Carnegie Capital Asset Management LLC Sells 124 Shares of Constellation Brands, Inc. (NYSE:STZ)

Carnegie Capital Asset Management LLC decreased its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 1.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,177 shares of the company’s stock after selling 124 shares during the quarter. Carnegie Capital Asset Management LLC’s holdings in Constellation Brands were worth $1,977,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Indiana Trust & Investment Management CO acquired a new position in shares of Constellation Brands during the 3rd quarter valued at about $25,000. Impact Partnership Wealth LLC grew its stake in Constellation Brands by 1,175.0% in the 3rd quarter. Impact Partnership Wealth LLC now owns 102 shares of the company’s stock valued at $26,000 after buying an additional 94 shares during the last quarter. BKM Wealth Management LLC bought a new position in Constellation Brands in the 4th quarter worth $28,000. Asset Dedication LLC lifted its position in Constellation Brands by 3,833.3% during the 3rd quarter. Asset Dedication LLC now owns 118 shares of the company’s stock worth $30,000 after acquiring an additional 115 shares during the last quarter. Finally, Resurgent Financial Advisors LLC acquired a new stake in shares of Constellation Brands in the fourth quarter valued at about $34,000. 77.34% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently weighed in on STZ. Jefferies Financial Group boosted their price objective on Constellation Brands from $292.00 to $314.00 and gave the stock a “buy” rating in a research report on Friday. Bank of America raised their price objective on shares of Constellation Brands from $290.00 to $300.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Royal Bank of Canada upped their target price on shares of Constellation Brands from $295.00 to $308.00 and gave the company an “outperform” rating in a research note on Friday. Wedbush restated an “outperform” rating and issued a $300.00 price target on shares of Constellation Brands in a research report on Wednesday, April 10th. Finally, Barclays upped their price objective on shares of Constellation Brands from $294.00 to $295.00 and gave the company an “overweight” rating in a research report on Monday. Three investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $298.55.

Constellation Brands Trading Down 1.4 %

NYSE STZ opened at $258.52 on Tuesday. Constellation Brands, Inc. has a 12 month low of $221.81 and a 12 month high of $274.87. The stock has a 50-day simple moving average of $257.07 and a 200 day simple moving average of $247.01. The company has a current ratio of 1.19, a quick ratio of 0.53 and a debt-to-equity ratio of 1.06. The company has a market capitalization of $47.26 billion, a PE ratio of 27.56, a P/E/G ratio of 1.78 and a beta of 0.97.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Thursday, April 11th. The company reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates of $2.10 by $0.16. The business had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.09 billion. Constellation Brands had a net margin of 16.13% and a return on equity of 23.06%. Constellation Brands’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period last year, the company posted $1.98 EPS. Research analysts forecast that Constellation Brands, Inc. will post 13.43 EPS for the current year.

Constellation Brands Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Friday, May 3rd will be issued a $1.01 dividend. This is a positive change from Constellation Brands’s previous quarterly dividend of $0.89. The ex-dividend date is Thursday, May 2nd. This represents a $4.04 annualized dividend and a dividend yield of 1.56%. Constellation Brands’s payout ratio is 37.95%.

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