FineMark National Bank & Trust Increases Stake in Constellation Brands, Inc. (NYSE:STZ)

FineMark National Bank & Trust increased its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 0.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 55,499 shares of the company’s stock after buying an additional 199 shares during the period. FineMark National Bank & Trust’s holdings in Constellation Brands were worth $12,265,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Van ECK Associates Corp increased its position 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 last quarter. Copperleaf Capital LLC acquired a new position in shares of Constellation Brands during the 4th quarter worth about $343,000. Grimes & Company Inc. purchased a new position in shares of Constellation Brands in the 4th quarter valued at about $6,099,000. Empowered Funds LLC raised its position in shares of Constellation Brands by 62.8% during the 4th quarter. Empowered Funds LLC now owns 16,575 shares of the company’s stock worth $3,663,000 after acquiring an additional 6,391 shares in the last quarter. Finally, Southern Style Financial Inc. acquired a new stake in shares of Constellation Brands during the 4th quarter worth about $3,074,000. Institutional investors and hedge funds own 77.34% of the company’s stock.

Insiders Place Their Bets

In other Constellation Brands news, Director William T. Giles purchased 1,000 shares of the firm’s stock in a transaction that occurred on Friday, January 17th. The shares were purchased at an average cost of $186.39 per share, for a total transaction of $186,390.00. Following the completion of the purchase, the director now directly owns 1,463 shares in the company, valued at $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 Securities & Exchange Commission, which is available through this hyperlink. 12.19% of the stock is currently owned by insiders.

Constellation Brands Price Performance

Shares of NYSE STZ opened at $180.48 on Tuesday. The stock has a fifty day moving average price of $177.22 and a 200 day moving average price of $216.39. Constellation Brands, Inc. has a 1-year low of $160.46 and a 1-year high of $274.87. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.10 and a quick ratio of 0.46. The company has a market cap of $32.62 billion, a PE ratio of 48.52, a P/E/G ratio of 1.52 and a beta of 0.90.

Constellation Brands (NYSE:STZ) last released its earnings results on Friday, January 10th. The company reported $3.25 EPS for the quarter, missing the consensus estimate of $3.33 by ($0.08). The firm had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.53 billion. Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The firm’s revenue was down .3% on a year-over-year basis. During the same quarter last year, the business posted $3.19 EPS. Sell-side analysts forecast that Constellation Brands, Inc. will post 13.5 EPS for the current year.

Constellation Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 7th were issued a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date of this dividend was Friday, February 7th. Constellation Brands’s dividend payout ratio is presently 108.60%.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Piper Sandler lowered shares of Constellation Brands from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $245.00 to $200.00 in a research note on Monday, February 3rd. Citigroup downgraded shares of Constellation Brands from a “buy” rating to a “neutral” rating and dropped their target price for the company from $260.00 to $200.00 in a research report on Thursday, March 20th. Jefferies Financial Group reiterated a “hold” rating and set a $201.00 price target (down from $310.00) on shares of Constellation Brands in a research note on Monday, January 13th. Argus downgraded shares of Constellation Brands from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Finally, Evercore ISI cut their target price on Constellation Brands from $300.00 to $250.00 and set an “outperform” rating on the stock in a research report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price 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.