Farther Finance Advisors LLC Decreases Stock Holdings in Constellation Brands, Inc. (NYSE:STZ)

Farther Finance Advisors LLC decreased its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 8.7% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 741 shares of the company’s stock after selling 71 shares during the period. Farther Finance Advisors LLC’s holdings in Constellation Brands were worth $164,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Van ECK Associates Corp lifted its position in shares of Constellation Brands by 1,844.7% during the 4th quarter. Van ECK Associates Corp now owns 924,274 shares of the company’s stock valued at $204,265,000 after buying an additional 876,745 shares in the last quarter. Copperleaf Capital LLC acquired a new position in Constellation Brands in the 4th quarter valued at $343,000. Grimes & Company Inc. acquired a new position in Constellation Brands in the 4th quarter valued at $6,099,000. Empowered Funds LLC raised its stake in Constellation Brands by 62.8% in the 4th quarter. Empowered Funds LLC now owns 16,575 shares of the company’s stock valued at $3,663,000 after purchasing an additional 6,391 shares during the last quarter. Finally, Southern Style Financial Inc. acquired a new position in Constellation Brands in the 4th quarter valued at $3,074,000. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Constellation Brands Stock Performance

Shares of Constellation Brands stock opened at $178.96 on Friday. The business has a 50-day moving average of $177.40 and a 200 day moving average of $217.72. Constellation Brands, Inc. has a 12 month low of $160.46 and a 12 month high of $274.87. The stock has a market capitalization of $32.34 billion, a price-to-earnings ratio of 48.11, a price-to-earnings-growth ratio of 1.52 and a beta of 1.75. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.10 and a quick ratio of 0.46.

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

Constellation Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 7th were paid a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 2.26%. The ex-dividend date of this dividend was Friday, February 7th. Constellation Brands’s payout ratio is presently 108.60%.

Insider Activity

In related news, Director William T. Giles acquired 1,000 shares of the firm’s stock in a transaction dated Friday, January 17th. The stock was acquired at an average price of $186.39 per share, for a total transaction of $186,390.00. Following the purchase, the director now owns 1,463 shares of the company’s stock, valued at $272,688.57. This represents a 215.98 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 12.19% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on STZ shares. StockNews.com downgraded Constellation Brands from a “hold” rating to a “sell” rating in a research note on Friday, March 14th. Argus downgraded Constellation Brands from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Barclays reduced their price objective on Constellation Brands from $214.00 to $205.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $203.00 price objective (down from $262.00) on shares of Constellation Brands in a research note on Monday, January 13th. Finally, BNP Paribas started coverage on Constellation Brands in a research note on Monday, November 25th. They issued a “neutral” rating and a $261.00 target price for the company. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $250.41.

About Constellation Brands

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.