CNB Bank Increases Position in Constellation Brands, Inc. (NYSE:STZ)

CNB Bank raised its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 15.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,636 shares of the company’s stock after purchasing an additional 346 shares during the period. CNB Bank’s holdings in Constellation Brands were worth $637,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Prudential PLC bought a new position in Constellation Brands during the 1st quarter valued at approximately $705,000. Cetera Investment Advisers increased its holdings in shares of Constellation Brands by 1.0% during the first quarter. Cetera Investment Advisers now owns 17,026 shares of the company’s stock valued at $3,921,000 after acquiring an additional 163 shares in the last quarter. Sequoia Financial Advisors LLC raised its position in shares of Constellation Brands by 17.6% in the 1st quarter. Sequoia Financial Advisors LLC now owns 3,149 shares of the company’s stock worth $725,000 after purchasing an additional 471 shares during the last quarter. Vanguard Group Inc. boosted its stake in Constellation Brands by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 12,601,280 shares of the company’s stock worth $2,902,327,000 after purchasing an additional 313,344 shares in the last quarter. Finally, Ergoteles LLC purchased a new stake in Constellation Brands during the 1st quarter valued at about $257,000. 77.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Constellation Brands

In other news, EVP James A. Jr. Sabia sold 15,781 shares of the company’s 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 sale, the executive vice president now directly owns 20,910 shares of the company’s stock, valued at approximately $5,512,503.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 16.19% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. UBS Group lifted their target price on shares of Constellation Brands from $312.00 to $320.00 and gave the stock a “buy” rating in a report on Friday, April 12th. TheStreet cut Constellation Brands from a “b” rating to a “c+” rating in a research report on Friday, January 5th. Barclays lifted their target price on Constellation Brands from $294.00 to $295.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. HSBC upped 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. Finally, BMO Capital Markets lifted their price objective on Constellation Brands from $290.00 to $315.00 and gave the stock an “outperform” rating in a report on Friday, April 12th. Three equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $298.55.

Constellation Brands Stock Performance

Shares of STZ opened at $260.70 on Friday. The business has a 50-day simple moving average of $258.19 and a two-hundred day simple moving average of $247.28. 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, Inc. has a 52 week low of $221.81 and a 52 week high of $274.87. The stock has a market cap of $47.66 billion, a price-to-earnings ratio of 27.79, a PEG ratio of 1.76 and a beta of 0.97.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings results on Thursday, April 11th. The company reported $2.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.10 by $0.16. Constellation Brands had a return on equity of 23.06% and a net margin of 16.13%. The business had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.09 billion. During the same quarter in the prior year, the business posted $1.98 EPS. Constellation Brands’s revenue for the quarter was up 7.1% compared to the same quarter last year. On average, analysts expect that Constellation Brands, Inc. will post 13.51 EPS for the current year.

Constellation Brands Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Friday, May 3rd will be paid a dividend of $1.01 per share. The ex-dividend date is Thursday, May 2nd. This is a positive change from Constellation Brands’s previous quarterly dividend of $0.89. This represents a $4.04 dividend on an annualized basis and a yield of 1.55%. Constellation Brands’s dividend payout ratio is presently 37.95%.

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 Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Victoria, Vicky Chamoy, and Pacifico brands.