Bahl & Gaynor Inc. Reduces Stake in Constellation Brands, Inc. (NYSE:STZ)

Bahl & Gaynor Inc. decreased its position in Constellation Brands, Inc. (NYSE:STZ) by 2.9% during the fourth quarter, Holdings Channel reports. The fund owned 3,443 shares of the company’s stock after selling 103 shares during the period. Bahl & Gaynor Inc.’s holdings in Constellation Brands were worth $761,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its stake in shares of Constellation Brands by 2.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,782,964 shares of the company’s stock worth $394,035,000 after purchasing an additional 38,786 shares during the period. Steward Partners Investment Advisory LLC increased its holdings in Constellation Brands by 5.5% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 15,682 shares of the company’s stock valued at $3,466,000 after buying an additional 821 shares during the last quarter. Meridian Wealth Management LLC raised its position in Constellation Brands by 7.0% in the fourth quarter. Meridian Wealth Management LLC now owns 1,825 shares of the company’s stock worth $403,000 after acquiring an additional 120 shares during the period. Mission Wealth Management LP purchased a new position in shares of Constellation Brands during the 4th quarter worth $204,000. Finally, Alesco Advisors LLC grew its position in shares of Constellation Brands by 42.7% during the 4th quarter. Alesco Advisors LLC now owns 2,008 shares of the company’s stock valued at $444,000 after acquiring an additional 601 shares during the period. 77.34% of the stock is owned by hedge funds and other institutional investors.

Constellation Brands Stock Up 0.9 %

Shares of STZ opened at $174.08 on Thursday. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.10 and a quick ratio of 0.46. The stock has a market capitalization of $31.46 billion, a price-to-earnings ratio of 46.79, a price-to-earnings-growth ratio of 1.52 and a beta of 1.75. Constellation Brands, Inc. has a 1 year low of $160.46 and a 1 year high of $274.87. The business’s 50 day simple moving average is $185.90 and its 200-day simple moving average is $222.14.

Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Friday, January 10th. The company reported $3.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.08). Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. The business had revenue of $2.46 billion for the quarter, compared to analysts’ expectations of $2.53 billion. During the same period in the previous year, the company earned $3.19 EPS. Constellation Brands’s revenue for the quarter was down .3% compared to the same quarter last year. As a group, equities analysts expect that Constellation Brands, Inc. will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 7th were paid a dividend of $1.01 per share. The ex-dividend date was Friday, February 7th. This represents a $4.04 annualized dividend and a yield of 2.32%. Constellation Brands’s payout ratio is currently 108.60%.

Insider Buying and Selling at Constellation Brands

In related news, Director William T. Giles purchased 1,000 shares of the firm’s stock in a transaction that occurred on Friday, January 17th. The shares were bought at an average price of $186.39 per share, for a total transaction of $186,390.00. Following the acquisition, the director now owns 1,463 shares of the company’s stock, valued at approximately $272,688.57. This represents a 215.98 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 12.19% of the company’s stock.

Wall Street Analyst Weigh In

STZ has been the topic of a number of recent research reports. Barclays decreased their target price on Constellation Brands from $282.00 to $214.00 and set an “overweight” rating on the stock in a report on Tuesday, January 14th. UBS Group lowered their price objective on Constellation Brands from $265.00 to $223.00 and set a “buy” rating on the stock in a research report on Friday, January 17th. Royal Bank of Canada reissued an “outperform” rating and issued a $293.00 target price on shares of Constellation Brands in a report on Monday, February 3rd. Evercore ISI lowered their price target on shares of Constellation Brands from $300.00 to $250.00 and set an “outperform” rating on the stock in a report on Monday, January 13th. Finally, Argus cut shares of Constellation Brands from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Eleven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $253.43.

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.