Park Place Capital Corp Reduces Position in Constellation Brands, Inc. (NYSE:STZ)

Park Place Capital Corp decreased its holdings in Constellation Brands, Inc. (NYSE:STZ) by 20.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 529 shares of the company’s stock after selling 139 shares during the quarter. Park Place Capital Corp’s holdings in Constellation Brands were worth $144,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Aviance Capital Partners LLC lifted its stake in Constellation Brands by 0.7% in the first quarter. Aviance Capital Partners LLC now owns 16,343 shares of the company’s stock worth $4,441,000 after acquiring an additional 116 shares during the period. Mirador Capital Partners LP lifted its stake in Constellation Brands by 17.8% in the first quarter. Mirador Capital Partners LP now owns 4,532 shares of the company’s stock worth $1,232,000 after acquiring an additional 685 shares during the period. Oak Asset Management LLC lifted its stake in Constellation Brands by 1.5% in the first quarter. Oak Asset Management LLC now owns 16,842 shares of the company’s stock worth $4,577,000 after acquiring an additional 255 shares during the period. SteelPeak Wealth LLC lifted its stake in Constellation Brands by 1.4% in the first quarter. SteelPeak Wealth LLC now owns 4,501 shares of the company’s stock worth $1,223,000 after acquiring an additional 61 shares during the period. Finally, Blue Zone Wealth Advisors LLC lifted its stake in Constellation Brands by 0.8% in the first quarter. Blue Zone Wealth Advisors LLC now owns 19,736 shares of the company’s stock worth $5,363,000 after acquiring an additional 154 shares during the period. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Insider Buying and Selling at Constellation Brands

In other Constellation Brands news, CEO William A. Newlands sold 4,013 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 5,395 shares in the company, valued at approximately $1,420,233.75. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Constellation Brands news, CEO William A. Newlands sold 4,013 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 5,395 shares in the company, valued at approximately $1,420,233.75. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO William A. Newlands sold 25,000 shares of the business’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $261.54, for a total value of $6,538,500.00. Following the sale, the chief executive officer now owns 14,700 shares of the company’s stock, valued at $3,844,638. The disclosure for this sale can be found here. Insiders sold a total of 48,031 shares of company stock worth $12,582,321 in the last three months. 12.19% of the stock is currently owned by company insiders.

Constellation Brands Stock Performance

NYSE STZ traded down $0.99 during trading hours on Monday, hitting $256.29. The company’s stock had a trading volume of 863,582 shares, compared to its average volume of 1,187,990. Constellation Brands, Inc. has a 12 month low of $227.50 and a 12 month high of $274.87. The company’s 50 day simple moving average is $255.34 and its two-hundred day simple moving average is $253.76. The company has a market cap of $46.90 billion, a P/E ratio of 27.31, a price-to-earnings-growth ratio of 1.71 and a beta of 0.87. 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 released its quarterly earnings data on Thursday, April 11th. The company reported $2.26 EPS for the quarter, topping 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 company had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.09 billion. During the same period last year, the company earned $1.98 EPS. Constellation Brands’s revenue for the quarter was up 7.1% on a year-over-year basis. As a group, sell-side analysts expect that Constellation Brands, Inc. will post 13.67 EPS for the current fiscal year.

Constellation Brands Increases Dividend

The company also recently declared 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 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 dividend yield of 1.58%. The ex-dividend date was Thursday, May 2nd. Constellation Brands’s payout ratio is currently 43.07%.

Analyst Upgrades and Downgrades

STZ has been the subject of several recent research reports. Bank of America raised their price objective on Constellation Brands from $290.00 to $300.00 and gave the company a “buy” rating in a research report on Monday, March 18th. HSBC raised their price objective on Constellation Brands from $290.00 to $300.00 and gave the company a “buy” rating in a research report on Friday, April 12th. JPMorgan Chase & Co. lowered their price objective on Constellation Brands from $296.00 to $291.00 and set an “overweight” rating for the company in a research report on Thursday, June 20th. Barclays lowered their price objective 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. Finally, Wedbush reissued an “outperform” rating and set a $300.00 price objective on shares of Constellation Brands in a research report on Wednesday, April 10th. Three research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $298.37.

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.