TIAA Trust National Association Sells 69,156 Shares of Constellation Brands, Inc. (NYSE:STZ)

TIAA Trust National Association decreased its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 96.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,575 shares of the company’s stock after selling 69,156 shares during the quarter. TIAA Trust National Association’s holdings in Constellation Brands were worth $569,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Mainstream Capital Management LLC acquired a new position in shares of Constellation Brands during the fourth quarter worth approximately $25,000. SBI Securities Co. Ltd. bought a new position in Constellation Brands during the fourth quarter worth $26,000. Compagnie Lombard Odier SCmA bought a new position in Constellation Brands during the fourth quarter worth $27,000. Union Bancaire Privee UBP SA acquired a new position in Constellation Brands during the 4th quarter valued at $28,000. Finally, Versant Capital Management Inc boosted its holdings in 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 purchasing an additional 142 shares during the period. Institutional investors and hedge funds own 77.34% of the company’s stock.

Constellation Brands Stock Performance

NYSE STZ opened at $184.35 on Friday. Constellation Brands, Inc. has a 1-year low of $160.46 and a 1-year high of $274.87. The company has a 50 day moving average of $177.20 and a 200-day moving average of $215.45. The company has a current ratio of 1.10, a quick ratio of 0.46 and a debt-to-equity ratio of 1.26. The firm has a market cap of $33.32 billion, a price-to-earnings ratio of 49.56, a PEG ratio of 1.52 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Friday, January 10th. The company reported $3.25 earnings per share for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.08). Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. The business had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.53 billion. During the same period in the prior year, the business earned $3.19 earnings per share. The company’s revenue for the quarter was down .3% on a year-over-year basis. On average, equities analysts forecast that Constellation Brands, Inc. will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 7th were issued a $1.01 dividend. The ex-dividend date was Friday, February 7th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 2.19%. Constellation Brands’s dividend payout ratio is 108.60%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on STZ. Jefferies Financial Group restated a “hold” rating and set a $201.00 price objective (down previously from $310.00) on shares of Constellation Brands in a report on Monday, January 13th. TD Cowen lowered their price target on Constellation Brands from $270.00 to $260.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Royal Bank of Canada reduced their price objective on Constellation Brands from $293.00 to $289.00 and set an “outperform” rating for the company in a research report on Friday, March 7th. Evercore ISI lowered their price objective on Constellation Brands from $300.00 to $250.00 and set an “outperform” rating on the stock in a research report on Monday, January 13th. Finally, Wells Fargo & Company cut their target price on Constellation Brands from $295.00 to $275.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, Constellation Brands presently has a consensus rating of “Hold” and an average target price of $249.18.

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 stock was bought at an average cost of $186.39 per share, with a total value of $186,390.00. Following the completion of the purchase, the director now owns 1,463 shares in the company, valued at approximately $272,688.57. The trade was a 215.98 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 12.19% of the stock is owned by corporate insiders.

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.