Azimuth Capital Investment Management LLC Sells 16,562 Shares of Constellation Brands, Inc. (NYSE:STZ)

Azimuth Capital Investment Management LLC trimmed its position in Constellation Brands, Inc. (NYSE:STZ) by 26.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,486 shares of the company’s stock after selling 16,562 shares during the period. Azimuth Capital Investment Management LLC’s holdings in Constellation Brands were worth $10,273,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Mainstream Capital Management LLC bought a new stake in Constellation Brands during the fourth quarter worth $25,000. SBI Securities Co. Ltd. purchased a new position in Constellation Brands during the 4th quarter valued at about $26,000. Compagnie Lombard Odier SCmA purchased a new stake in Constellation Brands in the 4th quarter worth approximately $27,000. Union Bancaire Privee UBP SA bought a new stake in Constellation Brands during the fourth quarter valued at $28,000. Finally, Versant Capital Management Inc grew its holdings in shares of Constellation Brands by 887.5% during the fourth quarter. Versant Capital Management Inc now owns 158 shares of the company’s stock worth $35,000 after purchasing an additional 142 shares in the last quarter. 77.34% of the stock is owned by institutional investors and hedge funds.

Constellation Brands Trading Down 1.2 %

STZ opened at $170.53 on Wednesday. The business’s 50 day moving average is $176.35 and its two-hundred day moving average is $210.64. The firm has a market cap of $30.82 billion, a price-to-earnings ratio of 45.84, a price-to-earnings-growth ratio of 1.52 and a beta of 1.75. Constellation Brands, Inc. has a 52 week low of $160.46 and a 52 week high of $274.87. The company has a quick ratio of 0.46, a current ratio of 1.10 and a debt-to-equity ratio of 1.26.

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

Insider Activity

In related news, Director William T. Giles purchased 1,000 shares of the business’s stock in a transaction that occurred on Friday, January 17th. The shares were purchased at an average cost 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 approximately $272,688.57. The trade was a 215.98 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 12.19% of the company’s stock.

Analyst Upgrades and Downgrades

STZ has been the topic of several analyst reports. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $203.00 price objective (down previously from $262.00) on shares of Constellation Brands in a report on Monday, January 13th. StockNews.com cut shares of Constellation Brands from a “hold” rating to a “sell” rating in a research report on Friday, March 14th. Piper Sandler cut Constellation Brands from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $245.00 to $200.00 in a research note on Monday, February 3rd. Argus cut shares of Constellation Brands from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $201.00 price target (down previously from $310.00) on shares of Constellation Brands in a report on Monday, January 13th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $244.32.

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.