Wilmington Savings Fund Society FSB Boosts Stake in Constellation Brands, Inc. (NYSE:STZ)

Wilmington Savings Fund Society FSB lifted its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 260.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 20,495 shares of the company’s stock after purchasing an additional 14,813 shares during the quarter. Wilmington Savings Fund Society FSB’s holdings in Constellation Brands were worth $5,281,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. New Millennium Group LLC acquired a new position in Constellation Brands during the second quarter worth $25,000. Horizon Bancorp Inc. IN purchased a new stake in shares of Constellation Brands in the 2nd quarter valued at $32,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Constellation Brands in the 2nd quarter valued at $36,000. Wellington Shields & Co. LLC lifted its stake in Constellation Brands by 50.0% during the 2nd quarter. Wellington Shields & Co. LLC now owns 150 shares of the company’s stock worth $39,000 after acquiring an additional 50 shares in the last quarter. Finally, Eastern Bank purchased a new position in Constellation Brands during the 3rd quarter valued at about $39,000. 77.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on STZ shares. Roth Mkm reissued a “buy” rating and set a $298.00 price target on shares of Constellation Brands in a research report on Friday, October 4th. BNP Paribas began coverage on shares of Constellation Brands in a report on Monday, November 25th. They set a “neutral” rating and a $261.00 target price on the stock. JPMorgan Chase & Co. dropped their price target on shares of Constellation Brands from $307.00 to $293.00 and set an “overweight” rating for the company in a research note on Friday, October 4th. Wells Fargo & Company cut their price objective on Constellation Brands from $300.00 to $295.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 26th. Finally, Morgan Stanley decreased their target price on Constellation Brands from $305.00 to $280.00 and set an “overweight” rating for the company in a report on Monday, August 26th. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, Constellation Brands currently has a consensus rating of “Moderate Buy” and a consensus target price of $288.70.

Constellation Brands Stock Down 0.2 %

STZ stock opened at $239.44 on Friday. Constellation Brands, Inc. has a 12 month low of $224.76 and a 12 month high of $274.87. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.25 and a quick ratio of 0.53. The company has a market cap of $43.47 billion, a price-to-earnings ratio of 77.49, a price-to-earnings-growth ratio of 1.69 and a beta of 0.90. The company has a fifty day moving average price of $239.13 and a 200 day moving average price of $246.08.

Constellation Brands (NYSE:STZ) last announced its earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share for the quarter, topping the consensus estimate of $4.08 by $0.24. The business had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.95 billion. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. The business’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.70 earnings per share. Sell-side analysts expect that Constellation Brands, Inc. will post 13.57 earnings per share for the current year.

Constellation Brands Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th were paid a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 1.69%. The ex-dividend date was Tuesday, November 5th. Constellation Brands’s dividend payout ratio (DPR) is presently 130.74%.

Insider Transactions at Constellation Brands

In other news, EVP Samuel J. Glaetzer sold 1,510 shares of the company’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $245.57, for a total transaction of $370,810.70. Following the transaction, the executive vice president now directly owns 4,970 shares of the company’s stock, valued at $1,220,482.90. This represents a 23.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO William A. Newlands sold 7,426 shares of the stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $237.24, for a total transaction of $1,761,744.24. Following the completion of the transaction, the chief executive officer now owns 7,274 shares of the company’s stock, valued at $1,725,683.76. This represents a 50.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 189,956 shares of company stock worth $46,058,091 over the last ninety days. 12.19% of the stock is currently owned by company insiders.

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.