Legacy Private Trust Co. cut its position in Constellation Brands, Inc. (NYSE:STZ) by 32.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,533 shares of the company’s stock after selling 14,347 shares during the quarter. Legacy Private Trust Co.’s holdings in Constellation Brands were worth $5,178,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of the company. Eads & Heald Wealth Management grew its holdings in shares of Constellation Brands by 2.3% during the 4th quarter. Eads & Heald Wealth Management now owns 3,370 shares of the company’s stock valued at $542,000 after purchasing an additional 76 shares during the last quarter. National Asset Management Inc. grew its holdings in Constellation Brands by 2.5% during the 4th quarter. National Asset Management Inc. now owns 3,263 shares of the company’s stock worth $525,000 after acquiring an additional 79 shares during the last quarter. Bogart Wealth LLC grew its holdings in Constellation Brands by 17.6% during the 4th quarter. Bogart Wealth LLC now owns 574 shares of the company’s stock worth $92,000 after acquiring an additional 86 shares during the last quarter. San Francisco Sentry Investment Group CA grew its holdings in Constellation Brands by 2.7% during the 4th quarter. San Francisco Sentry Investment Group CA now owns 3,218 shares of the company’s stock worth $518,000 after acquiring an additional 86 shares during the last quarter. Finally, Central Bank & Trust Co. grew its holdings in Constellation Brands by 0.4% during the 3rd quarter. Central Bank & Trust Co. now owns 21,961 shares of the company’s stock worth $4,735,000 after acquiring an additional 89 shares during the last quarter. Institutional investors own 73.55% of the company’s stock.
STZ has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded shares of Constellation Brands from a “sell” rating to a “hold” rating in a research report on Wednesday, April 24th. ValuEngine upgraded shares of Constellation Brands from a “sell” rating to a “hold” rating in a research report on Thursday, April 4th. Macquarie set a $183.00 price objective on Constellation Brands and gave the company a “hold” rating in a report on Friday, April 5th. Deutsche Bank cut Constellation Brands from a “buy” rating to a “hold” rating and boosted their target price for the stock from $191.00 to $194.00 in a research note on Friday, April 5th. Finally, Morgan Stanley raised Constellation Brands to a “hold” rating in a research note on Friday, April 5th. Eleven investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Constellation Brands has an average rating of “Buy” and an average target price of $223.13.
Constellation Brands (NYSE:STZ) last issued its earnings results on Thursday, April 4th. The company reported $1.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.12. The business had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.73 billion. Constellation Brands had a return on equity of 15.63% and a net margin of 38.67%. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.90 EPS. On average, equities research analysts expect that Constellation Brands, Inc. will post 8.51 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Friday, May 10th will be paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.42%. This is an increase from Constellation Brands’s previous quarterly dividend of $0.74. The ex-dividend date is Thursday, May 9th. Constellation Brands’s dividend payout ratio is 10.02%.
In related news, VP Thomas Michael Kane sold 3,071 shares of the company’s stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $190.08, for a total value of $583,735.68. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Barry A. Fromberg sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, February 15th. The stock was sold at an average price of $174.72, for a total value of $262,080.00. Following the completion of the sale, the director now owns 18,240 shares in the company, valued at approximately $3,186,892.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,551 shares of company stock valued at $6,007,002. Company insiders own 15.80% of the company’s stock.
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Constellation Brands Profile
Constellation Brands, Inc, together with its subsidiaries, produces, imports, and markets beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. The company sells wine across various categories, including table wine, sparkling wine, and dessert wine. It provides beer primarily under the Corona Extra, Corona Light, Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands, as well as Funky Buddha, Obregon Brewery, and Ballast Point brands.
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