Trivant Custom Portfolio Group LLC Sells 422 Shares of Constellation Brands, Inc. (NYSE:STZ)

Trivant Custom Portfolio Group LLC trimmed its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 4.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,823 shares of the company’s stock after selling 422 shares during the quarter. Constellation Brands makes up 1.7% of Trivant Custom Portfolio Group LLC’s investment portfolio, making the stock its 29th largest position. Trivant Custom Portfolio Group LLC’s holdings in Constellation Brands were worth $2,669,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of STZ. Morgan Stanley lifted its holdings in Constellation Brands by 1.5% in the 3rd 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. Capital Research Global Investors lifted its holdings in Constellation Brands by 12.9% in the 4th quarter. Capital Research Global Investors now owns 2,247,617 shares of the company’s stock worth $543,361,000 after buying an additional 256,738 shares during the period. Norges Bank purchased a new stake in Constellation Brands in the 4th quarter worth approximately $443,844,000. Charles Schwab Investment Management Inc. lifted its holdings in Constellation Brands by 38.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,403,495 shares of the company’s stock worth $335,402,000 after buying an additional 388,390 shares during the period. Finally, Darsana Capital Partners LP lifted its holdings in Constellation Brands by 288.9% in the 3rd quarter. Darsana Capital Partners LP now owns 875,000 shares of the company’s stock worth $219,914,000 after buying an additional 650,000 shares during the period. 77.34% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

STZ has been the subject of a number of research analyst reports. Barclays lowered their target price on Constellation Brands from $295.00 to $288.00 and set an “overweight” rating for the company in a research note on Wednesday, May 29th. HSBC boosted their price target on Constellation Brands from $290.00 to $300.00 and gave the company a “buy” rating in a report on Friday, April 12th. Evercore ISI boosted their price target on Constellation Brands from $300.00 to $310.00 and gave the company an “outperform” rating in a report on Friday, April 12th. Royal Bank of Canada restated an “outperform” rating and issued a $308.00 price objective on shares of Constellation Brands in a research report on Tuesday, May 28th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Constellation Brands from $256.00 to $262.00 and gave the stock a “hold” rating in a research report on Wednesday, April 10th. Three research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Constellation Brands presently has a consensus rating of “Moderate Buy” and an average target price of $298.37.

Constellation Brands Trading Up 0.5 %

NYSE:STZ traded up $1.37 during midday trading on Friday, hitting $257.28. The stock had a trading volume of 1,518,776 shares, compared to its average volume of 1,102,593. Constellation Brands, Inc. has a one year low of $227.50 and a one year high of $274.87. The company has a market capitalization of $47.08 billion, a price-to-earnings ratio of 27.43, a PEG ratio of 1.70 and a beta of 1.75. The stock has a 50-day moving average of $255.34 and a 200 day moving average of $253.68. The company has a quick ratio of 0.53, a current ratio of 1.19 and a debt-to-equity ratio of 1.06.

Constellation Brands (NYSE:STZ) last posted 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 analyst estimates of $2.09 billion. Constellation Brands had a return on equity of 23.06% and a net margin of 16.13%. Constellation Brands’s revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.98 earnings per share. As a group, sell-side analysts forecast that Constellation Brands, Inc. will post 13.67 EPS for the current year.

Constellation Brands Increases Dividend

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

Insiders Place Their Bets

In other Constellation Brands news, CEO William A. Newlands sold 25,000 shares of the company’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $261.54, for a total transaction of $6,538,500.00. Following the completion of the sale, the chief executive officer now owns 14,700 shares in the company, valued at $3,844,638. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, EVP James A. Jr. Sabia sold 15,781 shares of the 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 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 document filed with the SEC, which is accessible through the SEC website. Also, CEO William A. Newlands sold 25,000 shares of the stock in a transaction on Friday, May 10th. The shares were sold at an average price of $261.54, for a total value of $6,538,500.00. Following the sale, the chief executive officer now owns 14,700 shares of the company’s stock, valued at approximately $3,844,638. The disclosure for this sale can be found here. Insiders sold a total of 48,031 shares of company stock worth $12,582,321 over the last 90 days. Company insiders own 12.19% of the company’s stock.

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.