American International Group Inc. Reduces Stock Position in Constellation Brands, Inc. (NYSE:STZ)

American International Group Inc. reduced its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 2.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 41,052 shares of the company’s stock after selling 917 shares during the period. American International Group Inc.’s holdings in Constellation Brands were worth $9,924,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Perigon Wealth Management LLC raised its stake in Constellation Brands by 46.0% in the fourth quarter. Perigon Wealth Management LLC now owns 6,012 shares of the company’s stock worth $1,453,000 after buying an additional 1,893 shares in the last quarter. Stifel Financial Corp raised its stake in Constellation Brands by 3.2% in the fourth quarter. Stifel Financial Corp now owns 192,585 shares of the company’s stock worth $46,570,000 after buying an additional 5,951 shares in the last quarter. CoreCap Advisors LLC raised its stake in Constellation Brands by 35.8% in the fourth quarter. CoreCap Advisors LLC now owns 2,002 shares of the company’s stock worth $484,000 after buying an additional 528 shares in the last quarter. Ascent Wealth Partners LLC bought a new position in Constellation Brands in the fourth quarter worth about $962,000. Finally, KBC Group NV raised its stake in Constellation Brands by 100.4% in the fourth quarter. KBC Group NV now owns 250,945 shares of the company’s stock worth $60,666,000 after buying an additional 125,730 shares in the last quarter. 77.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. UBS Group increased their price target on shares of Constellation Brands from $312.00 to $320.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. Evercore ISI raised their target price on shares of Constellation Brands from $300.00 to $310.00 and gave the company an “outperform” rating in a research note on Friday, April 12th. HSBC raised their target price on shares of Constellation Brands from $290.00 to $300.00 and gave the company a “buy” rating in a research note on Friday, April 12th. Roth Mkm reaffirmed a “buy” rating and set a $305.00 target price on shares of Constellation Brands in a research note on Friday, April 12th. Finally, Wedbush reaffirmed an “outperform” rating and set a $300.00 target price on shares of Constellation Brands in a research note on Wednesday, April 10th. Three analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Constellation Brands currently has an average rating of “Moderate Buy” and a consensus price target of $298.20.

Insider Transactions at Constellation Brands

In other news, EVP James A. Jr. Sabia sold 15,781 shares of Constellation Brands 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 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Michael Mcgrew sold 3,237 shares of Constellation Brands stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $255.50, for a total transaction of $827,053.50. Following the transaction, the executive vice president now owns 1,731 shares in the company, valued at approximately $442,270.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP James A. Jr. Sabia sold 15,781 shares of the firm’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 owns 20,910 shares in the company, valued at $5,512,503.30. The disclosure for this sale can be found here. Insiders have sold 48,031 shares of company stock worth $12,582,321 in the last 90 days. 12.19% of the stock is currently owned by insiders.

Constellation Brands Trading Up 0.5 %

Shares of STZ stock opened at $263.65 on Wednesday. Constellation Brands, Inc. has a 12-month low of $227.50 and a 12-month high of $274.87. 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 firm’s 50 day moving average is $255.29 and its 200 day moving average is $252.39. The stock has a market capitalization of $48.24 billion, a P/E ratio of 28.11, a P/E/G ratio of 1.73 and a beta of 0.89.

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

Constellation Brands Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 17th. Investors of record on Friday, May 3rd were issued a $1.01 dividend. The ex-dividend date of this dividend was Thursday, May 2nd. This represents a $4.04 annualized dividend and a yield of 1.53%. This is a boost from Constellation Brands’s previous quarterly dividend of $0.89. Constellation Brands’s dividend payout ratio (DPR) is currently 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.