Constellation Brands Inc $STZ Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. decreased its holdings in Constellation Brands Inc (NYSE:STZ) by 4.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 88,368 shares of the company’s stock after selling 4,089 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Constellation Brands were worth $12,191,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Root Financial Partners LLC acquired a new position in Constellation Brands in the third quarter worth approximately $26,000. Stance Capital LLC acquired a new position in Constellation Brands in the 3rd quarter worth approximately $26,000. GoalVest Advisory LLC acquired a new position in Constellation Brands in the 4th quarter worth approximately $28,000. Elyxium Wealth LLC acquired a new position in Constellation Brands in the 4th quarter worth approximately $33,000. Finally, Mowery & Schoenfeld Wealth Management LLC acquired a new position in Constellation Brands in the 4th quarter worth approximately $39,000. Institutional investors and hedge funds own 77.34% of the company’s stock.

Analysts Set New Price Targets

STZ has been the subject of a number of recent analyst reports. UBS Group raised their price objective on shares of Constellation Brands from $176.00 to $186.00 and gave the stock a “buy” rating in a research note on Friday, April 10th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Constellation Brands from $154.00 to $155.00 and gave the stock a “hold” rating in a research note on Friday, April 10th. Wells Fargo & Company raised their price objective on shares of Constellation Brands from $180.00 to $185.00 and gave the stock an “overweight” rating in a research note on Friday, April 10th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $185.00 price objective on shares of Constellation Brands in a research note on Friday, April 10th. Finally, Evercore set a $175.00 price objective on shares of Constellation Brands and gave the stock an “outperform” rating in a research note on Friday, April 10th. One research 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 issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $175.37.

Insider Activity

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

Constellation Brands Trading Down 0.9%

Shares of NYSE:STZ opened at $149.50 on Friday. The firm has a fifty day moving average of $152.73 and a two-hundred day moving average of $148.61. The firm has a market capitalization of $25.74 billion, a P/E ratio of 15.59, a price-to-earnings-growth ratio of 3.28 and a beta of 0.43. Constellation Brands Inc has a 12-month low of $126.45 and a 12-month high of $186.40. The company has a quick ratio of 0.55, a current ratio of 1.08 and a debt-to-equity ratio of 1.16.

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, beating 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 net margin of 17.29% and a return on equity of 26.18%. The company’s revenue for the quarter was down 11.3% on a year-over-year basis. During the same quarter last year, the business posted $2.63 EPS. On average, equities analysts expect that Constellation Brands Inc will post 11.9 EPS for the current fiscal year.

Constellation Brands Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Wednesday, April 29th were paid a dividend of $1.03 per share. This is an increase from Constellation Brands’s previous quarterly dividend of $1.02. The ex-dividend date of this dividend was Wednesday, April 29th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.8%. Constellation Brands’s dividend payout ratio (DPR) is 42.96%.

Constellation Brands Profile

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.