Penobscot Investment Management Company Inc. Raises Stock Holdings in Constellation Brands, Inc. (NYSE:STZ)

Penobscot Investment Management Company Inc. grew its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 22.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 3,039 shares of the company’s stock after acquiring an additional 560 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in Constellation Brands were worth $735,000 at the end of the most recent reporting period.

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

Insider Buying and Selling

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

Constellation Brands Stock Performance

Shares of NYSE:STZ opened at $253.46 on Wednesday. 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 company has a market capitalization of $46.34 billion, a price-to-earnings ratio of 27.02, a price-to-earnings-growth ratio of 1.76 and a beta of 0.97. The firm has a 50 day moving average of $260.31 and a 200 day moving average of $248.46. Constellation Brands, Inc. has a 52 week low of $221.81 and a 52 week high of $274.87.

Constellation Brands (NYSE:STZ) last released 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. Constellation Brands had a return on equity of 23.06% and a net margin of 16.13%. The firm had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.09 billion. During the same period in the previous year, the company posted $1.98 EPS. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. On average, sell-side analysts predict that Constellation Brands, Inc. will post 13.51 earnings per share for the current fiscal year.

Constellation Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Friday, May 3rd will be given a $1.01 dividend. The ex-dividend date is Thursday, May 2nd. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.59%. This is an increase from Constellation Brands’s previous quarterly dividend of $0.89. Constellation Brands’s payout ratio is presently 37.95%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on STZ. Royal Bank of Canada boosted their target price on Constellation Brands from $295.00 to $308.00 and gave the company an “outperform” rating in a research report on Friday, April 12th. TheStreet downgraded shares of Constellation Brands from a “b” rating to a “c+” rating in a report on Friday, January 5th. Argus upgraded Constellation Brands from a “hold” rating to a “buy” rating and set a $306.00 target price for the company in a research report on Monday, April 15th. Wedbush reiterated an “outperform” rating and issued a $300.00 price target on shares of Constellation Brands in a report on Wednesday, April 10th. Finally, Roth Mkm restated a “buy” rating and set a $305.00 price objective on shares of Constellation Brands in a report on Friday, April 12th. Three analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, Constellation Brands presently has a consensus rating of “Moderate Buy” and a consensus price target of $298.55.

About Constellation Brands

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.