $186.39 per share, with a total value of $186,390.00. Following the completion of the acquisition, the director now owns 1,463 shares of the company’s stock, valued at $272,688.57. The trade was a 215.98 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 12.19% of the stock is currently owned by company insiders.

Constellation Brands Company 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.