Constellation Brands, Inc. (NYSE:STZ) Shares Sold by Grassi Investment Management

Grassi Investment Management cut its holdings in Constellation Brands, Inc. (NYSE:STZ) by 10.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,989 shares of the company’s stock after selling 4,865 shares during the quarter. Grassi Investment Management’s holdings in Constellation Brands were worth $7,522,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Mainstream Capital Management LLC acquired a new stake in shares of Constellation Brands during the 4th quarter valued at approximately $25,000. SBI Securities Co. Ltd. acquired a new position in Constellation Brands during the fourth quarter worth $26,000. Compagnie Lombard Odier SCmA purchased a new stake in Constellation Brands during the fourth quarter worth $27,000. Union Bancaire Privee UBP SA purchased a new stake in Constellation Brands during the fourth quarter worth $28,000. Finally, Minot DeBlois Advisors LLC acquired a new stake in Constellation Brands in the fourth quarter valued at $29,000. Institutional investors and hedge funds own 77.34% of the company’s stock.

Insider Buying and Selling

In related news, EVP Samuel J. Glaetzer sold 3,150 shares of Constellation Brands stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $188.54, for a total value of $593,901.00. Following the completion of the sale, the executive vice president now directly owns 3,126 shares in the company, valued at $589,376.04. This trade represents a 50.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 12.19% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

STZ has been the topic of several research reports. Needham & Company LLC reiterated a “buy” rating and issued a $215.00 price target on shares of Constellation Brands in a research report on Thursday, April 10th. Wells Fargo & Company lowered their target price on Constellation Brands from $230.00 to $210.00 and set an “overweight” rating on the stock in a report on Wednesday, April 2nd. Wall Street Zen raised Constellation Brands from a “sell” rating to a “hold” rating in a report on Tuesday, May 20th. Royal Bank of Canada dropped their price objective on Constellation Brands from $289.00 to $233.00 and set an “outperform” rating for the company in a research report on Monday, April 14th. Finally, Citigroup cut their target price on shares of Constellation Brands from $200.00 to $190.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Constellation Brands has a consensus rating of “Moderate Buy” and an average target price of $225.74.

Constellation Brands Price Performance

Shares of Constellation Brands stock opened at $176.98 on Thursday. The firm’s 50-day moving average price is $184.42 and its two-hundred day moving average price is $194.64. The company has a current ratio of 1.10, a quick ratio of 0.46 and a debt-to-equity ratio of 1.26. The stock has a market capitalization of $31.51 billion, a price-to-earnings ratio of 47.58, a P/E/G ratio of 1.52 and a beta of 1.75. Constellation Brands, Inc. has a 1-year low of $160.46 and a 1-year high of $265.70.

Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Wednesday, April 9th. The company reported $2.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.28 by $0.35. Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The business had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.14 billion. During the same period in the previous year, the business posted $2.26 earnings per share. The firm’s revenue for the quarter was up 1.2% compared to the same quarter last year. On average, equities analysts predict that Constellation Brands, Inc. will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Tuesday, April 29th were issued a $1.02 dividend. The ex-dividend date was Tuesday, April 29th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.31%. This is a positive change from Constellation Brands’s previous quarterly dividend of $1.01. Constellation Brands’s dividend payout ratio (DPR) is currently -800.00%.

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.