Willingdon Wealth Management boosted its holdings in Constellation Brands, Inc. (NYSE:STZ) by 8.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 23,566 shares of the company’s stock after buying an additional 1,868 shares during the period. Constellation Brands accounts for approximately 1.0% of Willingdon Wealth Management’s holdings, making the stock its 27th largest holding. Willingdon Wealth Management’s holdings in Constellation Brands were worth $4,132,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of STZ. Versant Capital Management Inc boosted its stake in Constellation Brands by 210.9% in the 1st quarter. Versant Capital Management Inc now owns 143 shares of the company’s stock worth $25,000 after buying an additional 97 shares during the last quarter. Ledyard National Bank purchased a new position in shares of Constellation Brands in the 4th quarter worth about $31,000. We Are One Seven LLC purchased a new position in shares of Constellation Brands in the 4th quarter worth about $32,000. Quantamental Technologies LLC purchased a new position in shares of Constellation Brands in the 4th quarter worth about $32,000. Finally, Bay Harbor Wealth Management LLC purchased a new position in shares of Constellation Brands in the 1st quarter worth about $33,000. 73.87% of the stock is currently owned by hedge funds and other institutional investors.
In other Constellation Brands news, EVP David Eric Klein sold 25,980 shares of the firm’s stock in a transaction that occurred on Thursday, April 18th. The stock was sold at an average price of $198.66, for a total transaction of $5,161,186.80. Following the completion of the sale, the executive vice president now owns 69,852 shares in the company, valued at approximately $13,876,798.32. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Thomas Michael Kane sold 3,071 shares of the firm’s stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $190.08, for a total value of $583,735.68. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 76,646 shares of company stock worth $15,572,098. Company insiders own 15.80% of the company’s stock.
Constellation Brands (NYSE:STZ) last announced its earnings results on Thursday, April 4th. The company reported $1.84 EPS for the quarter, beating the consensus estimate of $1.72 by $0.12. The business had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.73 billion. Constellation Brands had a return on equity of 15.63% and a net margin of 38.67%. The company’s revenue was up 2.0% on a year-over-year basis. During the same period last year, the business posted $1.90 EPS. Analysts predict that Constellation Brands, Inc. will post 8.56 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Friday, May 10th will be issued a dividend of $0.75 per share. This is an increase from Constellation Brands’s previous quarterly dividend of $0.74. This represents a $3.00 annualized dividend and a dividend yield of 1.52%. The ex-dividend date of this dividend is Thursday, May 9th. Constellation Brands’s dividend payout ratio (DPR) is presently 10.02%.
STZ has been the topic of a number of research reports. Credit Suisse Group initiated coverage on Constellation Brands in a report on Wednesday, March 6th. They issued an “outperform” rating and a $230.00 price objective on the stock. Barclays set a $226.00 price objective on Constellation Brands and gave the stock a “buy” rating in a report on Friday, April 5th. Morgan Stanley set a $233.00 price objective on Constellation Brands and gave the stock a “buy” rating in a report on Thursday, February 14th. Jefferies Financial Group raised their price objective on Constellation Brands from $267.00 to $275.00 and gave the stock a “top pick” rating in a report on Monday, April 22nd. Finally, Bank of America restated a “buy” rating and issued a $216.00 price objective (up from $188.00) on shares of Constellation Brands in a report on Friday, April 5th. They noted that the move was a valuation call. Eleven investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $222.58.
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About Constellation Brands
Constellation Brands, Inc, together with its subsidiaries, produces, imports, and markets beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. It provides beer primarily under the Corona Extra, Corona Light, Corona Premier, Corona Familiar Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands, as well as Funky Buddha, Four Corners, and Ballast Point brands.
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