Citizens Business Bank Reduces Stock Holdings in Constellation Brands, Inc. (NYSE:STZ)

Citizens Business Bank cut its holdings in Constellation Brands, Inc. (NYSE:STZ) by 4.6% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 15,226 shares of the company’s stock after selling 736 shares during the quarter. Citizens Business Bank’s holdings in Constellation Brands were worth $3,681,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Darsana Capital Partners LP raised its stake in Constellation Brands by 288.9% in the 3rd quarter. Darsana Capital Partners LP now owns 875,000 shares of the company’s stock worth $219,914,000 after acquiring an additional 650,000 shares during the last quarter. International Assets Investment Management LLC increased its holdings in shares of Constellation Brands by 24,922.5% in the fourth quarter. International Assets Investment Management LLC now owns 567,010 shares of the company’s stock valued at $137,075,000 after purchasing an additional 564,744 shares during the period. Phoenix Holdings Ltd. raised its stake in shares of Constellation Brands by 38.3% in the third quarter. Phoenix Holdings Ltd. now owns 551,447 shares of the company’s stock worth $138,608,000 after purchasing an additional 152,799 shares during the last quarter. Trexquant Investment LP acquired a new stake in shares of Constellation Brands during the third quarter worth about $30,640,000. Finally, HighTower Advisors LLC boosted its position in Constellation Brands by 70.0% in the third quarter. HighTower Advisors LLC now owns 218,190 shares of the company’s stock valued at $54,983,000 after buying an additional 89,822 shares during the last quarter. Institutional investors and hedge funds own 77.34% of the company’s stock.

Constellation Brands Price Performance

Shares of NYSE:STZ traded down $7.73 during midday trading on Tuesday, reaching $253.46. 1,757,367 shares of the company’s stock traded hands, compared to its average volume of 1,252,538. The company has a fifty day simple moving average of $260.15 and a two-hundred day simple moving average of $248.31. Constellation Brands, Inc. has a 1 year low of $221.81 and a 1 year high of $274.87. The company has a market cap of $46.34 billion, a P/E ratio of 27.02, a PEG ratio of 1.76 and a beta of 0.97. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.53 and a current ratio of 1.19.

Constellation Brands (NYSE:STZ) last released its earnings results on Thursday, April 11th. The company reported $2.26 EPS for the quarter, topping analysts’ consensus estimates of $2.10 by $0.16. The business 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 company’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.98 earnings per share. Equities analysts predict that Constellation Brands, Inc. will post 13.51 EPS for the current fiscal year.

Constellation Brands Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Friday, May 3rd will be issued a dividend of $1.01 per share. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.59%. This is a boost from Constellation Brands’s previous quarterly dividend of $0.89. Constellation Brands’s dividend payout ratio is presently 37.95%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on STZ shares. Jefferies Financial Group raised their price target on shares of Constellation Brands from $292.00 to $314.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Argus upgraded shares of Constellation Brands from a “hold” rating to a “buy” rating and set a $306.00 price objective on the stock in a research note on Monday, April 15th. HSBC boosted their target price on shares of Constellation Brands from $290.00 to $300.00 and gave the company a “buy” rating in a research report on Friday, April 12th. UBS Group increased their price target on Constellation Brands from $312.00 to $320.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Finally, BMO Capital Markets lifted their price objective on Constellation Brands from $290.00 to $315.00 and gave the company an “outperform” rating in a research note on Friday, April 12th. Three investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $298.55.

Insider Activity

In other Constellation Brands news, EVP James A. Jr. Sabia sold 15,781 shares of the firm’s stock in a transaction on Friday, April 12th. The stock was sold at an average price of $263.63, for a total value of $4,160,345.03. Following the transaction, the executive vice president now owns 20,910 shares in the company, valued at approximately $5,512,503.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP James A. Jr. Sabia sold 15,781 shares of the company’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $263.63, for a total transaction of $4,160,345.03. Following the completion of the sale, the executive vice president now owns 20,910 shares of the company’s stock, valued at approximately $5,512,503.30. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO William A. Newlands sold 4,013 shares of Constellation Brands stock in a transaction that occurred on Friday, April 19th. The stock was sold at an average price of $263.25, for a total value of $1,056,422.25. Following the transaction, the chief executive officer now owns 5,395 shares in the company, valued at approximately $1,420,233.75. The disclosure for this sale can be found here. Company insiders own 16.19% of the company’s stock.

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 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.