Private Harbour Investment Management & Counsel LLC Has $1.26 Million Position in Constellation Brands Inc (NYSE:STZ)

Private Harbour Investment Management & Counsel LLC lessened its position in Constellation Brands Inc (NYSE:STZ) by 4.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,886 shares of the company’s stock after selling 358 shares during the quarter. Constellation Brands makes up about 1.4% of Private Harbour Investment Management & Counsel LLC’s portfolio, making the stock its 26th biggest position. Private Harbour Investment Management & Counsel LLC’s holdings in Constellation Brands were worth $1,264,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Oppenheimer & Co. Inc. increased its position in shares of Constellation Brands by 39.3% during the 1st quarter. Oppenheimer & Co. Inc. now owns 20,953 shares of the company’s stock worth $3,845,000 after purchasing an additional 5,907 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its stake in shares of Constellation Brands by 28.9% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 7,360 shares of the company’s stock worth $1,351,000 after acquiring an additional 1,651 shares during the period. XML Financial LLC boosted its stake in shares of Constellation Brands by 10.8% during the 1st quarter. XML Financial LLC now owns 1,584 shares of the company’s stock worth $291,000 after acquiring an additional 155 shares during the period. Flagship Harbor Advisors LLC boosted its stake in shares of Constellation Brands by 122.3% during the 1st quarter. Flagship Harbor Advisors LLC now owns 4,281 shares of the company’s stock worth $786,000 after acquiring an additional 2,355 shares during the period. Finally, Altrius Capital Management Inc bought a new position in shares of Constellation Brands during the 1st quarter worth approximately $4,477,000. Institutional investors and hedge funds own 77.34% of the company’s stock.

Wall Street Analysts Forecast Growth

STZ has been the subject of several recent research reports. Morgan Stanley reduced their price target on Constellation Brands from $202.00 to $195.00 and set an “equal weight” rating for the company in a research note on Friday, April 11th. CJS Securities reduced their price target on Constellation Brands from $196.00 to $194.00 in a research note on Monday, May 19th. Citigroup reduced their price target on Constellation Brands from $190.00 to $170.00 and set a “neutral” rating for the company in a research note on Wednesday, June 18th. Bernstein Bank cut their target price on Constellation Brands from $260.00 to $225.00 and set an “outperform” rating for the company in a research report on Thursday, April 10th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $215.00 target price on shares of Constellation Brands in a research report on Thursday, April 10th. Eleven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $215.87.

Constellation Brands Stock Up 1.4%

STZ stock opened at $162.30 on Monday. Constellation Brands Inc has a fifty-two week low of $159.35 and a fifty-two week high of $265.70. The business’s 50 day moving average price is $181.16 and its two-hundred day moving average price is $187.96. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.56 and a current ratio of 0.92. The company has a market capitalization of $28.89 billion, a price-to-earnings ratio of -318.23, a price-to-earnings-growth ratio of 8.96 and a beta of 0.70.

Constellation Brands (NYSE:STZ) last released its quarterly earnings data on Wednesday, April 9th. The company reported $2.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.28 by $0.35. The business had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $2.14 billion. Constellation Brands had a positive return on equity of 29.56% and a negative net margin of 0.74%. The firm’s quarterly revenue was up 1.2% on a year-over-year basis. During the same period in the prior year, the firm posted $2.26 EPS. As a group, analysts forecast that Constellation Brands Inc will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Tuesday, April 29th were issued a $1.02 dividend. This is a boost from Constellation Brands’s previous quarterly dividend of $1.01. This represents a $4.08 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date was Tuesday, April 29th. Constellation Brands’s dividend payout ratio (DPR) is currently -800.00%.

Insider Buying and Selling

In other news, EVP Samuel J. Glaetzer sold 3,150 shares of the firm’s stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $188.54, for a total transaction of $593,901.00. Following the completion of the transaction, the executive vice president now owns 3,126 shares in the company, valued at $589,376.04. This trade represents a 50.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 12.45% of the stock is owned by insiders.

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.