Spinnaker Trust Sells 75 Shares of Constellation Brands, Inc. (NYSE:STZ)

Spinnaker Trust reduced its holdings in Constellation Brands, Inc. (NYSE:STZ) by 4.6% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,541 shares of the company’s stock after selling 75 shares during the period. Spinnaker Trust’s holdings in Constellation Brands were worth $373,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Impact Partnership Wealth LLC grew its holdings in shares of Constellation Brands by 1,175.0% during the 3rd quarter. Impact Partnership Wealth LLC now owns 102 shares of the company’s stock worth $26,000 after purchasing an additional 94 shares in the last quarter. BKM Wealth Management LLC acquired a new stake in shares of Constellation Brands during the 4th quarter worth approximately $28,000. Asset Dedication LLC grew its holdings in shares of Constellation Brands by 3,833.3% during the 3rd quarter. Asset Dedication LLC now owns 118 shares of the company’s stock worth $30,000 after purchasing an additional 115 shares in the last quarter. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Constellation Brands during the 4th quarter worth approximately $37,000. Finally, Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of Constellation Brands during the 3rd quarter worth approximately $41,000. 77.34% of the stock is owned by institutional investors.

Insider Transactions at Constellation Brands

In related news, CEO William A. Newlands sold 4,013 shares of the company’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 completion of the sale, the chief executive officer now owns 5,395 shares in the company, valued at $1,420,233.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP James A. Jr. Sabia sold 15,781 shares of the company’s stock in a transaction dated Friday, April 12th. The stock was 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 $5,512,503.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William A. Newlands sold 4,013 shares of the company’s stock in a transaction dated Friday, April 19th. The shares were sold at an average price of $263.25, for a total value of $1,056,422.25. Following the completion of the sale, the chief executive officer now owns 5,395 shares of the company’s stock, valued at approximately $1,420,233.75. The disclosure for this sale can be found here. 16.19% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on STZ. Argus raised Constellation Brands from a “hold” rating to a “buy” rating and set a $306.00 price objective on the stock in a report on Monday, April 15th. TheStreet lowered Constellation Brands from a “b” rating to a “c+” rating in a research note on Friday, January 5th. UBS Group boosted their price target on Constellation Brands from $312.00 to $320.00 and gave the company a “buy” rating in a research note on Friday, April 12th. Bank of America boosted their price target on Constellation Brands from $290.00 to $300.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Finally, Royal Bank of Canada boosted their price target 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 investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $298.55.

Constellation Brands Trading Down 0.6 %

Shares of STZ stock traded down $1.67 on Friday, reaching $260.04. 700,014 shares of the stock were exchanged, compared to its average volume of 1,410,273. The stock has a market cap of $47.54 billion, a PE ratio of 27.72, a P/E/G ratio of 1.77 and a beta of 0.97. Constellation Brands, Inc. has a one year low of $221.81 and a one year high of $274.87. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.19 and a quick ratio of 0.53. The stock has a 50 day moving average price of $259.80 and a 200 day moving average price of $247.94.

Constellation Brands (NYSE:STZ) last released its earnings results on Thursday, April 11th. The company reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates of $2.10 by $0.16. The company had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.09 billion. Constellation Brands had a return on equity of 23.06% and a net margin of 16.13%. The firm’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.98 earnings per share. Equities research analysts forecast that Constellation Brands, Inc. will post 13.51 EPS for the current fiscal year.

Constellation Brands Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Friday, May 3rd will be given a dividend of $1.01 per share. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.55%. This is an increase from Constellation Brands’s previous quarterly dividend of $0.89. Constellation Brands’s payout ratio is presently 37.95%.

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 Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Victoria, Vicky Chamoy, and Pacifico brands.