Pictet Asset Management Holding SA Has $18.29 Million Stock Position in Constellation Brands, Inc. (NYSE:STZ)

Pictet Asset Management Holding SA raised its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 1.0% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 82,748 shares of the company’s stock after purchasing an additional 791 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Constellation Brands were worth $18,287,000 at the end of the most recent quarter.

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

Constellation Brands Trading Up 0.8 %

NYSE:STZ opened at $184.98 on Wednesday. The firm’s 50 day moving average is $177.22 and its 200 day moving average is $213.55. Constellation Brands, Inc. has a 12 month low of $160.46 and a 12 month high of $274.87. The stock has a market capitalization of $33.43 billion, a PE ratio of 49.73, a price-to-earnings-growth ratio of 1.52 and a beta of 1.75. The company has a current ratio of 1.10, a quick ratio of 0.46 and a debt-to-equity ratio of 1.26.

Constellation Brands (NYSE:STZ) last posted 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 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 previous year, the company posted $3.19 EPS. The firm’s revenue was down .3% compared to the same quarter last year. Sell-side analysts expect that Constellation Brands, Inc. will post 13.5 earnings per share for the current year.

Constellation Brands Announces Dividend

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. This represents a $4.04 annualized dividend and a dividend yield of 2.18%. The ex-dividend date of this dividend was Friday, February 7th. Constellation Brands’s dividend payout ratio (DPR) is currently 108.60%.

Insider Buying and Selling

In related news, Director William T. Giles bought 1,000 shares of the company’s stock in a transaction on Friday, January 17th. The shares were purchased at an average price of $186.39 per share, for a total transaction of $186,390.00. Following the completion of the transaction, the director now directly owns 1,463 shares in the company, valued at approximately $272,688.57. The trade was a 215.98 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 12.19% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on STZ. Citigroup downgraded shares of Constellation Brands from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $260.00 to $200.00 in a research report on Thursday, March 20th. Barclays decreased their price target on shares of Constellation Brands from $205.00 to $203.00 and set an “overweight” rating for the company in a research note on Thursday, March 27th. Needham & Company LLC cut their price objective on shares of Constellation Brands from $240.00 to $215.00 and set a “buy” rating on the stock in a research report on Thursday, March 27th. Truist Financial decreased their target price on Constellation Brands from $255.00 to $190.00 and set a “hold” rating for the company in a research report on Tuesday, January 14th. Finally, Roth Capital cut their price target on Constellation Brands from $298.00 to $284.00 and set a “buy” rating on the stock in a report on Friday, January 17th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $249.18.

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.