Wesbanco Bank Inc. Sells 4,155 Shares of Constellation Brands Inc $STZ

Wesbanco Bank Inc. reduced its stake in Constellation Brands Inc (NYSE:STZ) by 29.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,138 shares of the company’s stock after selling 4,155 shares during the period. Wesbanco Bank Inc.’s holdings in Constellation Brands were worth $1,399,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in STZ. Brighton Jones LLC boosted its holdings in shares of Constellation Brands by 23.0% in the fourth quarter. Brighton Jones LLC now owns 1,001 shares of the company’s stock worth $221,000 after acquiring an additional 187 shares during the period. Woodline Partners LP bought a new position in shares of Constellation Brands in the first quarter worth $2,409,000. Cary Street Partners Financial LLC boosted its holdings in shares of Constellation Brands by 69.9% in the second quarter. Cary Street Partners Financial LLC now owns 1,026 shares of the company’s stock worth $167,000 after acquiring an additional 422 shares during the period. Bank of Nova Scotia boosted its holdings in shares of Constellation Brands by 3.6% in the second quarter. Bank of Nova Scotia now owns 17,347 shares of the company’s stock worth $2,822,000 after acquiring an additional 599 shares during the period. Finally, Daiwa Securities Group Inc. raised its position in shares of Constellation Brands by 5.0% in the second quarter. Daiwa Securities Group Inc. now owns 23,732 shares of the company’s stock worth $3,861,000 after buying an additional 1,127 shares in the last quarter. 77.34% of the stock is owned by institutional investors.

Constellation Brands Trading Down 1.5%

NYSE STZ opened at $148.00 on Friday. The stock’s 50-day simple moving average is $154.20 and its two-hundred day simple moving average is $147.99. Constellation Brands Inc has a twelve month low of $126.45 and a twelve month high of $196.91. The company has a quick ratio of 0.55, a current ratio of 1.08 and a debt-to-equity ratio of 1.16. The company has a market capitalization of $25.49 billion, a price-to-earnings ratio of 15.43, a PEG ratio of 3.25 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Wednesday, April 8th. The company reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.71 by $0.19. Constellation Brands had a return on equity of 26.18% and a net margin of 17.29%.The business had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter last year, the business posted $2.63 earnings per share. The company’s revenue for the quarter was down 11.3% on a year-over-year basis. Research analysts forecast that Constellation Brands Inc will post 11.9 EPS for the current fiscal year.

Constellation Brands Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 14th. Shareholders of record on Wednesday, April 29th will be given a dividend of $1.03 per share. The ex-dividend date is Wednesday, April 29th. This is a positive change from Constellation Brands’s previous quarterly dividend of $1.02. This represents a $4.12 dividend on an annualized basis and a yield of 2.8%. Constellation Brands’s dividend payout ratio (DPR) is 42.96%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Bank of America increased their price objective on Constellation Brands from $142.00 to $154.00 and gave the stock an “underperform” rating in a research report on Friday, April 10th. UBS Group increased their price objective on Constellation Brands from $176.00 to $186.00 and gave the stock a “buy” rating in a research report on Friday, April 10th. Morgan Stanley increased their price objective on Constellation Brands from $160.00 to $183.00 and gave the stock an “equal weight” rating in a research report on Friday, April 10th. TD Cowen upgraded Constellation Brands from a “hold” rating to a “buy” rating and increased their price objective for the stock from $142.00 to $190.00 in a research report on Monday, April 13th. Finally, Barclays increased their price objective on Constellation Brands from $151.00 to $170.00 and gave the stock an “equal weight” rating in a research report on Friday, April 10th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $176.30.

Constellation Brands Company Profile

Constellation Brands, Inc is a leading producer and marketer of beer, wine and spirits, with operations spanning production, importation, marketing and distribution. The company’s beverage portfolio includes a range of premium and mainstream wines and spirits alongside major imported beer brands; in the U.S. market Constellation is widely known for its role in bringing Mexican imports such as Corona and Modelo to American consumers. Constellation supplies retail, on‑premise and foodservice channels and supports its brands with national sales and marketing platforms and supply‑chain capabilities.

The company traces its roots to the Canandaigua Wine Company, founded by Marvin Sands in 1945, and evolved through organic growth and acquisition into a diversified beverage company.