Constellation Brands, Inc. (NYSE:STZ) Shares Sold by Spinnaker Trust

Spinnaker Trust lowered its holdings in Constellation Brands, Inc. (NYSE:STZ) by 4.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,541 shares of the company’s stock after selling 75 shares during the quarter. Spinnaker Trust’s holdings in Constellation Brands were worth $373,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Impact Partnership Wealth LLC raised its stake in shares of Constellation Brands by 1,175.0% during the 3rd quarter. Impact Partnership Wealth LLC now owns 102 shares of the company’s stock worth $26,000 after buying an additional 94 shares during the last quarter. BKM Wealth Management LLC acquired a new position in Constellation Brands in the 4th quarter valued at about $28,000. Asset Dedication LLC raised its stake in Constellation Brands by 3,833.3% in the 3rd quarter. Asset Dedication LLC now owns 118 shares of the company’s stock valued at $30,000 after purchasing an additional 115 shares during the last quarter. Turtle Creek Wealth Advisors LLC acquired a new position in Constellation Brands in the 4th quarter valued at about $37,000. Finally, Annis Gardner Whiting Capital Advisors LLC acquired a new position in Constellation Brands in the 3rd quarter valued at about $41,000. Institutional investors and hedge funds own 77.34% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Barclays boosted their target price on shares of Constellation Brands from $294.00 to $295.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. TheStreet downgraded shares of Constellation Brands from a “b” rating to a “c+” rating in a research note on Friday, January 5th. Evercore ISI boosted 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. BMO Capital Markets boosted their target price on shares of Constellation Brands from $290.00 to $315.00 and gave the company an “outperform” rating in a research note on Friday, April 12th. Finally, Argus upgraded Constellation Brands from a “hold” rating to a “buy” rating and set a $306.00 price target for the company in a report on Monday, April 15th. Three research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $298.55.

Constellation Brands Stock Down 0.6 %

Shares of STZ traded down $1.67 during trading on Friday, reaching $260.04. The company’s stock had a trading volume of 700,014 shares, compared to its average volume of 1,410,273. The company has a fifty day moving average of $259.80 and a two-hundred day moving average of $247.94. Constellation Brands, Inc. has a twelve month low of $221.81 and a twelve month high of $274.87. The company has a market cap of $47.54 billion, a price-to-earnings ratio of 27.72, a P/E/G ratio of 1.77 and a beta of 0.97. The company has a quick ratio of 0.53, a current ratio of 1.19 and a debt-to-equity ratio of 1.06.

Constellation Brands (NYSE:STZ) last announced its earnings results on Thursday, April 11th. The company reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.10 by $0.16. Constellation Brands had a return on equity of 23.06% and a net margin of 16.13%. The company had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.09 billion. During the same period in the prior year, the company posted $1.98 EPS. Constellation Brands’s quarterly revenue was up 7.1% on a year-over-year basis. On average, sell-side analysts predict that Constellation Brands, Inc. will post 13.51 EPS for the current fiscal year.

Constellation Brands Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Friday, May 3rd will be given a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.55%. This is a positive change from Constellation Brands’s previous quarterly dividend of $0.89. The ex-dividend date is Thursday, May 2nd. Constellation Brands’s dividend payout ratio is presently 37.95%.

Insider Activity at Constellation Brands

In related news, CEO William A. Newlands sold 4,013 shares of the company’s stock in a transaction that occurred on Friday, April 19th. The stock was sold at an average price of $263.25, for a total transaction 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 approximately $1,420,233.75. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO William A. Newlands sold 4,013 shares of the company’s stock in a transaction that occurred on Friday, April 19th. The stock was sold at an average price of $263.25, for a total transaction 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 approximately $1,420,233.75. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP James A. Jr. Sabia sold 15,781 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 20,910 shares in the company, valued at $5,512,503.30. The disclosure for this sale can be found here. Corporate insiders own 16.19% 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 Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Victoria, Vicky Chamoy, and Pacifico brands.