Fisher Funds Management LTD Invests $5.23 Million in Constellation Brands, Inc. (NYSE:STZ)

Fisher Funds Management LTD acquired a new position in Constellation Brands, Inc. (NYSE:STZ) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 23,678 shares of the company’s stock, valued at approximately $5,231,000.

Other institutional investors have also made changes to their positions in the company. Compagnie Lombard Odier SCmA acquired a new stake in Constellation Brands in the 4th quarter valued at $27,000. Union Bancaire Privee UBP SA bought a new position in shares of Constellation Brands in the 4th quarter valued at about $28,000. Eastern Bank bought a new position in shares of Constellation Brands in the 3rd quarter valued at about $39,000. Versant Capital Management Inc increased its position in shares of 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. Finally, Centricity Wealth Management LLC bought a new stake in Constellation Brands during the fourth quarter worth about $35,000. Institutional investors own 77.34% of the company’s stock.

Analyst Upgrades and Downgrades

STZ has been the subject of a number of analyst reports. JPMorgan Chase & Co. restated a “neutral” rating and issued a $203.00 price target (down from $262.00) on shares of Constellation Brands in a research note on Monday, January 13th. Wells Fargo & Company cut their price objective on Constellation Brands from $295.00 to $275.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Roth Capital lowered their target price on shares of Constellation Brands from $298.00 to $284.00 and set a “buy” rating on the stock in a report on Friday, January 17th. TD Cowen dropped their price target on shares of Constellation Brands from $270.00 to $260.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $201.00 price objective (down previously from $310.00) on shares of Constellation Brands in a research report on Monday, January 13th. Ten equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, Constellation Brands currently has an average rating of “Moderate Buy” and an average price target of $254.29.

Constellation Brands Trading Up 2.1 %

Shares of Constellation Brands stock opened at $176.00 on Friday. Constellation Brands, Inc. has a 52-week low of $160.46 and a 52-week high of $274.87. The firm has a 50-day moving average of $194.29 and a 200-day moving average of $225.79. The stock has a market cap of $31.81 billion, a PE ratio of 47.31, a PEG ratio of 1.52 and a beta of 1.75. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.46 and a current ratio of 1.10.

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

Constellation Brands Dividend Announcement

The company also recently announced 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 2.30%. The ex-dividend date was Friday, February 7th. Constellation Brands’s payout ratio is presently 108.60%.

Insider Activity

In other Constellation Brands news, Director William T. Giles acquired 1,000 shares of the company’s stock in a transaction that occurred on Friday, January 17th. The stock was acquired at an average cost of $186.39 per share, for a total transaction of $186,390.00. Following the transaction, the director now directly owns 1,463 shares in the company, valued at $272,688.57. This represents a 215.98 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 12.19% of the company’s stock.

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.