Constellation Brands, Inc. (NYSE:STZ) Shares Bought by Independence Bank of Kentucky

Independence Bank of Kentucky raised its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 31.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,934 shares of the company’s stock after acquiring an additional 468 shares during the period. Independence Bank of Kentucky’s holdings in Constellation Brands were worth $526,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Burns Matteson Capital Management LLC increased its holdings in Constellation Brands by 1.7% in the 4th quarter. Burns Matteson Capital Management LLC now owns 2,499 shares of the company’s stock valued at $604,000 after purchasing an additional 42 shares during the last quarter. 1620 Investment Advisors Inc. raised its holdings in shares of Constellation Brands by 1.8% in the 4th quarter. 1620 Investment Advisors Inc. now owns 2,352 shares of the company’s stock valued at $569,000 after buying an additional 42 shares during the period. FAS Wealth Partners Inc. raised its holdings in shares of Constellation Brands by 3.5% in the 4th quarter. FAS Wealth Partners Inc. now owns 1,277 shares of the company’s stock valued at $309,000 after buying an additional 43 shares during the period. Smithfield Trust Co lifted its stake in Constellation Brands by 5.3% during the 4th quarter. Smithfield Trust Co now owns 854 shares of the company’s stock worth $207,000 after acquiring an additional 43 shares in the last quarter. Finally, Copperwynd Financial LLC boosted its holdings in Constellation Brands by 1.6% during the 4th quarter. Copperwynd Financial LLC now owns 2,779 shares of the company’s stock valued at $672,000 after acquiring an additional 43 shares during the period. 77.34% of the stock is owned by hedge funds and other institutional investors.

Constellation Brands Trading Up 0.5 %

NYSE STZ opened at $257.28 on Friday. Constellation Brands, Inc. has a 12 month low of $227.50 and a 12 month high of $274.87. The company has a market capitalization of $47.08 billion, a price-to-earnings ratio of 27.43, a price-to-earnings-growth ratio of 1.70 and a beta of 1.75. 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 firm’s fifty day moving average price is $255.34 and its 200 day moving average price is $253.68.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings data 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. The company had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.09 billion. Constellation Brands had a return on equity of 23.06% and a net margin of 16.13%. The business’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.98 earnings per share. On average, sell-side analysts expect that Constellation Brands, Inc. will post 13.67 earnings per share for the current fiscal year.

Constellation Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 17th. Stockholders of record on Friday, May 3rd were issued a $1.01 dividend. This is an increase from Constellation Brands’s previous quarterly dividend of $0.89. This represents a $4.04 annualized dividend and a dividend yield of 1.57%. The ex-dividend date of this dividend was Thursday, May 2nd. Constellation Brands’s dividend payout ratio is presently 43.07%.

Analyst Ratings Changes

STZ has been the topic of a number of recent research reports. Wedbush reissued an “outperform” rating and set a $300.00 price target on shares of Constellation Brands in a research report on Wednesday, April 10th. BMO Capital Markets increased their target price on shares of Constellation Brands from $290.00 to $315.00 and gave the stock an “outperform” rating in a report on Friday, April 12th. Barclays dropped their price target on shares of Constellation Brands from $295.00 to $288.00 and set an “overweight” rating for the company in a research note on Wednesday, May 29th. Royal Bank of Canada reiterated an “outperform” rating and issued a $308.00 price objective on shares of Constellation Brands in a research note on Tuesday, May 28th. Finally, HSBC boosted their target price on Constellation Brands from $290.00 to $300.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $298.37.

Insider Transactions at Constellation Brands

In related news, EVP Michael Mcgrew sold 3,237 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $255.50, for a total value of $827,053.50. Following the completion of the sale, the executive vice president now owns 1,731 shares in the company, valued at approximately $442,270.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, EVP Michael Mcgrew sold 3,237 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $255.50, for a total value 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William A. Newlands sold 4,013 shares of the 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 sale, the chief executive officer now directly owns 5,395 shares of the company’s stock, valued at $1,420,233.75. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 48,031 shares of company stock worth $12,582,321. Insiders own 12.19% of the company’s stock.

Constellation Brands 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.