Griffin Asset Management Inc. Trims Holdings in Constellation Brands, Inc. (NYSE:STZ)

Griffin Asset Management Inc. decreased its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 2.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,216 shares of the company’s stock after selling 265 shares during the period. Griffin Asset Management Inc.’s holdings in Constellation Brands were worth $2,505,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in STZ. Burns Matteson Capital Management LLC lifted its holdings in Constellation Brands by 1.7% in the 4th quarter. Burns Matteson Capital Management LLC now owns 2,499 shares of the company’s stock worth $604,000 after purchasing an additional 42 shares in the last quarter. 1620 Investment Advisors Inc. boosted its stake in Constellation Brands by 1.8% during the fourth quarter. 1620 Investment Advisors Inc. now owns 2,352 shares of the company’s stock valued at $569,000 after buying an additional 42 shares during the last quarter. FAS Wealth Partners Inc. grew its holdings in Constellation Brands by 3.5% during the 4th quarter. FAS Wealth Partners Inc. now owns 1,277 shares of the company’s stock valued at $309,000 after buying an additional 43 shares in the last quarter. Smithfield Trust Co increased its stake in Constellation Brands by 5.3% in the 4th quarter. Smithfield Trust Co now owns 854 shares of the company’s stock worth $207,000 after acquiring an additional 43 shares during the last quarter. Finally, Copperwynd Financial LLC raised its holdings in shares of Constellation Brands by 1.6% during the 4th quarter. Copperwynd Financial LLC now owns 2,779 shares of the company’s stock worth $672,000 after acquiring an additional 43 shares in the last quarter. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on STZ. HSBC raised their price objective on Constellation Brands from $290.00 to $300.00 and gave the company a “buy” rating in a research note on Friday, April 12th. Evercore ISI lifted their price objective on shares of Constellation Brands from $300.00 to $310.00 and gave the stock an “outperform” rating in a research note on Friday, April 12th. UBS Group reduced their target price on shares of Constellation Brands from $320.00 to $315.00 and set a “buy” rating on the stock in a research note on Thursday, June 20th. JPMorgan Chase & Co. dropped their price target on shares of Constellation Brands from $296.00 to $291.00 and set an “overweight” rating for the company in a research note on Thursday, June 20th. Finally, BMO Capital Markets upped their price target 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 equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $298.37.

Insider Buying and Selling at Constellation Brands

In other Constellation Brands news, CEO William A. Newlands sold 4,013 shares of Constellation Brands stock in a transaction 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 transaction, the chief executive officer now directly owns 5,395 shares of the company’s stock, valued at $1,420,233.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Constellation Brands news, EVP James A. Jr. Sabia sold 15,781 shares of Constellation Brands stock in a transaction that occurred on Friday, April 12th. The shares were 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 directly owns 20,910 shares in the company, valued at approximately $5,512,503.30. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William A. Newlands sold 4,013 shares of the firm’s stock in a transaction on Friday, April 19th. The stock was sold at an average price of $263.25, for a total transaction of $1,056,422.25. Following the transaction, the chief executive officer now directly 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. Over the last ninety days, insiders sold 48,031 shares of company stock valued at $12,582,321. 12.19% of the stock is currently owned by insiders.

Constellation Brands Stock Up 0.5 %

NYSE STZ traded up $1.37 during trading on Friday, reaching $257.28. 1,518,776 shares of the company’s stock traded hands, compared to its average volume of 1,102,593. The company’s 50 day simple moving average is $255.34 and its two-hundred day simple moving average is $253.55. Constellation Brands, Inc. has a 12-month low of $227.50 and a 12-month high of $274.87. The firm has a market cap of $47.08 billion, a price-to-earnings ratio of 27.43, a price-to-earnings-growth ratio of 1.70 and a beta of 1.75. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.19 and a quick ratio of 0.53.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings data on Thursday, April 11th. The company reported $2.26 EPS for the quarter, topping analysts’ consensus estimates of $2.10 by $0.16. The company had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.09 billion. Constellation Brands had a net margin of 16.13% and a return on equity of 23.06%. Constellation Brands’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.98 earnings per share. As a group, sell-side analysts forecast that Constellation Brands, Inc. will post 13.67 EPS for the current fiscal year.

Constellation Brands Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 17th. Shareholders of record on Friday, May 3rd were issued a $1.01 dividend. The ex-dividend date was Thursday, May 2nd. This is an increase from Constellation Brands’s previous quarterly dividend of $0.89. This represents a $4.04 dividend on an annualized basis and a yield of 1.57%. Constellation Brands’s payout ratio is currently 43.07%.

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 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.