Constellation Brands, Inc. (NYSE:STZ) Shares Sold by Tributary Capital Management LLC

Tributary Capital Management LLC lessened its position in Constellation Brands, Inc. (NYSE:STZ) by 28.1% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 1,456 shares of the company’s stock after selling 569 shares during the period. Tributary Capital Management LLC’s holdings in Constellation Brands were worth $396,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. BKM Wealth Management LLC acquired a new stake in shares of Constellation Brands in the 4th quarter worth $28,000. First Financial Corp IN acquired a new stake in shares of Constellation Brands in the 1st quarter worth $35,000. Kapitalo Investimentos Ltda acquired a new stake in shares of Constellation Brands in the 4th quarter worth $35,000. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Constellation Brands in the fourth quarter valued at about $37,000. Finally, Northwest Investment Counselors LLC acquired a new stake in shares of Constellation Brands in the first quarter valued at about $46,000. Institutional investors and hedge funds own 77.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Roth Mkm reiterated a “buy” rating and issued a $305.00 price objective on shares of Constellation Brands in a research note on Friday, April 12th. UBS Group reduced their price objective on shares of Constellation Brands from $320.00 to $315.00 and set a “buy” rating for the company in a research note on Thursday, June 20th. 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. Jefferies Financial Group raised their price objective on shares of Constellation Brands from $292.00 to $314.00 and gave the company a “buy” rating in a research note on Friday, April 12th. Finally, Barclays reduced their price objective 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. 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, Constellation Brands presently has a consensus rating of “Moderate Buy” and a consensus price target of $298.37.

Constellation Brands Stock Performance

Shares of STZ stock opened at $258.94 on Wednesday. Constellation Brands, Inc. has a one year low of $227.50 and a one year high of $274.87. 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 50 day moving average price of $255.27 and a 200 day moving average price of $253.86. The firm has a market capitalization of $47.38 billion, a price-to-earnings ratio of 27.61, a price-to-earnings-growth ratio of 1.71 and a beta of 0.87.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings results on Thursday, April 11th. The company reported $2.26 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 firm had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.09 billion. During the same quarter in the prior year, the business posted $1.98 earnings per share. Constellation Brands’s revenue for the quarter was up 7.1% compared to the same quarter last year. Sell-side analysts anticipate that Constellation Brands, Inc. will post 13.67 EPS for the current year.

Constellation Brands Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 17th. Shareholders of record on Friday, May 3rd were paid a dividend of $1.01 per share. This is an increase from Constellation Brands’s previous quarterly dividend of $0.89. This represents a $4.04 annualized dividend and a yield of 1.56%. The ex-dividend date was Thursday, May 2nd. Constellation Brands’s payout ratio is currently 43.07%.

Insiders Place Their Bets

In other Constellation Brands news, CEO William A. Newlands sold 25,000 shares of the business’s 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 sale, the chief executive officer now directly owns 14,700 shares in the company, valued at $3,844,638. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Constellation Brands news, CEO William A. Newlands sold 25,000 shares of the business’s 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 sale, the chief executive officer now directly owns 14,700 shares in the company, valued at $3,844,638. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP James A. Jr. Sabia sold 15,781 shares of the business’s stock in a transaction that occurred on 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 sale, the executive vice president now owns 20,910 shares of the company’s stock, valued at $5,512,503.30. The disclosure for this sale can be found here. Insiders sold a total of 48,031 shares of company stock worth $12,582,321 over the last ninety days. 12.19% of the stock is owned by company insiders.

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.