Bangor Savings Bank Sells 489 Shares of Constellation Brands, Inc. (NYSE:STZ)

Bangor Savings Bank lowered its position in Constellation Brands, Inc. (NYSE:STZ) by 5.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,020 shares of the company’s stock after selling 489 shares during the period. Bangor Savings Bank’s holdings in Constellation Brands were worth $1,472,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in shares of Constellation Brands by 13.3% during the 4th quarter. Vanguard Group Inc. now owns 15,534,787 shares of the company’s stock worth $3,433,188,000 after purchasing an additional 1,821,969 shares during the last quarter. Capital World Investors boosted its holdings in Constellation Brands by 3.4% in the fourth quarter. Capital World Investors now owns 9,755,602 shares of the company’s stock worth $2,155,946,000 after purchasing an additional 324,690 shares in the last quarter. Berkshire Hathaway Inc bought a new stake in Constellation Brands in the fourth quarter worth $1,242,976,000. Geode Capital Management LLC increased its position in Constellation Brands by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 3,204,003 shares of the company’s stock worth $705,844,000 after buying an additional 63,323 shares during the last quarter. Finally, Capital Research Global Investors increased its position in Constellation Brands by 0.6% during the fourth quarter. Capital Research Global Investors now owns 2,901,975 shares of the company’s stock worth $641,336,000 after buying an additional 18,557 shares during the last quarter. Institutional investors own 77.34% of the company’s stock.

Constellation Brands Stock Performance

NYSE:STZ opened at $171.88 on Friday. The firm’s 50-day moving average is $183.90 and its 200-day moving average is $193.39. The company has a market cap of $30.60 billion, a price-to-earnings ratio of 46.20, a PEG ratio of 1.52 and a beta of 1.75. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.46 and a current ratio of 1.10. Constellation Brands, Inc. has a 52-week low of $160.46 and a 52-week high of $265.70.

Constellation Brands (NYSE:STZ) last released its earnings results on Wednesday, April 9th. The company reported $2.63 earnings per share for the quarter, topping analysts’ consensus estimates of $2.28 by $0.35. The business had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.14 billion. Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The firm’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period last year, the business earned $2.26 earnings per share. Equities research analysts anticipate that Constellation Brands, Inc. will post 13.5 earnings per share for the current year.

Constellation Brands Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Tuesday, April 29th were paid a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.37%. This is a positive change from Constellation Brands’s previous quarterly dividend of $1.01. The ex-dividend date of this dividend was Tuesday, April 29th. Constellation Brands’s dividend payout ratio is presently -800.00%.

Insider Activity at Constellation Brands

In other Constellation Brands news, EVP Samuel J. Glaetzer sold 3,150 shares of the business’s stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $188.54, for a total value of $593,901.00. Following the sale, the executive vice president now owns 3,126 shares of the company’s stock, valued at $589,376.04. The trade was a 50.19% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 12.19% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

STZ has been the subject of a number of analyst reports. BMO Capital Markets reduced their price target on Constellation Brands from $260.00 to $215.00 and set an “outperform” rating for the company in a research report on Friday, April 11th. Morgan Stanley cut their price objective on Constellation Brands from $202.00 to $195.00 and set an “equal weight” rating on the stock in a research note on Friday, April 11th. Citigroup decreased their target price on Constellation Brands from $200.00 to $190.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. Roth Mkm lowered their price target on Constellation Brands from $284.00 to $256.00 and set a “buy” rating on the stock in a report on Thursday, April 3rd. Finally, Wells Fargo & Company reduced their price objective on shares of Constellation Brands from $230.00 to $210.00 and set an “overweight” rating for the company in a research note on Wednesday, April 2nd. Ten investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $225.74.

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.