Constellation Brands, Inc. (NYSE:STZ) Shares Bought by Ballentine Partners LLC

Ballentine Partners LLC grew its holdings in Constellation Brands, Inc. (NYSE:STZ) by 6.0% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 2,588 shares of the company’s stock after acquiring an additional 146 shares during the quarter. Ballentine Partners LLC’s holdings in Constellation Brands were worth $703,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BKM Wealth Management LLC acquired a new stake in shares of Constellation Brands during the fourth quarter worth about $28,000. Asset Dedication LLC boosted its stake in shares of Constellation Brands by 3,833.3% during the third quarter. Asset Dedication LLC now owns 118 shares of the company’s stock valued at $30,000 after acquiring an additional 115 shares during the last quarter. Kapitalo Investimentos Ltda purchased a new stake in Constellation Brands during the 4th quarter worth about $35,000. Turtle Creek Wealth Advisors LLC purchased a new stake in Constellation Brands during the fourth quarter valued at about $37,000. Finally, Exchange Traded Concepts LLC acquired a new stake in Constellation Brands during the fourth quarter worth about $45,000. 77.34% of the stock is owned by institutional investors and hedge funds.

Constellation Brands Trading Up 0.8 %

STZ traded up $2.10 during trading on Monday, reaching $265.60. The company had a trading volume of 95,204 shares, compared to its average volume of 1,183,976. The firm’s 50-day simple moving average is $255.18 and its 200 day simple moving average is $252.94. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.53 and a current ratio of 1.19. The company has a market cap of $48.60 billion, a price-to-earnings ratio of 28.09, a PEG ratio of 1.75 and a beta of 0.89. Constellation Brands, Inc. has a 12-month low of $227.50 and a 12-month high of $274.87.

Constellation Brands (NYSE:STZ) last released 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. The business had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.09 billion. Constellation Brands had a net margin of 16.13% and a return on equity of 23.06%. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period last year, the firm posted $1.98 earnings per share. Equities research analysts anticipate that Constellation Brands, Inc. will post 13.66 earnings per share for the current year.

Constellation Brands Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 17th. Shareholders of record on Friday, May 3rd were paid a $1.01 dividend. This represents a $4.04 annualized dividend and a yield of 1.52%. The ex-dividend date was Thursday, May 2nd. This is a positive change from Constellation Brands’s previous quarterly dividend of $0.89. Constellation Brands’s dividend payout ratio is currently 43.07%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on STZ shares. Jefferies Financial Group lifted their price objective on Constellation Brands from $292.00 to $314.00 and gave the company a “buy” rating in a research note on Friday, April 12th. Wedbush reissued an “outperform” rating and issued a $300.00 target price on shares of Constellation Brands in a research note on Wednesday, April 10th. 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 report on Monday, April 15th. HSBC 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 note on Friday, April 12th. Finally, UBS Group dropped their target price on shares of Constellation Brands from $320.00 to $315.00 and set a “buy” rating for the company in a research report on Thursday. Three research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $298.37.

Insider Buying and Selling

In other Constellation Brands news, EVP James A. Jr. Sabia sold 15,781 shares of the stock in a transaction on Friday, April 12th. The shares were sold at an average price of $263.63, for a total value of $4,160,345.03. Following the completion of the sale, the executive vice president now directly owns 20,910 shares of the company’s stock, valued at approximately $5,512,503.30. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO William A. Newlands sold 4,013 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 5,395 shares of the company’s stock, valued at $1,420,233.75. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 completion of the sale, the executive vice president now directly owns 20,910 shares in the company, valued at approximately $5,512,503.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 48,031 shares of company stock worth $12,582,321. Insiders own 12.19% 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.