Carnegie Capital Asset Management LLC Has $1.98 Million Stock Position in Constellation Brands, Inc. (NYSE:STZ)

Carnegie Capital Asset Management LLC lessened its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 1.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 8,177 shares of the company’s stock after selling 124 shares during the quarter. Carnegie Capital Asset Management LLC’s holdings in Constellation Brands were worth $1,977,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Indiana Trust & Investment Management CO acquired a new stake in shares of Constellation Brands during the third quarter worth $25,000. Impact Partnership Wealth LLC boosted its holdings in shares of Constellation Brands by 1,175.0% during the 3rd quarter. Impact Partnership Wealth LLC now owns 102 shares of the company’s stock worth $26,000 after buying an additional 94 shares in the last quarter. BKM Wealth Management LLC acquired a new stake in shares of Constellation Brands during the 4th quarter worth approximately $28,000. Asset Dedication LLC increased its stake in shares of Constellation Brands by 3,833.3% in the 3rd quarter. Asset Dedication LLC now owns 118 shares of the company’s stock valued at $30,000 after acquiring an additional 115 shares in the last quarter. Finally, Resurgent Financial Advisors LLC bought a new position in shares of Constellation Brands in the fourth quarter valued at $34,000. Institutional investors own 77.34% of the company’s stock.

Constellation Brands Stock Performance

NYSE:STZ opened at $258.52 on Tuesday. The stock has a market cap of $47.26 billion, a P/E ratio of 27.56, a PEG ratio of 1.78 and a beta of 0.97. The business’s 50-day moving average price is $257.07 and its two-hundred day moving average price is $247.01. The company has a quick ratio of 0.53, a current ratio of 1.19 and a debt-to-equity ratio of 1.06. Constellation Brands, Inc. has a twelve month low of $221.81 and a twelve month high of $274.87.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings data on Thursday, April 11th. The company reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.10 by $0.16. The company had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.09 billion. Constellation Brands had a net margin of 16.13% and a return on equity of 23.06%. The firm’s revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.98 EPS. As a group, equities analysts predict that Constellation Brands, Inc. will post 13.43 EPS for the current fiscal year.

Constellation Brands Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Friday, May 3rd will be paid a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date of this dividend is Thursday, May 2nd. This is a positive change from Constellation Brands’s previous quarterly dividend of $0.89. Constellation Brands’s payout ratio is 37.95%.

Analyst Upgrades and Downgrades

STZ has been the topic of several recent research reports. TheStreet cut shares of Constellation Brands from a “b” rating to a “c+” rating in a research report on Friday, January 5th. Jefferies Financial Group raised their target price on Constellation Brands from $292.00 to $314.00 and gave the company a “buy” rating in a report on Friday. Bank of America upped their price target on Constellation Brands from $290.00 to $300.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Royal Bank of Canada raised their price objective on Constellation Brands from $295.00 to $308.00 and gave the company an “outperform” rating in a research note on Friday. Finally, Wedbush restated an “outperform” rating and set a $300.00 price target on shares of Constellation Brands in a report on Wednesday, April 10th. Three equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $298.55.

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 Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Victoria, Vicky Chamoy, and Pacifico brands.