Welch & Forbes LLC Cuts Stock Holdings in Constellation Brands, Inc. (NYSE:STZ)

Welch & Forbes LLC cut its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 0.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 77,779 shares of the company’s stock after selling 362 shares during the period. Welch & Forbes LLC’s holdings in Constellation Brands were worth $18,803,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in STZ. Morgan Stanley grew its stake in Constellation Brands by 1.5% during the third quarter. Morgan Stanley now owns 4,050,468 shares of the company’s stock worth $1,018,005,000 after buying an additional 58,518 shares during the period. Northern Trust Corp boosted its position in Constellation Brands by 3.7% during the 3rd quarter. Northern Trust Corp now owns 1,499,035 shares of the company’s stock worth $376,752,000 after purchasing an additional 53,862 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Constellation Brands by 9.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,015,105 shares of the company’s stock valued at $255,126,000 after purchasing an additional 85,330 shares in the last quarter. Darsana Capital Partners LP raised its position in Constellation Brands by 288.9% in the third quarter. Darsana Capital Partners LP now owns 875,000 shares of the company’s stock valued at $219,914,000 after purchasing an additional 650,000 shares during the period. Finally, Grantham Mayo Van Otterloo & Co. LLC lifted its stake in shares of Constellation Brands by 9.9% during the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 800,686 shares of the company’s stock worth $201,236,000 after purchasing an additional 71,979 shares in the last quarter. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Constellation Brands Price Performance

STZ traded up $1.23 during trading on Monday, reaching $257.31. The stock had a trading volume of 752,198 shares, compared to its average volume of 1,231,642. The stock has a 50 day moving average of $261.04 and a two-hundred day moving average of $249.04. The company has a quick ratio of 0.53, a current ratio of 1.19 and a debt-to-equity ratio of 1.06. The firm has a market capitalization of $47.08 billion, a price-to-earnings ratio of 27.43, a price-to-earnings-growth ratio of 1.73 and a beta of 0.95. Constellation Brands, Inc. has a 1-year low of $222.45 and a 1-year high of $274.87.

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. The firm had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.09 billion. Constellation Brands had a net margin of 16.13% and a return on equity of 23.06%. Constellation Brands’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.98 earnings per share. As a group, equities analysts anticipate that Constellation Brands, Inc. will post 13.51 EPS for the current fiscal year.

Constellation Brands Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Friday, May 3rd will be issued a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 1.57%. The ex-dividend date is Thursday, May 2nd. This is an increase from Constellation Brands’s previous quarterly dividend of $0.89. Constellation Brands’s payout ratio is presently 43.07%.

Insider Buying and Selling at Constellation Brands

In related news, 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 completion of the sale, the executive vice president now owns 20,910 shares in the company, valued at approximately $5,512,503.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, EVP James A. Jr. Sabia sold 15,781 shares of the company’s stock in a transaction 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 transaction, the executive vice president now directly owns 20,910 shares of the company’s stock, valued at $5,512,503.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William A. Newlands sold 4,013 shares of the firm’s stock in a transaction dated Friday, April 19th. The stock was sold at an average price of $263.25, for a total value of $1,056,422.25. Following the sale, the chief executive officer now owns 5,395 shares of the company’s stock, valued at $1,420,233.75. The disclosure for this sale can be found here. Insiders own 16.19% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on STZ shares. Roth Mkm restated a “buy” rating and issued a $305.00 target price on shares of Constellation Brands in a research note on Friday, April 12th. UBS Group raised their target price on Constellation Brands from $312.00 to $320.00 and gave the company a “buy” rating in a research note on Friday, April 12th. Argus upgraded Constellation Brands from a “hold” rating to a “buy” rating and set a $306.00 price target on the stock in a research note on Monday, April 15th. BMO Capital Markets raised their price objective on Constellation Brands from $290.00 to $315.00 and gave the company an “outperform” rating in a research note on Friday, April 12th. Finally, Royal Bank of Canada increased their target price on Constellation Brands from $295.00 to $308.00 and gave the company an “outperform” rating in a research note on Friday, April 12th. Three research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $298.55.

Constellation Brands 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.