Logan Capital Management Inc. Has $379,000 Stock Position in Constellation Brands, Inc. (NYSE:STZ)

Logan Capital Management Inc. cut its stake in shares of Constellation Brands, Inc. (NYSE:STZFree Report) by 25.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,568 shares of the company’s stock after selling 529 shares during the period. Logan Capital Management Inc.’s holdings in Constellation Brands were worth $379,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sei Investments Co. boosted its stake in Constellation Brands by 6.0% during the 4th quarter. Sei Investments Co. now owns 169,479 shares of the company’s stock worth $40,971,000 after acquiring an additional 9,526 shares during the last quarter. Evercore Wealth Management LLC boosted its position in shares of Constellation Brands by 1.0% during the fourth quarter. Evercore Wealth Management LLC now owns 338,710 shares of the company’s stock worth $81,883,000 after purchasing an additional 3,241 shares in the last quarter. Quadrature Capital Ltd acquired a new position in shares of Constellation Brands in the 4th quarter valued at $958,000. Seven Eight Capital LP raised its stake in Constellation Brands by 1,086.0% during the 4th quarter. Seven Eight Capital LP now owns 32,175 shares of the company’s stock worth $7,778,000 after buying an additional 29,462 shares during the period. Finally, Waterloo Capital L.P. bought a new position in Constellation Brands during the fourth quarter worth about $679,000. Institutional investors own 77.34% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on STZ shares. Bank of America increased their price target on Constellation Brands from $290.00 to $300.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Constellation Brands from $256.00 to $262.00 and gave the stock a “hold” rating in a research report on Wednesday, April 10th. Roth Mkm reaffirmed a “buy” rating and set a $305.00 price objective on shares of Constellation Brands in a research report on Friday, April 12th. Wedbush reissued an “outperform” rating and issued a $300.00 target price on shares of Constellation Brands in a research report on Wednesday, April 10th. Finally, Barclays reduced their price target on Constellation Brands from $295.00 to $288.00 and set an “overweight” rating for the company in a research report on Wednesday, May 29th. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $298.20.

Read Our Latest Report on STZ

Insiders Place Their Bets

In related news, CEO William A. Newlands sold 25,000 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $261.54, for a total transaction of $6,538,500.00. Following the transaction, the chief executive officer now owns 14,700 shares in the company, valued at approximately $3,844,638. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Constellation Brands news, CEO William A. Newlands sold 4,013 shares of the stock in a transaction dated Friday, April 19th. The shares were sold at an average price of $263.25, for a total value of $1,056,422.25. Following the completion of the sale, the chief executive officer now owns 5,395 shares in the company, valued at approximately $1,420,233.75. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO William A. Newlands sold 25,000 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 14,700 shares in the company, valued at $3,844,638. The disclosure for this sale can be found here. In the last three months, insiders have sold 48,031 shares of company stock worth $12,582,321. Corporate insiders own 12.19% of the company’s stock.

Constellation Brands Price Performance

Shares of STZ stock opened at $251.68 on Tuesday. The company has a market cap of $46.05 billion, a P/E ratio of 26.83, a P/E/G ratio of 1.69 and a beta of 0.89. 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 business has a fifty day simple moving average of $256.41 and a 200 day simple moving average of $251.69. Constellation Brands, Inc. has a twelve month low of $227.50 and a twelve month high of $274.87.

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

Constellation Brands Increases Dividend

The firm also recently declared 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 of this dividend was Thursday, May 2nd. This is a positive change from Constellation Brands’s previous quarterly dividend of $0.89. This represents a $4.04 annualized dividend and a yield of 1.61%. Constellation Brands’s payout ratio is 43.07%.

Constellation Brands Profile

(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.

Further Reading

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

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