Artemis Investment Management LLP Sells 78,203 Shares of Constellation Brands, Inc. (NYSE:STZ)

Artemis Investment Management LLP decreased its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 53.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 68,618 shares of the company’s stock after selling 78,203 shares during the quarter. Artemis Investment Management LLP’s holdings in Constellation Brands were worth $15,165,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Eastern Bank purchased a new stake in shares of Constellation Brands in the third quarter worth $39,000. Versant Capital Management Inc raised its holdings in shares of Constellation Brands by 887.5% in the 4th quarter. Versant Capital Management Inc now owns 158 shares of the company’s stock valued at $35,000 after acquiring an additional 142 shares in the last quarter. FSA Wealth Management LLC bought a new stake in shares of Constellation Brands during the 3rd quarter valued at about $42,000. Truvestments Capital LLC purchased a new position in shares of Constellation Brands during the third quarter worth about $60,000. Finally, Northwest Investment Counselors LLC bought a new position in shares of Constellation Brands in the third quarter worth approximately $62,000. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Constellation Brands Stock Performance

Shares of STZ opened at $184.05 on Monday. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.25 and a quick ratio of 0.53. The firm has a market capitalization of $33.26 billion, a P/E ratio of 49.48, a PEG ratio of 1.28 and a beta of 1.75. The business has a fifty day moving average of $226.75 and a 200 day moving average of $238.82. Constellation Brands, Inc. has a one year low of $176.51 and a one year high of $274.87.

Constellation Brands (NYSE:STZ) last issued 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 25.34% and a net margin of 5.29%. The business had revenue of $2.46 billion for the quarter, compared to analysts’ expectations of $2.53 billion. During the same quarter in the prior year, the business earned $3.19 EPS. The company’s revenue was down .3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Constellation Brands, Inc. will post 13.72 EPS for the current year.

Constellation Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Friday, February 7th will be given a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date of this dividend is Friday, February 7th. Constellation Brands’s payout ratio is 108.60%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. StockNews.com cut shares of Constellation Brands from a “hold” rating to a “sell” rating in a research note on Friday. Jefferies Financial Group restated a “hold” rating and set a $201.00 price target (down previously from $310.00) on shares of Constellation Brands in a research report on Monday, January 13th. Royal Bank of Canada reiterated an “outperform” rating and set a $308.00 price objective on shares of Constellation Brands in a research report on Tuesday, January 7th. Roth Mkm reaffirmed a “buy” rating and issued a $298.00 target price on shares of Constellation Brands in a research note on Friday, October 4th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $280.00 target price on shares of Constellation Brands in a research report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $259.05.

Insider Activity

In related news, major shareholder Wildstar Partners Llc sold 660 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $241.00, for a total transaction of $159,060.00. Following the completion of the transaction, the insider now directly owns 1,736,884 shares of the company’s stock, valued at approximately $418,589,044. This represents a 0.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP James A. Jr. Sabia sold 36,086 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $242.99, for a total value of $8,768,537.14. Following the sale, the executive vice president now directly owns 16,042 shares in the company, valued at $3,898,045.58. The trade was a 69.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 69,172 shares of company stock valued at $16,778,841 in the last ninety days. Corporate insiders own 12.19% of the company’s stock.

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.