Evercore Wealth Management LLC Sells 3,939 Shares of Constellation Brands, Inc. (NYSE:STZ)

Evercore Wealth Management LLC lessened its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 1.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 355,578 shares of the company’s stock after selling 3,939 shares during the quarter. Evercore Wealth Management LLC’s holdings in Constellation Brands were worth $78,583,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in STZ. Mainstream Capital Management LLC bought a new position in shares of Constellation Brands during the 4th quarter valued at $25,000. SBI Securities Co. Ltd. acquired 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 valued at about $27,000. Union Bancaire Privee UBP SA acquired a new stake in shares of Constellation Brands in the fourth quarter worth about $28,000. Finally, Versant Capital Management Inc boosted its stake 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 worth $35,000 after acquiring an additional 142 shares in the last quarter. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Constellation Brands Stock Down 0.1 %

Shares of STZ stock opened at $187.00 on Wednesday. The stock has a fifty day moving average price of $179.57 and a 200 day moving average price of $205.74. The stock has a market cap of $33.80 billion, a P/E ratio of 50.27, a price-to-earnings-growth ratio of 1.52 and a beta of 1.75. Constellation Brands, Inc. has a one year low of $160.46 and a one year high of $265.70. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.10 and a quick ratio of 0.46.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Wednesday, April 9th. The company reported $2.63 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 analyst estimates of $2.14 billion. Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. Constellation Brands’s quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.26 EPS. Analysts predict that Constellation Brands, Inc. will post 13.5 earnings per share for the current year.

Constellation Brands Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 29th will be given a dividend of $1.02 per share. The ex-dividend date is Tuesday, April 29th. This is a positive change from Constellation Brands’s previous quarterly dividend of $1.01. This represents a $4.08 dividend on an annualized basis and a yield of 2.18%. Constellation Brands’s dividend payout ratio is -800.00%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on STZ. Morgan Stanley cut their price objective on Constellation Brands from $202.00 to $195.00 and set an “equal weight” rating on the stock in a research note on Friday, April 11th. Roth Capital reduced their price objective on shares of Constellation Brands from $298.00 to $284.00 and set a “buy” rating for the company in a research note on Friday, January 17th. Barclays raised their target price on shares of Constellation Brands from $203.00 to $207.00 and gave the company an “overweight” rating in a research note on Monday, April 14th. The Goldman Sachs Group cut their target price on shares of Constellation Brands from $260.00 to $225.00 and set a “buy” rating for the company in a research report on Friday, April 11th. Finally, Argus downgraded Constellation Brands from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $224.42.

Constellation Brands 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.