Private Harbour Investment Management & Counsel LLC Sells 318 Shares of Constellation Brands, Inc. (NYSE:STZ)

Private Harbour Investment Management & Counsel LLC lowered its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 4.2% during the fourth quarter, HoldingsChannel reports. The fund owned 7,244 shares of the company’s stock after selling 318 shares during the quarter. Constellation Brands makes up about 1.8% of Private Harbour Investment Management & Counsel LLC’s portfolio, making the stock its 22nd biggest holding. Private Harbour Investment Management & Counsel LLC’s holdings in Constellation Brands were worth $1,601,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of STZ. Mainstream Capital Management LLC acquired a new position in shares of Constellation Brands during the fourth quarter valued at about $25,000. SBI Securities Co. Ltd. acquired a new position in Constellation Brands in the 4th quarter valued at approximately $26,000. Compagnie Lombard Odier SCmA acquired a new position in Constellation Brands in the 4th quarter valued at approximately $27,000. Union Bancaire Privee UBP SA bought a new stake in shares of Constellation Brands in the 4th quarter worth approximately $28,000. Finally, Versant Capital Management Inc increased its position 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 valued at $35,000 after purchasing an additional 142 shares during the period. 77.34% of the stock is owned by institutional investors.

Constellation Brands Price Performance

STZ opened at $178.35 on Wednesday. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.10 and a quick ratio of 0.46. The stock has a market capitalization of $32.23 billion, a P/E ratio of 47.94, a price-to-earnings-growth ratio of 1.52 and a beta of 0.90. The company’s 50 day simple moving average is $177.14 and its 200-day simple moving average is $215.89. Constellation Brands, Inc. has a one year low of $160.46 and a one year high of $274.87.

Constellation Brands (NYSE:STZ) last announced 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 firm had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.53 billion. Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. The firm’s quarterly revenue was down .3% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.19 earnings per share. Sell-side analysts anticipate that Constellation Brands, Inc. will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 7th were given a $1.01 dividend. The ex-dividend date was Friday, February 7th. This represents a $4.04 dividend on an annualized basis and a yield of 2.27%. Constellation Brands’s payout ratio is 108.60%.

Insider Activity

In related news, Director William T. Giles purchased 1,000 shares of the business’s stock in a transaction dated Friday, January 17th. The shares were bought at an average price of $186.39 per share, with a total value of $186,390.00. Following the purchase, the director now directly owns 1,463 shares in the company, valued at $272,688.57. This trade represents a 215.98 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Insiders own 12.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on STZ. Barclays decreased their price target on shares of Constellation Brands from $214.00 to $205.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Piper Sandler lowered shares of Constellation Brands from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $245.00 to $200.00 in a research report on Monday, February 3rd. Needham & Company LLC reissued a “buy” rating and issued a $240.00 price target on shares of Constellation Brands in a research report on Monday, January 27th. Citigroup downgraded Constellation Brands from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $260.00 to $200.00 in a report on Thursday, March 20th. Finally, Morgan Stanley cut Constellation Brands from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $220.00 to $202.00 in a report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $250.41.

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.