The Manufacturers Life Insurance Company Cuts Position in Constellation Brands, Inc. (NYSE:STZ)

The Manufacturers Life Insurance Company lessened its stake in Constellation Brands, Inc. (NYSE:STZFree Report) by 5.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 119,444 shares of the company’s stock after selling 6,686 shares during the quarter. The Manufacturers Life Insurance Company owned 0.07% of Constellation Brands worth $28,876,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Burns Matteson Capital Management LLC increased its holdings in shares of Constellation Brands by 1.7% in the 4th quarter. Burns Matteson Capital Management LLC now owns 2,499 shares of the company’s stock valued at $604,000 after purchasing an additional 42 shares in the last quarter. 1620 Investment Advisors Inc. increased its holdings in shares of Constellation Brands by 1.8% in the 4th quarter. 1620 Investment Advisors Inc. now owns 2,352 shares of the company’s stock valued at $569,000 after purchasing an additional 42 shares in the last quarter. FAS Wealth Partners Inc. increased its holdings in shares of Constellation Brands by 3.5% in the 4th quarter. FAS Wealth Partners Inc. now owns 1,277 shares of the company’s stock valued at $309,000 after purchasing an additional 43 shares in the last quarter. Smithfield Trust Co increased its holdings in Constellation Brands by 5.3% during the 4th quarter. Smithfield Trust Co now owns 854 shares of the company’s stock valued at $207,000 after acquiring an additional 43 shares in the last quarter. Finally, Schear Investment Advisers LLC increased its holdings in Constellation Brands by 1.8% during the 4th quarter. Schear Investment Advisers LLC now owns 2,522 shares of the company’s stock valued at $610,000 after acquiring an additional 44 shares in the last quarter. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Constellation Brands Trading Up 0.3 %

Constellation Brands stock opened at $250.93 on Friday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.53 and a current ratio of 1.19. Constellation Brands, Inc. has a 1 year low of $227.50 and a 1 year high of $274.87. The firm’s 50-day moving average is $256.69 and its 200-day moving average is $251.39. The company has a market cap of $45.92 billion, a P/E ratio of 26.75, a PEG ratio of 1.69 and a beta of 0.89.

Constellation Brands (NYSE:STZGet Free Report) last posted its quarterly earnings data on Thursday, April 11th. The company reported $2.26 EPS for the quarter, beating analysts’ consensus estimates of $2.10 by $0.16. Constellation Brands had a net margin of 16.13% and a return on equity of 23.06%. The company had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.09 billion. During the same period in the prior year, the firm earned $1.98 earnings per share. The business’s quarterly revenue was up 7.1% on a year-over-year basis. On average, equities analysts expect that Constellation Brands, Inc. will post 13.54 earnings per share for the current year.

Constellation Brands Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 17th. Shareholders of record on Friday, May 3rd were paid a $1.01 dividend. The ex-dividend date was Thursday, May 2nd. This is a boost from Constellation Brands’s previous quarterly dividend of $0.89. This represents a $4.04 dividend on an annualized basis and a yield of 1.61%. Constellation Brands’s payout ratio is 43.07%.

Insider Buying and Selling at Constellation Brands

In other news, EVP James A. Jr. Sabia sold 15,781 shares of Constellation Brands 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 transaction, the executive vice president now directly 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. In related news, EVP James A. Jr. Sabia sold 15,781 shares of the stock in a transaction that occurred 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 filing with the SEC, which is available through the SEC website. Also, CEO William A. Newlands sold 4,013 shares of Constellation Brands stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 5,395 shares in the company, valued at $1,420,233.75. The disclosure for this sale can be found here. Insiders have sold a total of 48,031 shares of company stock worth $12,582,321 over the last three months. Corporate insiders own 16.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on STZ shares. HSBC boosted their price objective on shares of Constellation Brands from $290.00 to $300.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. BMO Capital Markets increased their price objective on shares of Constellation Brands from $290.00 to $315.00 and gave the company an “outperform” rating in a research report on Friday, April 12th. Argus raised shares of Constellation Brands from a “hold” rating to a “buy” rating and set a $306.00 target price on the stock in a research report on Monday, April 15th. UBS Group upped their target price on shares of Constellation Brands from $312.00 to $320.00 and gave the company a “buy” rating in a research note on Friday, April 12th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $308.00 price target on shares of Constellation Brands in a research note on Tuesday, May 28th. Three equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $298.20.

Get Our Latest Analysis on STZ

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 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.

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

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