Johnson Investment Counsel Inc. Decreases Position in Constellation Brands, Inc. (NYSE:STZ)

Johnson Investment Counsel Inc. lessened its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 12.3% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,531 shares of the company’s stock after selling 214 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in Constellation Brands were worth $377,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. CVA Family Office LLC lifted its holdings in shares of Constellation Brands by 323.1% during the 2nd quarter. CVA Family Office LLC now owns 110 shares of the company’s stock valued at $27,000 after purchasing an additional 84 shares during the last quarter. Old North State Trust LLC raised its stake in Constellation Brands by 500.0% in the 1st quarter. Old North State Trust LLC now owns 120 shares of the company’s stock worth $27,000 after acquiring an additional 100 shares during the last quarter. TimeScale Financial Inc. purchased a new position in Constellation Brands in the 2nd quarter worth $34,000. Resurgent Financial Advisors LLC purchased a new position in Constellation Brands in the 4th quarter worth $34,000. Finally, Jones Financial Companies Lllp raised its stake in Constellation Brands by 83.2% in the 1st quarter. Jones Financial Companies Lllp now owns 174 shares of the company’s stock worth $39,000 after acquiring an additional 79 shares during the last quarter. Hedge funds and other institutional investors own 88.99% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Wells Fargo & Company raised their target price on Constellation Brands from $280.00 to $285.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 3rd. Royal Bank of Canada restated an “outperform” rating and issued a $295.00 target price on shares of Constellation Brands in a research note on Friday, September 15th. HSBC raised their target price on Constellation Brands from $280.00 to $290.00 and gave the stock a “buy” rating in a research note on Friday, October 6th. StockNews.com assumed coverage on Constellation Brands in a research note on Thursday, October 5th. They issued a “hold” rating for the company. Finally, JPMorgan Chase & Co. increased their price target on Constellation Brands from $307.00 to $309.00 and gave the stock an “overweight” rating in a research report on Friday, October 6th. Five research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $277.38.

Insiders Place Their Bets

In other Constellation Brands news, major shareholder Family Foundation Sands sold 136,362 shares of the business’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $242.27, for a total transaction of $33,036,421.74. Following the completion of the sale, the insider now directly owns 681,792 shares in the company, valued at approximately $165,177,747.84. The transaction was disclosed in a document filed with the SEC, which is available through this link. 16.19% of the stock is owned by company insiders.

Constellation Brands Price Performance

Shares of Constellation Brands stock opened at $236.95 on Tuesday. Constellation Brands, Inc. has a twelve month low of $208.12 and a twelve month high of $273.65. The business has a 50-day moving average price of $242.95 and a 200 day moving average price of $248.47. The company has a quick ratio of 0.57, a current ratio of 1.20 and a debt-to-equity ratio of 1.10. The firm has a market cap of $43.53 billion, a PE ratio of 28.86, a P/E/G ratio of 1.89 and a beta of 1.05.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings data on Thursday, October 5th. The company reported $3.70 EPS for the quarter, topping the consensus estimate of $3.37 by $0.33. Constellation Brands had a return on equity of 23.35% and a net margin of 14.41%. The company had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.82 billion. During the same period in the previous year, the business earned $3.17 EPS. Constellation Brands’s quarterly revenue was up 6.9% on a year-over-year basis. Sell-side analysts predict that Constellation Brands, Inc. will post 11.87 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 17th. Shareholders of record on Friday, November 3rd were paid a dividend of $0.89 per share. The ex-dividend date was Thursday, November 2nd. This represents a $3.56 annualized dividend and a yield of 1.50%. Constellation Brands’s dividend payout ratio (DPR) is currently 43.36%.

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 Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Victoria, Vicky Chamoy, and Pacifico brands.