NBC Securities Inc. Sells 699 Shares of Constellation Brands, Inc. (NYSE:STZ)

NBC Securities Inc. lessened its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 19.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,858 shares of the company’s stock after selling 699 shares during the quarter. NBC Securities Inc.’s holdings in Constellation Brands were worth $776,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Constellation Brands during the 4th quarter valued at approximately $443,844,000. Darsana Capital Partners LP grew its holdings in Constellation Brands by 288.9% during the 3rd quarter. Darsana Capital Partners LP now owns 875,000 shares of the company’s stock valued at $219,914,000 after buying an additional 650,000 shares in the last quarter. Boston Partners purchased a new position in Constellation Brands during the 4th quarter valued at approximately $156,358,000. International Assets Investment Management LLC grew its holdings in Constellation Brands by 24,922.5% during the 4th quarter. International Assets Investment Management LLC now owns 567,010 shares of the company’s stock valued at $137,075,000 after buying an additional 564,744 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Constellation Brands by 38.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,403,495 shares of the company’s stock valued at $335,402,000 after buying an additional 388,390 shares in the last quarter. Institutional investors own 77.34% of the company’s stock.

Analysts Set New Price Targets

STZ has been the subject of several research analyst reports. UBS Group raised their price target on Constellation Brands from $312.00 to $320.00 and gave the company a “buy” rating in a report on Friday, April 12th. HSBC lifted their target price on Constellation Brands from $290.00 to $300.00 and gave the stock a “buy” rating in a report on Friday, April 12th. Wedbush reiterated an “outperform” rating and issued a $300.00 target price on shares of Constellation Brands in a report on Wednesday, April 10th. Royal Bank of Canada reiterated an “outperform” rating and issued a $308.00 target price on shares of Constellation Brands in a report on Tuesday, May 28th. Finally, Bank of America lifted their target price on Constellation Brands from $290.00 to $300.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Three analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Constellation Brands presently has an average rating of “Moderate Buy” and an average price target of $298.20.

Insider Activity

In other news, CEO William A. Newlands sold 4,013 shares of the stock in a transaction dated Friday, April 19th. The stock was 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 directly owns 5,395 shares of the company’s stock, valued at $1,420,233.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO William A. Newlands sold 4,013 shares of the stock in a transaction dated Friday, April 19th. The stock was 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 directly owns 5,395 shares of the company’s stock, valued at $1,420,233.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William A. Newlands sold 25,000 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $261.54, for a total value of $6,538,500.00. Following the completion of the transaction, the chief executive officer now directly owns 14,700 shares in the company, valued at $3,844,638. The disclosure for this sale can be found here. Over the last three months, insiders have sold 48,031 shares of company stock valued at $12,582,321. Company insiders own 12.19% of the company’s stock.

Constellation Brands Trading Up 0.5 %

STZ opened at $263.65 on Thursday. The firm has a market cap of $48.24 billion, a price-to-earnings ratio of 28.11, a PEG ratio of 1.80 and a beta of 0.89. The company has a current ratio of 1.19, a quick ratio of 0.53 and a debt-to-equity ratio of 1.06. Constellation Brands, Inc. has a 12 month low of $227.50 and a 12 month high of $274.87. The stock has a fifty day moving average price of $255.26 and a 200-day moving average price of $252.47.

Constellation Brands (NYSE:STZ) last released its quarterly earnings results 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 return on equity of 23.06% and a net margin of 16.13%. The firm had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.09 billion. During the same period in the previous year, the company posted $1.98 EPS. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Constellation Brands, Inc. will post 13.53 earnings per share for the current fiscal year.

Constellation Brands Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 17th. Shareholders of record on Friday, May 3rd were paid a $1.01 dividend. The ex-dividend date of this dividend was Thursday, May 2nd. This is a boost from Constellation Brands’s previous quarterly dividend of $0.89. This represents a $4.04 dividend on an annualized basis and a yield of 1.53%. Constellation Brands’s dividend payout ratio (DPR) is 43.07%.

Constellation Brands Company Profile

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.