American International Group Inc. reduced its position in shares of Constellation Brands (NYSE:STZ) by 0.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 53,039 shares of the company’s stock after selling 454 shares during the period. American International Group Inc.’s holdings in Constellation Brands were worth $12,089,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Jacobi Capital Management LLC increased its holdings in Constellation Brands by 103.6% during the first quarter. Jacobi Capital Management LLC now owns 507 shares of the company’s stock worth $116,000 after buying an additional 258 shares during the last quarter. Bessemer Group Inc. increased its holdings in Constellation Brands by 153.1% during the fourth quarter. Bessemer Group Inc. now owns 529 shares of the company’s stock worth $121,000 after buying an additional 320 shares during the last quarter. Cerebellum GP LLC purchased a new stake in Constellation Brands during the fourth quarter worth about $134,000. Trustcore Financial Services LLC purchased a new stake in Constellation Brands during the fourth quarter worth about $142,000. Finally, Calton & Associates Inc. purchased a new stake in Constellation Brands during the fourth quarter worth about $153,000. 76.26% of the stock is currently owned by institutional investors.

A number of research firms recently issued reports on STZ. Argus raised their price objective on shares of Constellation Brands to $260.00 and gave the stock a “buy” rating in a report on Tuesday, April 3rd. Morgan Stanley raised their price objective on shares of Constellation Brands from $250.00 to $262.00 and gave the stock an “overweight” rating in a report on Tuesday, April 3rd. ValuEngine upgraded shares of Constellation Brands from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. Stifel Nicolaus downgraded shares of Constellation Brands from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $245.00 to $228.00 in a report on Monday, April 2nd. They noted that the move was a valuation call. Finally, Royal Bank of Canada restated a “buy” rating and set a $280.00 price objective on shares of Constellation Brands in a report on Monday, April 2nd. Seven analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company. Constellation Brands has an average rating of “Buy” and an average target price of $245.77.

In related news, Director Barry A. Fromberg sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, April 2nd. The shares were sold at an average price of $229.22, for a total transaction of $687,660.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Christopher Stenzel sold 7,971 shares of the business’s stock in a transaction that occurred on Wednesday, April 25th. The shares were sold at an average price of $225.50, for a total transaction of $1,797,460.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 35,269 shares of company stock valued at $8,048,757. 15.59% of the stock is owned by corporate insiders.

Constellation Brands opened at $222.15 on Friday, according to MarketBeat. The stock has a market capitalization of $42.44 billion, a PE ratio of 25.48, a price-to-earnings-growth ratio of 1.25 and a beta of 0.09. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.79 and a quick ratio of 0.71. Constellation Brands has a twelve month low of $221.90 and a twelve month high of $224.12.

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

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 24th. Investors of record on Thursday, May 10th will be paid a dividend of $0.74 per share. The ex-dividend date is Wednesday, May 9th. This represents a $2.96 annualized dividend and a yield of 1.33%. This is a boost from Constellation Brands’s previous quarterly dividend of $0.52. Constellation Brands’s payout ratio is currently 33.94%.

About Constellation Brands

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.

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

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