Chesapeake Wealth Management Sells 328 Shares of Constellation Brands, Inc. (STZ)

Chesapeake Wealth Management trimmed its holdings in Constellation Brands, Inc. (NYSE:STZ) by 16.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,631 shares of the company’s stock after selling 328 shares during the quarter. Chesapeake Wealth Management’s holdings in Constellation Brands were worth $286,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Constellation Brands by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 12,013,148 shares of the company’s stock valued at $2,590,276,000 after acquiring an additional 30,782 shares during the period. Vanguard Group Inc increased its stake in Constellation Brands by 0.3% in the 3rd quarter. Vanguard Group Inc now owns 12,013,148 shares of the company’s stock valued at $2,590,276,000 after buying an additional 30,782 shares during the period. Geode Capital Management LLC increased its stake in Constellation Brands by 6.6% in the 4th quarter. Geode Capital Management LLC now owns 1,937,070 shares of the company’s stock valued at $310,909,000 after buying an additional 120,139 shares during the period. Bank of New York Mellon Corp increased its stake in Constellation Brands by 3.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,866,918 shares of the company’s stock valued at $402,545,000 after buying an additional 59,594 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its stake in Constellation Brands by 2.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,674,254 shares of the company’s stock valued at $269,253,000 after buying an additional 33,340 shares during the period. 73.17% of the stock is currently owned by institutional investors and hedge funds.

In other Constellation Brands news, Director Barry A. Fromberg sold 810 shares of the business’s stock in a transaction on Friday, February 1st. The shares were sold at an average price of $173.05, for a total transaction of $140,170.50. Following the sale, the director now directly owns 20,550 shares in the company, valued at approximately $3,556,177.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Barry A. Fromberg sold 1,500 shares of the business’s stock in a transaction on Friday, February 15th. The stock was sold at an average price of $174.72, for a total transaction of $262,080.00. Following the sale, the director now owns 18,240 shares in the company, valued at $3,186,892.80. The disclosure for this sale can be found here. Insiders have sold a total of 5,381 shares of company stock worth $985,986 over the last 90 days. Insiders own 15.80% of the company’s stock.

Shares of NYSE STZ opened at $191.58 on Thursday. The firm has a market cap of $36.08 billion, a price-to-earnings ratio of 20.64, a P/E/G ratio of 2.58 and a beta of 0.45. Constellation Brands, Inc. has a one year low of $150.37 and a one year high of $236.62. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.49 and a current ratio of 1.16.

Constellation Brands (NYSE:STZ) last issued its earnings results on Thursday, April 4th. The company reported $1.84 EPS for the quarter, topping the consensus estimate of $1.72 by $0.12. The company had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.73 billion. Constellation Brands had a net margin of 38.67% and a return on equity of 15.63%. The business’s revenue was up 2.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.90 EPS. Analysts forecast that Constellation Brands, Inc. will post 8.53 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be given a dividend of $0.75 per share. This is a positive change from Constellation Brands’s previous quarterly dividend of $0.74. This represents a $3.00 annualized dividend and a dividend yield of 1.57%. The ex-dividend date is Thursday, May 9th. Constellation Brands’s payout ratio is presently 10.02%.

STZ has been the topic of several recent research reports. Credit Suisse Group set a $230.00 price objective on shares of Constellation Brands and gave the company a “buy” rating in a research note on Friday, April 5th. Zacks Investment Research cut shares of Constellation Brands from a “hold” rating to a “sell” rating in a research note on Monday, January 14th. Morgan Stanley set a $246.00 price objective on shares of Constellation Brands and gave the company a “buy” rating in a research note on Thursday, December 20th. Guggenheim raised shares of Constellation Brands from a “sell” rating to a “neutral” rating in a research note on Wednesday, January 9th. Finally, BMO Capital Markets dropped their price objective on shares of Constellation Brands to $225.00 and set an “outperform” rating on the stock in a research note on Thursday, January 10th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $222.42.

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About Constellation Brands

Constellation Brands, Inc, together with its subsidiaries, produces, imports, and markets beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. The company sells wine across various categories, including table wine, sparkling wine, and dessert wine. It provides beer primarily under the Corona Extra, Corona Light, Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands, as well as Funky Buddha, Obregon Brewery, and Ballast Point brands.

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Institutional Ownership by Quarter for Constellation Brands (NYSE:STZ)

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