Leeward Investments LLC MA Sells 1,258 Shares of Constellation Brands, Inc. (NYSE:STZ)

Leeward Investments LLC MA reduced its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 2.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 46,795 shares of the company’s stock after selling 1,258 shares during the quarter. Leeward Investments LLC MA’s holdings in Constellation Brands were worth $11,313,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Burns Matteson Capital Management LLC lifted its stake in Constellation Brands by 1.7% in the fourth quarter. Burns Matteson Capital Management LLC now owns 2,499 shares of the company’s stock worth $604,000 after purchasing an additional 42 shares during the last quarter. FAS Wealth Partners Inc. lifted its stake in Constellation Brands by 3.5% in the fourth quarter. FAS Wealth Partners Inc. now owns 1,277 shares of the company’s stock worth $309,000 after purchasing an additional 43 shares during the last quarter. Schear Investment Advisers LLC lifted its stake in Constellation Brands by 1.8% in the fourth quarter. Schear Investment Advisers LLC now owns 2,522 shares of the company’s stock worth $610,000 after purchasing an additional 44 shares during the last quarter. Lincoln National Corp lifted its stake in Constellation Brands by 2.0% in the third quarter. Lincoln National Corp now owns 2,565 shares of the company’s stock worth $645,000 after purchasing an additional 50 shares during the last quarter. Finally, Patton Albertson Miller Group LLC lifted its stake in Constellation Brands by 0.3% in the third quarter. Patton Albertson Miller Group LLC now owns 16,147 shares of the company’s stock worth $4,058,000 after purchasing an additional 52 shares during the last quarter. 77.34% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on STZ. Wedbush restated an “outperform” rating and issued a $300.00 price objective on shares of Constellation Brands in a research report on Wednesday, April 10th. Jefferies Financial Group boosted their price objective on shares of Constellation Brands from $292.00 to $314.00 and gave the company a “buy” rating in a research report on Friday, April 12th. Bank of America boosted their price objective on shares of Constellation Brands from $290.00 to $300.00 and gave the company a “buy” rating in a research report on Monday, March 18th. TheStreet cut shares of Constellation Brands from a “b” rating to a “c+” rating in a research report on Friday, January 5th. Finally, Piper Sandler began coverage on shares of Constellation Brands in a research report on Friday, March 22nd. They issued an “overweight” rating and a $300.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat, Constellation Brands presently has a consensus rating of “Moderate Buy” and a consensus target price of $298.55.

Insider Buying and Selling

In other news, EVP James A. Jr. Sabia sold 15,781 shares of the company’s stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $263.63, for a total value of $4,160,345.03. Following the transaction, the executive vice president now owns 20,910 shares in the company, valued at $5,512,503.30. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO William A. Newlands sold 4,013 shares of the company’s stock in a transaction that occurred on Friday, April 19th. The shares were sold at an average price of $263.25, for a total value of $1,056,422.25. Following the transaction, the chief executive officer now owns 5,395 shares in the company, valued at $1,420,233.75. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP James A. Jr. Sabia sold 15,781 shares of the company’s stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $263.63, for a total transaction of $4,160,345.03. Following the completion of the transaction, the executive vice president now owns 20,910 shares in the company, valued at approximately $5,512,503.30. The disclosure for this sale can be found here. 16.19% of the stock is currently owned by insiders.

Constellation Brands Stock Down 0.6 %

NYSE:STZ traded down $1.67 during mid-day trading on Friday, hitting $260.04. 699,882 shares of the company’s stock were exchanged, compared to its average volume of 1,253,541. Constellation Brands, Inc. has a one year low of $221.81 and a one year high of $274.87. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.19 and a quick ratio of 0.53. The business has a fifty day moving average price of $259.80 and a 200 day moving average price of $247.94. The company has a market cap of $47.54 billion, a PE ratio of 27.72, a P/E/G ratio of 1.77 and a beta of 0.97.

Constellation Brands (NYSE:STZ) last posted 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 net margin of 16.13% and a return on equity of 23.06%. The business had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.09 billion. During the same quarter in the previous year, the firm posted $1.98 earnings per share. Constellation Brands’s quarterly revenue was up 7.1% on a year-over-year basis. Equities analysts predict that Constellation Brands, Inc. will post 13.51 EPS for the current year.

Constellation Brands Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Friday, May 3rd will be paid a dividend of $1.01 per share. The ex-dividend date is Thursday, May 2nd. This represents a $4.04 annualized dividend and a yield of 1.55%. This is a positive change from Constellation Brands’s previous quarterly dividend of $0.89. Constellation Brands’s payout ratio is presently 37.95%.

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 Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Victoria, Vicky Chamoy, and Pacifico brands.