Empirical Asset Management LLC Takes Position in Constellation Brands, Inc. (NYSE:STZ)

Empirical Asset Management LLC bought a new position in Constellation Brands, Inc. (NYSE:STZ) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 39,786 shares of the company’s stock, valued at approximately $8,793,000.

Other large investors have also made changes to their positions in the company. Oakworth Capital Inc. increased its stake in Constellation Brands by 4.4% during the third quarter. Oakworth Capital Inc. now owns 989 shares of the company’s stock worth $255,000 after acquiring an additional 42 shares during the last quarter. PFG Investments LLC grew its holdings in shares of Constellation Brands by 3.8% during the 3rd quarter. PFG Investments LLC now owns 1,150 shares of the company’s stock worth $296,000 after purchasing an additional 42 shares during the period. Brighton Jones LLC increased its position in Constellation Brands by 4.7% during the 2nd quarter. Brighton Jones LLC now owns 950 shares of the company’s stock worth $244,000 after purchasing an additional 43 shares in the last quarter. Metis Global Partners LLC raised its holdings in Constellation Brands by 0.8% in the third quarter. Metis Global Partners LLC now owns 5,570 shares of the company’s stock valued at $1,435,000 after buying an additional 46 shares during the period. Finally, Rosenberg Matthew Hamilton increased its position in shares of Constellation Brands by 6.2% in the third quarter. Rosenberg Matthew Hamilton now owns 858 shares of the company’s stock worth $221,000 after acquiring an additional 50 shares in the last quarter. 77.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Argus lowered shares of Constellation Brands from a “buy” rating to a “hold” rating in a report on Tuesday. TD Cowen reduced their price objective on Constellation Brands from $270.00 to $260.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Wells Fargo & Company lowered their target price on Constellation Brands from $295.00 to $275.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Evercore ISI reduced their price target on Constellation Brands from $300.00 to $250.00 and set an “outperform” rating on the stock in a research report on Monday. Finally, BNP Paribas assumed coverage on shares of Constellation Brands in a research report on Monday, November 25th. They issued a “neutral” rating and a $261.00 price objective for the company. Eight research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $261.40.

Constellation Brands Stock Performance

Shares of STZ stock opened at $184.66 on Friday. The stock has a market capitalization of $33.53 billion, a price-to-earnings ratio of 49.64, a PEG ratio of 1.28 and a beta of 0.91. Constellation Brands, Inc. has a one year low of $176.51 and a one year high of $274.87. The company’s 50-day simple moving average is $228.73 and its 200-day simple moving average is $239.85. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.53 and a current ratio of 1.25.

Constellation Brands (NYSE:STZ) last released its earnings results on Friday, January 10th. The company reported $3.25 EPS for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.08). Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The firm had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.53 billion. During the same period in the prior year, the business earned $3.19 EPS. The company’s quarterly revenue was down .3% on a year-over-year basis. Equities analysts anticipate that Constellation Brands, Inc. will post 13.72 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Friday, February 7th will be paid a dividend of $1.01 per share. The ex-dividend date is Friday, February 7th. This represents a $4.04 annualized dividend and a yield of 2.19%. Constellation Brands’s payout ratio is 108.60%.

Insiders Place Their Bets

In other news, CEO William A. Newlands sold 7,426 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $237.24, for a total transaction of $1,761,744.24. Following the completion of the transaction, the chief executive officer now directly owns 7,274 shares of the company’s stock, 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 the SEC website. Also, EVP James A. Jr. Sabia sold 36,086 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $242.99, for a total value of $8,768,537.14. Following the completion of the sale, the executive vice president now directly owns 16,042 shares in the company, valued at approximately $3,898,045.58. This trade represents a 69.23 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 69,172 shares of company stock valued at $16,778,841. Company insiders own 12.19% of the company’s stock.

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.