Picton Mahoney Asset Management Sells 2,790 Shares of Constellation Brands, Inc. (NYSE:STZ)

Picton Mahoney Asset Management cut its holdings in Constellation Brands, Inc. (NYSE:STZ) by 19.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 11,745 shares of the company’s stock after selling 2,790 shares during the period. Picton Mahoney Asset Management’s holdings in Constellation Brands were worth $2,839,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of STZ. Robeco Institutional Asset Management B.V. grew its holdings in Constellation Brands by 18.8% during the third quarter. Robeco Institutional Asset Management B.V. now owns 10,291 shares of the company’s stock valued at $2,586,000 after purchasing an additional 1,629 shares during the period. Brown Advisory Inc. lifted its position in shares of Constellation Brands by 5.7% during the third quarter. Brown Advisory Inc. now owns 5,437 shares of the company’s stock worth $1,367,000 after acquiring an additional 294 shares in the last quarter. Strs Ohio lifted its position in shares of Constellation Brands by 1.5% during the third quarter. Strs Ohio now owns 89,960 shares of the company’s stock worth $22,609,000 after acquiring an additional 1,366 shares in the last quarter. IFM Investors Pty Ltd lifted its position in shares of Constellation Brands by 1.5% during the third quarter. IFM Investors Pty Ltd now owns 33,156 shares of the company’s stock worth $8,333,000 after acquiring an additional 500 shares in the last quarter. Finally, Waldron Private Wealth LLC lifted its position in shares of Constellation Brands by 8.7% during the third quarter. Waldron Private Wealth LLC now owns 971 shares of the company’s stock worth $244,000 after acquiring an additional 78 shares in the last quarter. 77.34% of the stock is owned by institutional investors.

Constellation Brands Stock Performance

Shares of Constellation Brands stock traded down $0.13 during trading on Wednesday, hitting $258.36. 404,746 shares of the company’s stock traded hands, compared to its average volume of 1,216,033. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.19 and a quick ratio of 0.53. Constellation Brands, Inc. has a 1 year low of $223.01 and a 1 year high of $274.87. The stock has a market capitalization of $47.27 billion, a P/E ratio of 27.54, a PEG ratio of 1.73 and a beta of 1.75. The business has a 50-day simple moving average of $261.27 and a 200-day simple moving average of $249.24.

Constellation Brands (NYSE:STZ) last announced 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 business 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%. The business’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period last year, the firm posted $1.98 earnings per share. As a group, analysts forecast that Constellation Brands, Inc. will post 13.51 EPS for the current year.

Constellation Brands Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Friday, May 3rd will be given a $1.01 dividend. This represents a $4.04 annualized dividend and a yield of 1.56%. This is a boost from Constellation Brands’s previous quarterly dividend of $0.89. The ex-dividend date is Thursday, May 2nd. Constellation Brands’s dividend payout ratio (DPR) is presently 43.07%.

Insiders Place Their Bets

In other news, EVP Michael Mcgrew sold 3,237 shares of Constellation Brands stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $255.50, for a total transaction of $827,053.50. Following the transaction, the executive vice president now directly owns 1,731 shares of the company’s stock, valued at approximately $442,270.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, EVP James A. Jr. Sabia sold 15,781 shares of Constellation Brands 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 sale, the executive vice president now owns 20,910 shares of the company’s stock, valued at approximately $5,512,503.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michael Mcgrew sold 3,237 shares of Constellation Brands stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $255.50, for a total value of $827,053.50. Following the sale, the executive vice president now directly owns 1,731 shares in the company, valued at approximately $442,270.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,031 shares of company stock valued at $6,043,821. Insiders own 16.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on STZ shares. Wedbush restated an “outperform” rating and set a $300.00 target price on shares of Constellation Brands in a research report on Wednesday, April 10th. Evercore ISI increased their price objective on Constellation Brands from $300.00 to $310.00 and gave the stock an “outperform” rating in a research report on Friday, April 12th. HSBC increased their price objective on Constellation Brands from $290.00 to $300.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Barclays increased their target price on Constellation Brands from $294.00 to $295.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Finally, Jefferies Financial Group raised their price objective on Constellation Brands from $292.00 to $314.00 and gave the company a “buy” rating in a research note on Friday, April 12th. Three research 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 a consensus rating of “Moderate Buy” and an average target price of $298.55.

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.