Raymond James Trust N.A. Cuts Stake in Constellation Brands, Inc. (NYSE:STZ)

Raymond James Trust N.A. reduced its stake in Constellation Brands, Inc. (NYSE:STZFree Report) by 2.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,365 shares of the company’s stock after selling 102 shares during the period. Raymond James Trust N.A.’s holdings in Constellation Brands were worth $814,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Kestra Private Wealth Services LLC grew its stake in shares of Constellation Brands by 17.2% in the third quarter. Kestra Private Wealth Services LLC now owns 17,218 shares of the company’s stock worth $4,327,000 after acquiring an additional 2,526 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Constellation Brands by 15.3% during the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 32,433 shares of the company’s stock valued at $8,151,000 after buying an additional 4,311 shares during the last quarter. Teza Capital Management LLC purchased a new stake in shares of Constellation Brands during the third quarter valued at $7,768,000. River Wealth Advisors LLC boosted its position in shares of Constellation Brands by 1.8% during the third quarter. River Wealth Advisors LLC now owns 17,954 shares of the company’s stock valued at $4,512,000 after buying an additional 322 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Constellation Brands by 9.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,015,105 shares of the company’s stock valued at $255,126,000 after buying an additional 85,330 shares during the last quarter. 88.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on STZ shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $295.00 price objective on shares of Constellation Brands in a research report on Thursday, March 7th. TheStreet downgraded Constellation Brands from a “b” rating to a “c+” rating in a report on Friday, January 5th. Argus downgraded Constellation Brands from a “buy” rating to a “hold” rating in a report on Wednesday, January 10th. Bank of America increased their target price on Constellation Brands from $290.00 to $300.00 and gave the company a “buy” rating in a report on Monday, March 18th. Finally, JPMorgan Chase & Co. lowered their target price on Constellation Brands from $309.00 to $301.00 and set an “overweight” rating on the stock in a report on Thursday, December 21st. Four equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $290.37.

Read Our Latest Report on Constellation Brands

Constellation Brands Stock Down 0.4 %

Shares of STZ opened at $268.26 on Friday. The business’s 50 day moving average is $251.90 and its 200 day moving average is $246.14. The company has a market capitalization of $49.04 billion, a PE ratio of 31.75, a price-to-earnings-growth ratio of 1.87 and a beta of 0.96. Constellation Brands, Inc. has a 12-month low of $213.67 and a 12-month high of $273.65. The company has a current ratio of 1.05, a quick ratio of 0.46 and a debt-to-equity ratio of 1.05.

Constellation Brands (NYSE:STZGet Free Report) last issued its earnings results on Friday, January 5th. The company reported $3.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.03 by $0.16. The company had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.54 billion. Constellation Brands had a return on equity of 23.35% and a net margin of 14.76%. The firm’s quarterly revenue was up 1.4% on a year-over-year basis. During the same quarter last year, the company earned $2.83 EPS. Research analysts expect that Constellation Brands, Inc. will post 11.92 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, February 22nd. Shareholders of record on Thursday, February 8th were issued a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 1.33%. The ex-dividend date was Wednesday, February 7th. Constellation Brands’s dividend payout ratio is presently 42.13%.

Insider Buying and Selling at Constellation Brands

In other Constellation Brands news, major shareholder Family Foundation Sands sold 354,616 shares of the firm’s stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $250.26, for a total transaction of $88,746,200.16. Following the completion of the transaction, the insider now owns 54,461 shares in the company, valued at approximately $13,629,409.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 16.19% of the stock is currently owned by company insiders.

About Constellation Brands

(Free Report)

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.

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

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