Glenview Trust Co Reduces Stock Holdings in Constellation Brands Inc $STZ

Glenview Trust Co decreased its position in Constellation Brands Inc (NYSE:STZ) by 39.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 33,565 shares of the company’s stock after selling 22,056 shares during the period. Glenview Trust Co’s holdings in Constellation Brands were worth $4,631,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Oppenheimer Asset Management Inc. lifted its stake in Constellation Brands by 329.8% in the third quarter. Oppenheimer Asset Management Inc. now owns 73,323 shares of the company’s stock valued at $9,874,000 after purchasing an additional 56,263 shares during the last quarter. Nordea Investment Management AB lifted its stake in Constellation Brands by 6.1% in the fourth quarter. Nordea Investment Management AB now owns 867,776 shares of the company’s stock valued at $120,300,000 after purchasing an additional 49,625 shares during the last quarter. Cambiar Investors LLC lifted its stake in Constellation Brands by 27.5% in the third quarter. Cambiar Investors LLC now owns 227,218 shares of the company’s stock valued at $30,599,000 after purchasing an additional 48,954 shares during the last quarter. LSV Asset Management purchased a new position in Constellation Brands in the third quarter valued at approximately $33,018,000. Finally, Diamond Hill Capital Management Inc. lifted its stake in Constellation Brands by 97.3% in the third quarter. Diamond Hill Capital Management Inc. now owns 242,171 shares of the company’s stock valued at $32,613,000 after purchasing an additional 119,400 shares during the last quarter. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Weiss Ratings reiterated a “hold (c-)” rating on shares of Constellation Brands in a research note on Monday, May 4th. Deutsche Bank Aktiengesellschaft upped their price objective on Constellation Brands from $154.00 to $155.00 and gave the company a “hold” rating in a research note on Friday, April 10th. Piper Sandler boosted their target price on shares of Constellation Brands from $146.00 to $160.00 and gave the company a “neutral” rating in a report on Friday, April 10th. Citigroup reissued a “buy” rating on shares of Constellation Brands in a report on Monday, May 18th. Finally, UBS Group boosted their target price on shares of Constellation Brands from $176.00 to $186.00 and gave the company a “buy” rating in a report on Friday, April 10th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $175.37.

Insider Buying and Selling at Constellation Brands

In other news, EVP James O. Bourdeau sold 4,407 shares of the company’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $143.24, for a total value of $631,258.68. Following the transaction, the executive vice president owned 9,109 shares of the company’s stock, valued at approximately $1,304,773.16. This represents a 32.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 12.45% of the company’s stock.

Constellation Brands Trading Down 0.0%

Shares of STZ stock opened at $149.50 on Tuesday. The company’s fifty day simple moving average is $152.75 and its two-hundred day simple moving average is $148.88. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.08 and a quick ratio of 0.55. Constellation Brands Inc has a 1 year low of $126.45 and a 1 year high of $186.40. The stock has a market capitalization of $25.74 billion, a price-to-earnings ratio of 15.59, a PEG ratio of 3.28 and a beta of 0.43.

Constellation Brands (NYSE:STZ) last issued its earnings results on Wednesday, April 8th. The company reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.71 by $0.19. Constellation Brands had a net margin of 17.29% and a return on equity of 26.18%. The business had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $1.84 billion. During the same quarter in the previous year, the firm posted $2.63 EPS. The business’s revenue for the quarter was down 11.3% compared to the same quarter last year. As a group, analysts anticipate that Constellation Brands Inc will post 11.9 earnings per share for the current year.

Constellation Brands Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Wednesday, April 29th were issued a $1.03 dividend. The ex-dividend date of this dividend was Wednesday, April 29th. This is an increase from Constellation Brands’s previous quarterly dividend of $1.02. This represents a $4.12 annualized dividend and a dividend yield of 2.8%. Constellation Brands’s payout ratio is currently 42.96%.

Constellation Brands Company Profile

Constellation Brands, Inc is a leading producer and marketer of beer, wine and spirits, with operations spanning production, importation, marketing and distribution. The company’s beverage portfolio includes a range of premium and mainstream wines and spirits alongside major imported beer brands; in the U.S. market Constellation is widely known for its role in bringing Mexican imports such as Corona and Modelo to American consumers. Constellation supplies retail, on‑premise and foodservice channels and supports its brands with national sales and marketing platforms and supply‑chain capabilities.

The company traces its roots to the Canandaigua Wine Company, founded by Marvin Sands in 1945, and evolved through organic growth and acquisition into a diversified beverage company.