Constellation Brands (STZ) Shares Bought by Spinnaker Trust

Spinnaker Trust boosted its holdings in Constellation Brands (NYSE:STZ) by 2.0% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 14,217 shares of the company’s stock after purchasing an additional 273 shares during the quarter. Spinnaker Trust’s holdings in Constellation Brands were worth $3,239,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. SVA Plumb Wealth Management LLC increased its holdings in shares of Constellation Brands by 3.0% during the first quarter. SVA Plumb Wealth Management LLC now owns 49,979 shares of the company’s stock valued at $9,968,000 after acquiring an additional 1,472 shares in the last quarter. Peapack Gladstone Financial Corp increased its holdings in shares of Constellation Brands by 76.6% during the first quarter. Peapack Gladstone Financial Corp now owns 12,272 shares of the company’s stock valued at $2,797,000 after acquiring an additional 5,323 shares in the last quarter. Toronto Dominion Bank increased its holdings in shares of Constellation Brands by 24.6% during the first quarter. Toronto Dominion Bank now owns 92,444 shares of the company’s stock valued at $21,066,000 after acquiring an additional 18,256 shares in the last quarter. Fayez Sarofim & Co increased its holdings in shares of Constellation Brands by 14.4% during the first quarter. Fayez Sarofim & Co now owns 401,235 shares of the company’s stock valued at $91,449,000 after acquiring an additional 50,381 shares in the last quarter. Finally, Abbrea Capital LLC bought a new stake in shares of Constellation Brands during the first quarter valued at approximately $237,000. Institutional investors and hedge funds own 72.49% of the company’s stock.

Constellation Brands opened at $216.58 on Thursday, Marketbeat.com reports. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.71 and a current ratio of 1.79. Constellation Brands has a 1-year low of $176.21 and a 1-year high of $236.62. The firm has a market capitalization of $41.32 billion, a price-to-earnings ratio of 24.84, a price-to-earnings-growth ratio of 1.21 and a beta of 0.09.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings data on Thursday, March 29th. The company reported $1.90 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.74 by $0.16. Constellation Brands had a return on equity of 22.28% and a net margin of 27.85%. The business had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.76 billion. During the same quarter in the previous year, the firm earned $1.48 earnings per share. The business’s revenue was up 8.5% on a year-over-year basis. research analysts predict that Constellation Brands will post 9.68 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 24th. Shareholders of record on Thursday, May 10th will be given a $0.74 dividend. The ex-dividend date is Wednesday, May 9th. This represents a $2.96 annualized dividend and a yield of 1.37%. This is a boost from Constellation Brands’s previous quarterly dividend of $0.52. Constellation Brands’s payout ratio is currently 33.94%.

In other Constellation Brands news, EVP David Eric Klein sold 17,900 shares of the business’s stock in a transaction on Monday, April 2nd. The stock was sold at an average price of $228.43, for a total value of $4,088,897.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director James A. Locke III sold 6,398 shares of the business’s stock in a transaction on Tuesday, April 17th. The stock was sold at an average price of $230.50, for a total value of $1,474,739.00. Following the completion of the transaction, the director now directly owns 44,954 shares in the company, valued at approximately $10,361,897. The disclosure for this sale can be found here. In the last three months, insiders sold 35,269 shares of company stock worth $8,048,757. Insiders own 15.59% of the company’s stock.

STZ has been the subject of several recent research reports. BMO Capital Markets initiated coverage on Constellation Brands in a report on Monday, February 5th. They set an “outperform” rating and a $275.00 price objective for the company. Vetr upgraded Constellation Brands from a “buy” rating to a “strong-buy” rating and set a $238.15 price objective for the company in a report on Monday, February 5th. Zacks Investment Research downgraded Constellation Brands from a “buy” rating to a “hold” rating in a report on Wednesday, February 21st. Societe Generale upgraded Constellation Brands from a “hold” rating to a “buy” rating in a report on Tuesday, March 20th. Finally, Deutsche Bank boosted their price objective on Constellation Brands from $253.00 to $256.00 and gave the company a “buy” rating in a report on Friday, March 23rd. Eight research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Constellation Brands presently has a consensus rating of “Buy” and a consensus price target of $245.77.

Constellation Brands Company Profile

Constellation Brands, Inc, together with its subsidiaries, produces, imports, and markets beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. The company sells wine across various categories, including table wine, sparkling wine, and dessert wine. It offers beer primarily under the Corona Extra, Corona Light, Modelo Especial, Modelo Negra, and Pacifico brands; wine under the Black Box, Clos du Bois, Estancia, Franciscan Estate, Inniskillin, Kim Crawford, Mark West, Meiomi, Mount Veeder, Nobilo, Robert Mondavi, Ruffino, Saved, Simi, The Dreaming Tree, The Prisoner, Charles Smith, and Wild Horse brands; and sprits under the SVEDKA vodka, Black Velvet Canadian whisky, Casa Noble tequila, High West craft whisky brands.

Institutional Ownership by Quarter for Constellation Brands (NYSE:STZ)

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