Private Trust Co. NA Grows Stock Holdings in Constellation Brands, Inc. (NYSE:STZ)

Private Trust Co. NA raised its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 0.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,236 shares of the company’s stock after buying an additional 67 shares during the period. Private Trust Co. NA’s holdings in Constellation Brands were worth $3,053,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Teacher Retirement System of Texas raised its position in Constellation Brands by 1.8% in the 3rd quarter. Teacher Retirement System of Texas now owns 12,786 shares of the company’s stock worth $3,214,000 after purchasing an additional 230 shares during the period. Wealthfront Advisers LLC raised its holdings in shares of Constellation Brands by 20.8% during the third quarter. Wealthfront Advisers LLC now owns 3,050 shares of the company’s stock worth $767,000 after purchasing an additional 526 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Constellation Brands by 0.4% during the third quarter. Principal Financial Group Inc. now owns 181,666 shares of the company’s stock worth $45,658,000 after purchasing an additional 706 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. raised its holdings in shares of Constellation Brands by 11.7% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,576 shares of the company’s stock worth $899,000 after purchasing an additional 375 shares during the last quarter. Finally, Private Advisor Group LLC increased its holdings in Constellation Brands by 1.0% in the third quarter. Private Advisor Group LLC now owns 16,969 shares of the company’s stock valued at $4,265,000 after buying an additional 166 shares in the last quarter. 77.34% of the stock is owned by hedge funds and other institutional investors.

Constellation Brands Price Performance

NYSE STZ traded down $3.81 during trading hours on Thursday, reaching $245.13. 1,282,101 shares of the stock traded hands, compared to its average volume of 1,188,136. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.19 and a quick ratio of 0.53. The company has a market cap of $44.85 billion, a price-to-earnings ratio of 26.13, a price-to-earnings-growth ratio of 1.69 and a beta of 0.95. The stock has a 50 day simple moving average of $261.29 and a two-hundred day simple moving average of $250.70. Constellation Brands, Inc. has a 1 year low of $227.50 and a 1 year high of $274.87.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings results on Thursday, April 11th. The company reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.10 by $0.16. The firm had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.09 billion. Constellation Brands had a return on equity of 23.06% and a net margin of 16.13%. The company’s revenue was up 7.1% on a year-over-year basis. During the same period last year, the company earned $1.98 earnings per share. On average, analysts predict that Constellation Brands, Inc. will post 13.53 EPS for the current fiscal year.

Constellation Brands Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 17th. Investors of record on Friday, May 3rd were given a $1.01 dividend. This is an increase from Constellation Brands’s previous quarterly dividend of $0.89. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date of this dividend was Thursday, May 2nd. Constellation Brands’s payout ratio is currently 43.07%.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Jefferies Financial Group boosted their target price on shares of Constellation Brands from $292.00 to $314.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. Bank of America increased their price objective on shares of Constellation Brands from $290.00 to $300.00 and gave the company a “buy” rating in a research report on Monday, March 18th. UBS Group upped their target price on shares of Constellation Brands from $312.00 to $320.00 and gave the company a “buy” rating in a report on Friday, April 12th. HSBC raised their target price on shares of Constellation Brands from $290.00 to $300.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. Finally, Argus upgraded shares of Constellation Brands from a “hold” rating to a “buy” rating and set a $306.00 price target for the company in a report on Monday, April 15th. Three equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $298.55.

Insider Transactions at Constellation Brands

In other Constellation Brands news, CEO William A. Newlands sold 25,000 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $261.54, for a total transaction of $6,538,500.00. Following the transaction, the chief executive officer now directly owns 14,700 shares in the company, valued at approximately $3,844,638. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO William A. Newlands sold 25,000 shares of Constellation Brands stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $261.54, for a total transaction of $6,538,500.00. Following the completion of the transaction, the chief executive officer now directly owns 14,700 shares of the company’s stock, valued at approximately $3,844,638. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP James A. Jr. Sabia sold 15,781 shares of the company’s stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $263.63, for a total transaction of $4,160,345.03. Following the transaction, the executive vice president now owns 20,910 shares of the company’s stock, valued at approximately $5,512,503.30. The disclosure for this sale can be found here. Insiders have sold a total of 48,031 shares of company stock worth $12,582,321 in the last three months. Insiders own 16.19% of the company’s stock.

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.