Aviance Capital Partners LLC Trims Stock Position in Constellation Brands, Inc. (NYSE:STZ)

Aviance Capital Partners LLC reduced its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 1.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,227 shares of the company’s stock after selling 299 shares during the period. Aviance Capital Partners LLC’s holdings in Constellation Brands were worth $3,923,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. BKM Wealth Management LLC purchased a new position in Constellation Brands in the 4th quarter worth approximately $28,000. Asset Dedication LLC raised its position in Constellation Brands by 3,833.3% in the 3rd quarter. Asset Dedication LLC now owns 118 shares of the company’s stock worth $30,000 after purchasing an additional 115 shares during the period. Turtle Creek Wealth Advisors LLC bought a new stake in Constellation Brands in the fourth quarter worth $37,000. Annis Gardner Whiting Capital Advisors LLC bought a new stake in Constellation Brands in the third quarter worth $41,000. Finally, Exchange Traded Concepts LLC purchased a new stake in Constellation Brands during the fourth quarter valued at about $45,000. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Constellation Brands Stock Up 0.5 %

NYSE:STZ traded up $1.23 during mid-day trading on Monday, hitting $257.31. 752,198 shares of the company’s stock were exchanged, compared to its average volume of 1,231,642. The business has a fifty day moving average price of $261.04 and a 200 day moving average price of $249.04. Constellation Brands, Inc. has a one year low of $222.45 and a one year high of $274.87. The company has a market cap of $47.08 billion, a PE ratio of 27.43, a P/E/G ratio of 1.73 and a beta of 0.95. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.19 and a quick ratio of 0.53.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings results on Thursday, April 11th. The company reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.10 by $0.16. The company had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.09 billion. Constellation Brands had a return on equity of 23.06% and a net margin of 16.13%. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.98 EPS. Equities analysts predict that Constellation Brands, Inc. will post 13.51 EPS for the current year.

Constellation Brands Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Friday, May 3rd will be given a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 1.57%. The ex-dividend date of this dividend is Thursday, May 2nd. This is a positive change from Constellation Brands’s previous quarterly dividend of $0.89. Constellation Brands’s payout ratio is currently 43.07%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Evercore ISI boosted their target price on Constellation Brands from $300.00 to $310.00 and gave the company an “outperform” rating in a research note on Friday, April 12th. Roth Mkm reiterated a “buy” rating and issued a $305.00 price objective on shares of Constellation Brands in a research report on Friday, April 12th. Barclays raised their target price on shares of Constellation Brands from $294.00 to $295.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Royal Bank of Canada upped their price target on shares of Constellation Brands from $295.00 to $308.00 and gave the company an “outperform” rating in a report on Friday, April 12th. Finally, Wedbush reissued an “outperform” rating and issued a $300.00 price target on shares of Constellation Brands in a report on Wednesday, April 10th. Three equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $298.55.

Insider Buying and Selling

In other Constellation Brands news, EVP James A. Jr. Sabia sold 15,781 shares of the firm’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $263.63, for a total transaction of $4,160,345.03. Following the completion of the sale, the executive vice president now directly owns 20,910 shares in the company, valued at approximately $5,512,503.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Constellation Brands news, EVP James A. Jr. Sabia sold 15,781 shares of the stock in a transaction on Friday, April 12th. The stock was sold at an average price of $263.63, for a total transaction of $4,160,345.03. Following the sale, the executive vice president now directly owns 20,910 shares in the company, valued at approximately $5,512,503.30. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO William A. Newlands sold 4,013 shares of the business’s stock in a transaction on Friday, April 19th. The stock was sold at an average price of $263.25, for a total value of $1,056,422.25. Following the completion of the transaction, the chief executive officer now owns 5,395 shares of the company’s stock, valued at approximately $1,420,233.75. The disclosure for this sale can be found here. 16.19% of the stock is currently owned by company insiders.

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.