Constellation Brands, Inc. (NYSE:STZ) Shares Bought by FineMark National Bank & Trust

FineMark National Bank & Trust grew its position in Constellation Brands, Inc. (NYSE:STZ) by 51.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 39,414 shares of the company’s stock after acquiring an additional 13,311 shares during the quarter. FineMark National Bank & Trust’s holdings in Constellation Brands were worth $9,528,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Kestra Private Wealth Services LLC grew its stake in shares of Constellation Brands by 17.2% in the 3rd quarter. Kestra Private Wealth Services LLC now owns 17,218 shares of the company’s stock valued at $4,327,000 after buying an additional 2,526 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in Constellation Brands by 15.3% in 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 purchasing an additional 4,311 shares during the period. Perigon Wealth Management LLC lifted its stake in shares of Constellation Brands by 46.0% in the 4th quarter. Perigon Wealth Management LLC now owns 6,012 shares of the company’s stock valued at $1,453,000 after purchasing an additional 1,893 shares during the last quarter. CoreCap Advisors LLC grew its holdings in shares of Constellation Brands by 35.8% during the 4th quarter. CoreCap Advisors LLC now owns 2,002 shares of the company’s stock worth $484,000 after purchasing an additional 528 shares during the period. Finally, Ascent Wealth Partners LLC acquired a new position in Constellation Brands in the fourth quarter valued at about $962,000. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Constellation Brands Trading Down 1.7 %

Constellation Brands stock traded down $4.31 during trading on Thursday, reaching $244.63. The company had a trading volume of 749,584 shares, compared to its average volume of 1,182,545. The firm has a market capitalization of $44.76 billion, a price-to-earnings ratio of 26.17, a PEG ratio of 1.69 and a beta of 0.95. The stock’s 50 day moving average price is $261.60 and its two-hundred day moving average price is $250.74. Constellation Brands, Inc. has a 12-month low of $227.50 and a 12-month high of $274.87. 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 (NYSE:STZ) last released its quarterly earnings data on Thursday, April 11th. The company reported $2.26 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $2.09 billion. During the same period in the previous year, the company posted $1.98 EPS. The company’s revenue was up 7.1% compared to the same quarter last year. As a group, equities analysts expect that Constellation Brands, Inc. will post 13.53 earnings per share for the current fiscal year.

Constellation Brands Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 17th. Shareholders of record on Friday, May 3rd were paid a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date of this dividend was Thursday, May 2nd. This is a boost from Constellation Brands’s previous quarterly dividend of $0.89. Constellation Brands’s payout ratio is currently 43.07%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on STZ shares. UBS Group boosted their price objective on Constellation Brands from $312.00 to $320.00 and gave the company a “buy” rating in a report on Friday, April 12th. Bank of America lifted 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. Barclays upped their price target on Constellation Brands from $294.00 to $295.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Argus raised Constellation Brands from a “hold” rating to a “buy” rating and set a $306.00 price objective for the company in a research report on Monday, April 15th. Finally, BMO Capital Markets raised their target price on shares of Constellation Brands from $290.00 to $315.00 and gave the company an “outperform” rating in a report on Friday, April 12th. Three investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $298.55.

Insider Activity at Constellation Brands

In other Constellation Brands 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 value of $4,160,345.03. Following the completion of the transaction, the executive vice president now owns 20,910 shares in the company, valued at approximately $5,512,503.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, EVP James A. Jr. Sabia sold 15,781 shares of the business’s 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 owns 20,910 shares in the company, valued at $5,512,503.30. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO William A. Newlands sold 4,013 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief executive officer now owns 5,395 shares of the company’s stock, valued at approximately $1,420,233.75. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 48,031 shares of company stock worth $12,582,321. 16.19% of the stock is currently owned by company insiders.

Constellation Brands Profile

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.