Picton Mahoney Asset Management Trims Position in Constellation Brands, Inc. (NYSE:STZ)

Picton Mahoney Asset Management cut its position in Constellation Brands, Inc. (NYSE:STZ) by 19.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,745 shares of the company’s stock after selling 2,790 shares during the period. Picton Mahoney Asset Management’s holdings in Constellation Brands were worth $2,839,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Burns Matteson Capital Management LLC lifted its stake in Constellation Brands by 1.7% during the 4th quarter. Burns Matteson Capital Management LLC now owns 2,499 shares of the company’s stock valued at $604,000 after acquiring an additional 42 shares during the period. FAS Wealth Partners Inc. lifted its stake in shares of Constellation Brands by 3.5% in the 4th quarter. FAS Wealth Partners Inc. now owns 1,277 shares of the company’s stock valued at $309,000 after purchasing an additional 43 shares during the period. Schear Investment Advisers LLC lifted its stake in shares of Constellation Brands by 1.8% in the 4th quarter. Schear Investment Advisers LLC now owns 2,522 shares of the company’s stock valued at $610,000 after purchasing an additional 44 shares during the period. Lincoln National Corp lifted its stake in shares of Constellation Brands by 2.0% in the 3rd quarter. Lincoln National Corp now owns 2,565 shares of the company’s stock valued at $645,000 after purchasing an additional 50 shares during the period. Finally, Trivant Custom Portfolio Group LLC lifted its stake in shares of Constellation Brands by 0.5% in the 3rd quarter. Trivant Custom Portfolio Group LLC now owns 10,449 shares of the company’s stock valued at $2,626,000 after purchasing an additional 52 shares during the period. 77.34% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Constellation Brands

In other Constellation Brands news, EVP James A. Jr. Sabia sold 15,781 shares of the 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 transaction, the executive vice president now directly owns 20,910 shares in the company, valued at $5,512,503.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP James A. Jr. Sabia sold 15,781 shares of the firm’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 transaction of $4,160,345.03. Following the transaction, the executive vice president now directly owns 20,910 shares in the company, valued at $5,512,503.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Michael Mcgrew sold 3,237 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $255.50, for a total transaction of $827,053.50. Following the transaction, the executive vice president now owns 1,731 shares in the company, valued at $442,270.50. The disclosure for this sale can be found here. Insiders have sold 23,031 shares of company stock worth $6,043,821 over the last three months. Insiders own 16.19% of the company’s stock.

Constellation Brands Trading Down 0.1 %

STZ stock traded down $0.13 during mid-day trading on Wednesday, hitting $258.36. 404,746 shares of the company were exchanged, compared to its average volume of 1,216,033. 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 $47.27 billion, a P/E ratio of 27.54, a PEG ratio of 1.73 and a beta of 1.75. The business has a fifty day simple moving average of $261.27 and a 200-day simple moving average of $249.24. Constellation Brands, Inc. has a 12-month low of $223.01 and a 12-month high of $274.87.

Constellation Brands (NYSE:STZ) last announced its earnings results on Thursday, April 11th. The company reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.10 by $0.16. The company had revenue of $2.14 billion during the quarter, compared to analyst estimates 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 was up 7.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.98 earnings per share. On average, equities research analysts predict that Constellation Brands, Inc. will post 13.51 earnings per share for the current fiscal year.

Constellation Brands Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Friday, May 3rd will be paid a $1.01 dividend. This is a positive change from Constellation Brands’s previous quarterly dividend of $0.89. This represents a $4.04 annualized dividend and a yield of 1.56%. The ex-dividend date is Thursday, May 2nd. Constellation Brands’s dividend payout ratio is currently 43.07%.

Analysts Set New Price Targets

Several research firms recently issued reports on STZ. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Constellation Brands from $256.00 to $262.00 and gave the company a “hold” rating in a research note on Wednesday, April 10th. Barclays upped their price objective on shares of Constellation Brands from $294.00 to $295.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. UBS Group upped their price objective on shares of Constellation Brands from $312.00 to $320.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Royal Bank of Canada upped their price objective on shares of Constellation Brands from $295.00 to $308.00 and gave the stock an “outperform” rating in a research report on Friday, April 12th. Finally, Roth Mkm restated a “buy” rating and set a $305.00 price objective on shares of Constellation Brands in a research report on Friday, April 12th. Three equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average 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.