Constellation Brands, Inc. (NYSE:STZ) Shares Sold by Korea Investment CORP

Korea Investment CORP decreased its holdings in Constellation Brands, Inc. (NYSE:STZ) by 12.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 150,064 shares of the company’s stock after selling 21,870 shares during the quarter. Korea Investment CORP owned about 0.08% of Constellation Brands worth $33,164,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Mainstream Capital Management LLC purchased a new stake in Constellation Brands during the 4th quarter worth approximately $25,000. SBI Securities Co. Ltd. acquired a new stake in shares of Constellation Brands during the fourth quarter worth $26,000. Compagnie Lombard Odier SCmA purchased a new stake in shares of Constellation Brands during the fourth quarter valued at $27,000. Union Bancaire Privee UBP SA acquired a new position in shares of Constellation Brands in the 4th quarter valued at $28,000. Finally, Versant Capital Management Inc raised its stake in Constellation Brands by 887.5% in the 4th quarter. Versant Capital Management Inc now owns 158 shares of the company’s stock worth $35,000 after acquiring an additional 142 shares during the last quarter. 77.34% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on STZ shares. Barclays dropped their price target on Constellation Brands from $205.00 to $203.00 and set an “overweight” rating on the stock in a research note on Thursday. UBS Group dropped their target price on Constellation Brands from $265.00 to $223.00 and set a “buy” rating on the stock in a research report on Friday, January 17th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $203.00 price target (down from $262.00) on shares of Constellation Brands in a research report on Monday, January 13th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $201.00 price objective (down from $310.00) on shares of Constellation Brands in a report on Monday, January 13th. Finally, Morgan Stanley cut shares of Constellation Brands from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $220.00 to $202.00 in a report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, Constellation Brands has a consensus rating of “Hold” and a consensus target price of $249.18.

Insider Buying and Selling

In other Constellation Brands news, Director William T. Giles bought 1,000 shares of the stock in a transaction on Friday, January 17th. The shares were bought at an average price of $186.39 per share, with a total value of $186,390.00. Following the purchase, the director now directly owns 1,463 shares in the company, valued at $272,688.57. This trade represents a 215.98 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 12.19% of the stock is owned by company insiders.

Constellation Brands Price Performance

Shares of NYSE STZ opened at $183.69 on Friday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.46 and a current ratio of 1.10. The firm has a market cap of $33.20 billion, a PE ratio of 49.38, a PEG ratio of 1.52 and a beta of 1.75. Constellation Brands, Inc. has a one year low of $160.46 and a one year high of $274.87. The firm has a fifty day moving average of $177.19 and a 200 day moving average of $214.99.

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

Constellation Brands Dividend Announcement

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date of this dividend was Friday, February 7th. Constellation Brands’s dividend payout ratio is presently 108.60%.

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 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.