Tocqueville Asset Management L.P. Reduces Stock Position in Constellation Brands, Inc. (NYSE:STZ)

Tocqueville Asset Management L.P. cut its stake in Constellation Brands, Inc. (NYSE:STZ) by 33.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 48,946 shares of the company’s stock after selling 24,211 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in Constellation Brands were worth $10,817,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

A number of research firms recently commented on STZ. Evercore ISI decreased their price objective on Constellation Brands from $300.00 to $250.00 and set an “outperform” rating on the stock in a report on Monday, January 13th. Royal Bank of Canada decreased their price objective on Constellation Brands from $293.00 to $289.00 and set an “outperform” rating on the stock in a report on Friday, March 7th. UBS Group decreased their price target on Constellation Brands from $265.00 to $223.00 and set a “buy” rating on the stock in a research note on Friday, January 17th. Needham & Company LLC restated a “buy” rating and set a $240.00 price target on shares of Constellation Brands in a research note on Monday, January 27th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and set a $203.00 price target (down from $262.00) on shares of Constellation Brands in a research note on Monday, January 13th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $252.81.

Insider Activity at Constellation Brands

In other Constellation Brands news, Director William T. Giles bought 1,000 shares of the company’s stock in a transaction that occurred on Friday, January 17th. The shares were purchased at an average price of $186.39 per share, with a total value of $186,390.00. Following the completion of the acquisition, the director now directly owns 1,463 shares of the company’s stock, valued at $272,688.57. This represents a 215.98 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 12.19% of the stock is currently owned by corporate insiders.

Constellation Brands Stock Performance

NYSE:STZ opened at $183.53 on Tuesday. The firm has a market capitalization of $33.17 billion, a PE ratio of 49.34, a price-to-earnings-growth ratio of 1.52 and a beta of 1.75. The business’s fifty day moving average price is $179.79 and its 200 day moving average price is $218.70. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.10 and a quick ratio of 0.46. Constellation Brands, Inc. has a 12 month low of $160.46 and a 12 month high of $274.87.

Constellation Brands (NYSE:STZ) last posted 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 business had revenue of $2.46 billion during the quarter, compared to analysts’ expectations of $2.53 billion. Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. The business’s quarterly revenue was down .3% compared to the same quarter last year. During the same period last year, the company earned $3.19 EPS. On average, sell-side analysts anticipate that Constellation Brands, Inc. will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 7th were issued a $1.01 dividend. This represents a $4.04 annualized dividend and a yield of 2.20%. The ex-dividend date of this dividend was Friday, February 7th. Constellation Brands’s dividend payout ratio (DPR) 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.