First National Trust Co Sells 3,898 Shares of Constellation Brands, Inc. (NYSE:STZ)

First National Trust Co trimmed its holdings in Constellation Brands, Inc. (NYSE:STZ) by 10.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 33,824 shares of the company’s stock after selling 3,898 shares during the period. First National Trust Co’s holdings in Constellation Brands were worth $8,177,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Morgan Stanley increased its stake in Constellation Brands by 1.5% in the third quarter. Morgan Stanley now owns 4,050,468 shares of the company’s stock worth $1,018,005,000 after purchasing an additional 58,518 shares during the period. Northern Trust Corp grew its holdings in shares of Constellation Brands by 3.7% in the third quarter. Northern Trust Corp now owns 1,499,035 shares of the company’s stock worth $376,752,000 after purchasing an additional 53,862 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Constellation Brands by 9.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,015,105 shares of the company’s stock worth $255,126,000 after buying an additional 85,330 shares during the period. Darsana Capital Partners LP lifted its holdings in Constellation Brands by 288.9% during the 3rd quarter. Darsana Capital Partners LP now owns 875,000 shares of the company’s stock valued at $219,914,000 after buying an additional 650,000 shares in the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC boosted its position in Constellation Brands by 9.9% in the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 800,686 shares of the company’s stock valued at $201,236,000 after buying an additional 71,979 shares during the period. 77.34% of the stock is owned by institutional investors.

Insider Activity at Constellation Brands

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

Wall Street Analyst Weigh In

STZ has been the topic of a number of research reports. Jefferies Financial Group raised their target price 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. Wedbush reaffirmed an “outperform” rating and set a $300.00 target price on shares of Constellation Brands in a research report on Wednesday, April 10th. Deutsche Bank Aktiengesellschaft increased their price target on Constellation Brands from $256.00 to $262.00 and gave the stock a “hold” rating in a research report on Wednesday, April 10th. Barclays raised their price target on Constellation Brands from $294.00 to $295.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Finally, Royal Bank of Canada upped their price objective on shares of Constellation Brands from $295.00 to $308.00 and gave the stock an “outperform” rating in a research note on Friday, April 12th. Three equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, Constellation Brands has an average rating of “Moderate Buy” and an average target price of $298.55.

Constellation Brands Stock Up 0.8 %

Shares of STZ stock traded up $2.00 during trading hours on Friday, reaching $256.08. 735,854 shares of the company’s stock were exchanged, compared to its average volume of 1,409,209. Constellation Brands, Inc. has a fifty-two week low of $221.81 and a fifty-two week high of $274.87. The stock’s 50 day moving average is $260.83 and its 200-day moving average is $248.69. The company has a current ratio of 1.19, a quick ratio of 0.53 and a debt-to-equity ratio of 1.06. The company has a market cap of $46.82 billion, a price-to-earnings ratio of 27.30, a P/E/G ratio of 1.73 and a beta of 0.95.

Constellation Brands (NYSE:STZ) last announced its earnings results on Thursday, April 11th. The company reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.10 by $0.16. Constellation Brands had a return on equity of 23.06% and a net margin of 16.13%. The firm had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.09 billion. During the same period in the previous year, the business earned $1.98 EPS. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. Analysts predict that Constellation Brands, Inc. will post 13.51 earnings per share for the current fiscal year.

Constellation Brands Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Friday, May 3rd will be given a $1.01 dividend. This is a positive change from Constellation Brands’s previous quarterly dividend of $0.89. This represents a $4.04 annualized dividend and a dividend yield of 1.58%. The ex-dividend date is Thursday, May 2nd. Constellation Brands’s dividend payout ratio (DPR) is presently 43.07%.

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.