Citizens Business Bank Sells 736 Shares of Constellation Brands, Inc. (NYSE:STZ)

Citizens Business Bank lessened its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 4.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,226 shares of the company’s stock after selling 736 shares during the quarter. Citizens Business Bank’s holdings in Constellation Brands were worth $3,681,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Brighton Jones LLC boosted its position in shares of Constellation Brands by 13.1% in the fourth quarter. Brighton Jones LLC now owns 935 shares of the company’s stock valued at $226,000 after acquiring an additional 108 shares during the period. Penobscot Investment Management Company Inc. raised its position in shares of Constellation Brands by 22.6% in the fourth quarter. Penobscot Investment Management Company Inc. now owns 3,039 shares of the company’s stock worth $735,000 after buying an additional 560 shares in the last quarter. Kestra Private Wealth Services LLC boosted its stake in Constellation Brands by 7.1% during the fourth quarter. Kestra Private Wealth Services LLC now owns 18,434 shares of the company’s stock valued at $4,456,000 after buying an additional 1,216 shares during the period. Fernwood Investment Management LLC grew its position in Constellation Brands by 2.7% during the fourth quarter. Fernwood Investment Management LLC now owns 8,690 shares of the company’s stock worth $2,101,000 after buying an additional 225 shares in the last quarter. Finally, Bluesphere Advisors LLC bought a new position in Constellation Brands in the 4th quarter worth about $411,000. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Constellation Brands Trading Down 3.0 %

Shares of NYSE STZ traded down $7.73 during mid-day trading on Tuesday, hitting $253.46. The stock had a trading volume of 1,757,367 shares, compared to its average volume of 1,252,538. The business has a 50 day moving average price of $260.15 and a two-hundred day moving average price of $248.31. Constellation Brands, Inc. has a 1 year low of $221.81 and a 1 year high of $274.87. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.53 and a current ratio of 1.19. The firm has a market cap of $46.34 billion, a P/E ratio of 27.02, a price-to-earnings-growth ratio of 1.76 and a beta of 0.97.

Constellation Brands (NYSE:STZ) last posted its earnings results on Thursday, April 11th. The company reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.10 by $0.16. The company had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.09 billion. Constellation Brands had a return on equity of 23.06% and a net margin of 16.13%. Constellation Brands’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period last year, the firm earned $1.98 earnings per share. On average, equities analysts anticipate that Constellation Brands, Inc. will post 13.51 EPS for the current fiscal year.

Constellation Brands Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Friday, May 3rd will be issued a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date is Thursday, May 2nd. This is an increase from Constellation Brands’s previous quarterly dividend of $0.89. Constellation Brands’s dividend payout ratio is currently 37.95%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on STZ. Evercore ISI lifted their price target on Constellation Brands from $300.00 to $310.00 and gave the company an “outperform” rating in a research report on Friday, April 12th. Bank of America lifted their target price 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. Roth Mkm reissued a “buy” rating and issued a $305.00 price target on shares of Constellation Brands in a research note on Friday, April 12th. UBS Group raised their price objective on shares of Constellation Brands from $312.00 to $320.00 and gave the company a “buy” rating in a research report on Friday, April 12th. Finally, BMO Capital Markets lifted their price objective on shares of Constellation Brands from $290.00 to $315.00 and gave the stock an “outperform” rating in a report on Friday, April 12th. Three analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $298.55.

Insider Buying and Selling

In other Constellation Brands news, EVP James A. Jr. Sabia sold 15,781 shares of the business’s stock in a transaction on Friday, April 12th. The shares were sold at an average price of $263.63, for a total transaction of $4,160,345.03. Following the transaction, the executive vice president now directly owns 20,910 shares of the company’s stock, valued at approximately $5,512,503.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Constellation Brands news, EVP James A. Jr. Sabia sold 15,781 shares of the firm’s stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 20,910 shares in the company, valued at $5,512,503.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William A. Newlands sold 4,013 shares of Constellation Brands 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 sale, the chief executive officer now directly owns 5,395 shares in the company, valued at $1,420,233.75. The disclosure for this sale can be found here. 16.19% of the stock is currently owned by insiders.

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 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.