Connor Clark & Lunn Investment Management Ltd. Has $4.83 Million Stake in Constellation Brands, Inc. (NYSE:STZ)

Connor Clark & Lunn Investment Management Ltd. decreased its position in Constellation Brands, Inc. (NYSE:STZ) by 54.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,871 shares of the company’s stock after selling 25,704 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Constellation Brands were worth $4,833,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of STZ. Van ECK Associates Corp raised its stake in shares of Constellation Brands by 1,844.7% in the 4th quarter. Van ECK Associates Corp now owns 924,274 shares of the company’s stock valued at $204,265,000 after purchasing an additional 876,745 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Constellation Brands in the 4th quarter valued at about $105,766,000. State Street Corp raised its stake in shares of Constellation Brands by 6.0% in the 3rd quarter. State Street Corp now owns 7,144,428 shares of the company’s stock valued at $1,841,048,000 after purchasing an additional 402,211 shares during the period. Amundi raised its stake in shares of Constellation Brands by 54.9% in the 4th quarter. Amundi now owns 453,180 shares of the company’s stock valued at $99,373,000 after purchasing an additional 160,563 shares during the period. Finally, OFI Invest Asset Management bought a new position in shares of Constellation Brands in the 4th quarter valued at about $31,656,000. Institutional investors and hedge funds own 77.34% of the company’s stock.

Constellation Brands Trading Down 0.1 %

Shares of NYSE:STZ opened at $181.46 on Monday. Constellation Brands, Inc. has a 12-month low of $160.46 and a 12-month high of $274.87. The stock has a market cap of $32.79 billion, a PE ratio of 48.78, a P/E/G ratio of 1.52 and a beta of 1.75. The business has a 50 day moving average of $180.58 and a 200-day moving average of $219.08. The company has a quick ratio of 0.46, a current ratio of 1.10 and a debt-to-equity ratio of 1.26.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings data 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 return on equity of 26.55% and a net margin of 6.27%. The firm had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.53 billion. During the same quarter in the prior year, the firm earned $3.19 EPS. The company’s revenue was down .3% on a year-over-year basis. As a group, equities research analysts forecast that Constellation Brands, Inc. will post 13.5 earnings per share for the current year.

Constellation Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 7th were given a $1.01 dividend. The ex-dividend date was Friday, February 7th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 2.23%. Constellation Brands’s payout ratio is 108.60%.

Insider Activity

In other Constellation Brands news, Director William T. Giles purchased 1,000 shares of the company’s stock in a transaction dated Friday, January 17th. The stock was bought at an average cost of $186.39 per share, for a total transaction of $186,390.00. Following the completion of the transaction, the director now owns 1,463 shares in the company, valued at approximately $272,688.57. This represents a 215.98 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 12.19% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

STZ has been the subject of several analyst reports. Needham & Company LLC restated a “buy” rating and issued a $240.00 price objective on shares of Constellation Brands in a report on Monday, January 27th. Morgan Stanley cut Constellation Brands from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $220.00 to $202.00 in a report on Thursday, February 27th. Barclays decreased their price objective on Constellation Brands from $214.00 to $205.00 and set an “overweight” rating for the company in a report on Thursday. StockNews.com cut Constellation Brands from a “hold” rating to a “sell” rating in a report on Friday. Finally, Wells Fargo & Company decreased their price objective on Constellation Brands from $295.00 to $275.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $252.81.

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.