Salem Investment Counselors Inc. Has $5.01 Million Stock Position in Constellation Brands, Inc. (NYSE:STZ)

Salem Investment Counselors Inc. trimmed its stake in Constellation Brands, Inc. (NYSE:STZ) by 2.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,647 shares of the company’s stock after selling 531 shares during the quarter. Salem Investment Counselors Inc.’s holdings in Constellation Brands were worth $5,005,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in STZ. Versant Capital Management Inc lifted its position in shares of Constellation Brands by 887.5% in 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. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Constellation Brands in the second quarter worth approximately $36,000. Eastern Bank purchased a new stake in shares of Constellation Brands in the third quarter worth approximately $39,000. FSA Wealth Management LLC purchased a new stake in shares of Constellation Brands in the third quarter worth approximately $42,000. Finally, Fairfield Financial Advisors LTD purchased a new stake in shares of Constellation Brands in the second quarter worth approximately $57,000. 77.34% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Constellation Brands

In related news, CEO William A. Newlands sold 25,000 shares of the stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $243.58, for a total transaction of $6,089,500.00. Following the completion of the sale, the chief executive officer now directly owns 7,274 shares of the company’s stock, valued at approximately $1,771,800.92. This represents a 77.46 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Wildstar Partners Llc sold 660 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $241.00, for a total value of $159,060.00. Following the sale, the insider now directly owns 1,736,884 shares of the company’s stock, valued at approximately $418,589,044. The trade was a 0.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 188,446 shares of company stock worth $45,687,281. Company insiders own 12.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on STZ shares. Jefferies Financial Group reaffirmed a “hold” rating and set a $201.00 price objective (down previously from $310.00) on shares of Constellation Brands in a research report on Monday. BMO Capital Markets cut their price objective on shares of Constellation Brands from $315.00 to $305.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 15th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $203.00 price objective (down previously from $262.00) on shares of Constellation Brands in a research report on Monday. Needham & Company LLC reaffirmed a “buy” rating and set a $280.00 price objective on shares of Constellation Brands in a research report on Friday. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $308.00 price objective on shares of Constellation Brands in a research report on Tuesday, January 7th. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $268.05.

Constellation Brands Stock Performance

STZ stock traded up $4.60 on Monday, reaching $186.41. 2,813,899 shares of the company were exchanged, compared to its average volume of 2,853,202. Constellation Brands, Inc. has a 12 month low of $176.51 and a 12 month high of $274.87. The stock’s fifty day moving average price is $231.88 and its 200 day moving average price is $241.28. The firm has a market capitalization of $33.84 billion, a PE ratio of 60.33, a PEG ratio of 1.69 and a beta of 1.75. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.25 and a quick ratio of 0.53.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Friday, January 10th. The company reported $3.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.33 by ($0.08). Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. The business had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.53 billion. During the same period last year, the firm earned $3.19 EPS. The company’s quarterly revenue was down .3% compared to the same quarter last year. On average, research analysts anticipate that Constellation Brands, Inc. will post 13.57 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Friday, February 7th will be given a dividend of $1.01 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $4.04 dividend on an annualized basis and a yield of 2.17%. Constellation Brands’s payout ratio is presently 130.74%.

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.