Northwestern Mutual Wealth Management Co. Sells 5,875 Shares of Constellation Brands Inc $STZ

Northwestern Mutual Wealth Management Co. lessened its stake in shares of Constellation Brands Inc (NYSE:STZ) by 31.8% during the 4th quarter, Holdings Channel reports. The fund owned 12,619 shares of the company’s stock after selling 5,875 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Constellation Brands were worth $1,741,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of STZ. Brighton Jones LLC boosted its position in Constellation Brands by 23.0% during the 4th quarter. Brighton Jones LLC now owns 1,001 shares of the company’s stock valued at $221,000 after acquiring an additional 187 shares in the last quarter. Woodline Partners LP bought a new stake in Constellation Brands during the 1st quarter valued at $2,409,000. Cary Street Partners Financial LLC boosted its position in Constellation Brands by 69.9% during the 2nd quarter. Cary Street Partners Financial LLC now owns 1,026 shares of the company’s stock valued at $167,000 after acquiring an additional 422 shares in the last quarter. Bank of Nova Scotia boosted its position in Constellation Brands by 3.6% during the 2nd quarter. Bank of Nova Scotia now owns 17,347 shares of the company’s stock valued at $2,822,000 after acquiring an additional 599 shares in the last quarter. Finally, Daiwa Securities Group Inc. lifted its holdings in shares of Constellation Brands by 5.0% during the 2nd quarter. Daiwa Securities Group Inc. now owns 23,732 shares of the company’s stock valued at $3,861,000 after purchasing an additional 1,127 shares during the last quarter. Institutional investors own 77.34% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on STZ shares. Citigroup reiterated a “buy” rating on shares of Constellation Brands in a report on Monday, May 18th. Deutsche Bank Aktiengesellschaft increased their price objective on Constellation Brands from $154.00 to $155.00 and gave the company a “hold” rating in a report on Friday, April 10th. Royal Bank Of Canada reiterated an “outperform” rating and set a $185.00 price objective on shares of Constellation Brands in a report on Friday, April 10th. TD Cowen upgraded Constellation Brands from a “hold” rating to a “buy” rating and increased their price objective for the company from $142.00 to $190.00 in a report on Monday, April 13th. Finally, Barclays increased their price objective on Constellation Brands from $151.00 to $170.00 and gave the company an “equal weight” rating in a report on Friday, April 10th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $175.26.

Constellation Brands Stock Performance

Shares of STZ opened at $141.11 on Friday. Constellation Brands Inc has a 12 month low of $126.45 and a 12 month high of $178.13. The stock has a fifty day moving average price of $150.69 and a 200-day moving average price of $149.41. The company has a current ratio of 1.08, a quick ratio of 0.55 and a debt-to-equity ratio of 1.16. The firm has a market cap of $24.30 billion, a PE ratio of 14.71, a P/E/G ratio of 3.26 and a beta of 0.39.

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, topping analysts’ consensus estimates of $1.71 by $0.19. The company had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.84 billion. Constellation Brands had a return on equity of 26.18% and a net margin of 17.29%.The firm’s quarterly revenue was down 11.3% on a year-over-year basis. During the same quarter last year, the business posted $2.63 EPS. Equities research analysts predict that Constellation Brands Inc will post 11.87 earnings per share for the current fiscal year.

Constellation Brands Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Wednesday, April 29th were paid a $1.03 dividend. This is a positive change from Constellation Brands’s previous quarterly dividend of $1.02. The ex-dividend date was Wednesday, April 29th. This represents a $4.12 dividend on an annualized basis and a yield of 2.9%. Constellation Brands’s dividend payout ratio (DPR) is 42.96%.

Insider Transactions at Constellation Brands

In related news, EVP James O. Bourdeau sold 4,407 shares of the firm’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $143.24, for a total value of $631,258.68. Following the completion of the transaction, the executive vice president owned 9,109 shares in the company, valued at $1,304,773.16. This trade represents a 32.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 12.45% of the stock is owned by company insiders.

About Constellation Brands

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.